Score a $500 super bonus: the government super co-contribution explained

Nick McKenna • June 11, 2025
Woman with red hair making a peace sign with both hands near her eyes and blowing a kiss, against a red wall.

Imagine an extra $500 landing in your super fund, courtesy of the government, simply for being proactive about your financial future. If you're a low to middle income earner making after-tax contributions to your super without claiming a tax deduction, you could be eligible for this often forgotten about super boost. Here’s how it works.

How does the super co-contribution scheme work?

The superannuation co-contribution scheme is a government initiative aiming to assist low to middle-income earners save for their retirement. What that means is, depending on the amount of income you earn each year, the government may add to your super when you make a voluntary after-tax contribution, which you don’t claim a tax deduction for. The amount you receive will depend on how much you contribute as well as your income.

Are you eligible for a super co-contribution?

To be eligible for a super co-contribution from the government, generally you must:

  • make an after-tax contribution to your super fund, which you don’t claim a tax deduction for

  • lodge your annual tax return for the relevant year

  • have a total income that’s less than $60,400 in the 2024/25 financial year for at least a part co-contribution (more info on this below)

  • receive 10% or more of your income from eligible employment and/or running a business

  • be less than 71 years old at the end of the financial year that you’re making the contribution

  • have a total super balance below $1.9 million as at 30 June of the financial year prior to the year that you’re contributing

  • not have exceeded your non-concessional contributions cap for the year

  • not have held a temporary visa at any time during the financial year (unless you’re a New Zealand citizen or it was a prescribed visa).

What do you need to do to get the super co-contribution?

Provide your tax file number to your super fund

You don’t need to apply for the super co-contribution but you will need to make sure you’ve provided your tax file number to your super fund. Generally, your super fund can’t accept after-tax contributions, or receive co-contributions on your behalf, if you haven’t provided your tax file number.


Lodge your tax return

You’ll need to lodge your annual tax return for the relevant year. The Australian Taxation Office (ATO) will then use the information provided in your tax return and the contribution information from your super fund to work out your eligibility.

If you’re eligible, the ATO will automatically calculate the appropriate amount that’s owing to you and will typically deposit this into the super fund which you have made the contribution to. If you’ve recently retired and have closed your super account, it may be possible to have your co-contribution paid to you directly.

How much will the super co-contribution be?

If your total income is equal to or less than $45,400 in the 2024/25 financial year and you make after-tax contributions of $1,000 to your super fund, you’ll receive the maximum co-contribution of $500. If your total income is between $45,400 and $60,400 in the 2024/25 financial year your maximum entitlement will reduce progressively as your income rises. If your income is equal to or greater than the higher income threshold of $60,400 in the 2024/25 financial year, you won’t receive any co-contribution. You can use the ATO’s co-contribution calculator to estimate your entitlement and eligibility.

What counts towards your total income?

Your total income for this purpose includes your assessable income, reportable super contributions and any reportable fringe benefits, less any amounts you’re entitled to claim as a tax deduction for running your own business. Reportable fringe benefits typically arise where non-cash benefits are provided to you by your employer, such as a company car or lease vehicle.

Are there other things you should be across?

  • The income thresholds mentioned above are indexed each year in line with increases in average weekly earnings and may change in future financial years.

  • If you exceed concessional and non-concessional super contribution caps, additional tax and penalties may apply.

  • The value of your investment in super can go up and down, so before making extra contributions, make sure you understand, and are comfortable with, any potential risks.

  • The government sets general rules around when you can access your super, which typically won’t be until you reach your preservation age of 60 years old and meet a condition of release, such as retirement.

Where to go for further information

Check the ATO’s website for up to date information.

Source: AMP

Man and woman laughing while dancing in a kitchen. The woman is leaning back, held by the man. Bright, natural light.

Finance 101: understanding interest rates and why they matter

By Nick McKenna • June 11, 2025
Whether you're planning to buy your dream home, save for a brighter future or simply manage your daily finances, interest rates play a key role. Here’s why they matter when planning your financial future.
Woman with dark hair in a yellow sweater sits by a window, holding a phone, looking at the camera.

Planning for retirement? Start with these 5 steps

By Nick McKenna • June 11, 2025
Retirement planning can be daunting, but it doesn’t have to be. We’ve put together these 5 retirement planning steps to help you get started.
Woman and child working together at a pottery wheel in a bright workshop. The child is helping the woman shape the clay.

Why you need insurance, what are your options?

By Nick McKenna • June 11, 2025
Your health and wellbeing is the most important asset you have, so it pays to put in the hard yards and get your head around the tricky topic of insurance.
Person in a red jacket using a calculator with a notepad, coins, and a tablet on the desk, possibly budgeting.

Eight quick wins for managing debt

By Nick McKenna • June 11, 2025
Managing debt can often feel overwhelming but there are several strategies you can implement to make the process more manageable and accelerate your journey to becoming debt free.
People at a table, illuminated by string lights, are enjoying an outdoor dinner party at night.

Three ways to plan for your 30s

By Nick McKenna • June 11, 2025
Turning 30 is often accompanied by a degree of increased financial responsibility. Here’s how to stay ahead.
Woman with curly dark hair gazes thoughtfully out a window in a building, wearing a light pink top.

How to find your lost super

By Nick McKenna • June 11, 2025
Imagine finding thousands in super that you’ve lost track of. Here’s how you can check if you have any lost or unclaimed super.
Smiling man in blue shirt, possibly a farmer, standing in front of a banana display.

Can I go back to work if I’ve already accessed my super?

By Nick McKenna • June 11, 2025
Can I go back to work if I’ve already accessed my super? Generally, you can, but there may be other things to consider. Learn more.
Older couple with arms around each other, sitting on a bench in a park. They are looking at each other lovingly.

Spouse super contributions – what are the benefits?

By Nicole McKinnon • June 4, 2025
If your partner is earning a low income, working part-time, or currently unemployed, boosting their super could be a smart financial move for both of you.
Two people point at a tablet displaying stock charts while sitting at a table with a notebook. Both wear watches.

Navigating market volatility

By Nicole McKinnon • June 4, 2025
Financial markets have been erratic lately, understandably causing some concern for those of us with super and investments. While dips and major market events are a common feature of investing, markets generally trend upwards over time.
A person using a laptop with a 2FA security interface overlayed. A fingerprint scan and shield icon are visible.

Protect yourself: Multi-factor authentication

By Nicole McKinnon • June 4, 2025
Multi-factor authentication (MFA) is when you use two or more different types of actions to verify your identity and you may already be using MFA. For example, when you receive an authentication code by SMS text message after entering your password to log into an online account. MFA is one of the best ways to protect against someone breaking into your account. It makes it harder for cybercriminals to take over your account, by adding extra layers of protection.