Guidance

How co-contributions can add to your retirement savings

How co-contributions can add to your retirement savings

To help people save for retirement, the government matches certain personal super contributions up to a limit.

Not everyone will qualify for a co-contribution from the government, but the Australian Taxation Office (ATO) website has up-to-date information.

About government co-contributions

  • Available to low- and middle-income earners
  • Also available to self-employed people
  • No application necessary – payment is made based on income tax returns

If you’d like advice on government co-contributions or other ways to maximise your retirement savings, you can use our online booking form to arrange an initial, no-obligation, no-cost consultation with a Commonwealth Financial Planner.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information. Commonwealth Bank is also not a registered tax (financial) adviser under the Tax Agent Services Act 2009 and you should seek tax advice from a registered tax agent or a registered tax (financial) adviser if you intend to rely on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law. Commonwealth Financial Planners are representatives of Commonwealth Financial Planning Pty Ltd ABN 65 003 900 169 AFSL 231139 a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 (the Bank).