Superannuation co-contribution eligibility 2012

The following Table and associated information is provided for use in relation to the period specified to determine co-contribution eligibility 2012. We recommend searching the ATO website for up-to-date information on government-sponsored superannuation support for low income taxpayers.

Co-Contribution Eligibility: 2012
  • Permanent resident
  • Under 71 years of age
  • Made a personal non-concessional contribution to super
  • Earn at least 10% of your total income (assessable income plus fringe benefits) attributable to their activities as an employee or from carrying on a business
  • Lodge a tax return for the applicable year
  • Total income of less than $61,920
Reduction of Co-Contribution
Total Income for the financial year Maximum Co-Contribution (2011/12)
$31,920 or less $1,000 (maximum co-contribution)
$31,920 – $61,920 $1,000 – (members total income – $31,920) x 0.03333) **
$61,920 or more Nil
**i.e.John earns $45,000 this financial year and makes a $1,000 non-concessional (undeducted) contribution into his super fund. As his income exceeds the lower threshold ($31,920) he will not receive the maximum co-contribution of $1,000. He will receive a co-contribution of $564.

Calc: income exceeds threshold by $13,080 which reduces his entitlement by $0.03333 for every dollar earned above the threshold. $436 reduction

Superannuation advice is one of the key elements of advice provided by the Continuum Financial Planners Pty Ltd team. We welcome your enquiry – call us on 07-3421 3456; or complete the Contact Us page details and we’ll respond promptly.