Government co-contribution

Reading time:

Could you qualify for a Government co-contribution of up to $500?

If you earn under $58,445 in the financial year ended 30 June 2024, the Government can chip in up to $500 to help boost your super when you make a voluntary non-concessional (after-tax) contribution to your TWUSUPER account. This is known as the Super Co-contribution Scheme.

How much could you get?

If you meet the criteria, how much the Government co-contributes depends on two things:

How much you earn
How much you contribute

Use this calculator to see how much you could get.

Use calculator

How to contribute

You can make a contribution to your TWUSUPER account with BPAY®. Get your unique BPAY® Code by logging into Member Online or calling 1800 222 071 between 8am and 8pm (AEST/AEDT) weekdays.

To qualify for the co-contribution for the 2023/24 financial year, please ensure we receive the contribution by Friday 21 June 2024.

® Registered to BPAY Pty Ltd ABN 69 079 137 518.

Eligibility

To be eligible for a co-contribution for 2023/24, you must make at least one after-tax contribution to your super during the financial year and:

earn under $58,445 in 2023/24
have provided us with your Tax File Number (you can log in to Member Online to see if we have your TFN)
be under 71 years at 30 June 2024
received 10% or more of your income from employment and/or running a business
not have held a temporary visa at any time during the financial year (unless you're a New Zealand citizen or on a prescribed visa)
have had less than $1.9 million in all your super accounts at 30 June 2023
have not contributed more than your after-tax cap for 2023/24
lodge a tax return for 2023/24.

The ATO website goes into these requirements in more detail.

Important note

If you receive a government co-contribution, you cannot also claim a tax deduction on your voluntary after-tax contribution.

Speak to a contribution specialist

Speak with a contribution specialist image

*Let us know your preferred contact number and preferred callback time between 9am and 5pm (AEST/AEDT) weekdays.

Eligibility requirements can be confusing, and you may need to talk over your contributions options with a specialist. We have super specialists at TWUSUPER ready to help members with their general contributions enquiries – including whether you could qualify for the co-contribution. The team's available between 9am and 5pm (AEST/AEDT) on 1800 222 071.

Use the form below to request a call back. Note that the call back service is available for Australian residents only. If you're overseas, please call +61 3 9192 4414.

Request a call back

First name Please enter your first name

Last name Please enter your last name

Contact number Please enter a valid mobile number

State Please select a state

Day and time you’d like to be called
(please pick a weekday between 9am and 5pm Melbourne time) Please enter a preferred day and time

How can we help? (optional)

Invalid recaptcha

We're sending your request, please wait.

Thank you. Your request has been submitted and a Specialist will contact you soon.

The form could not be submitted. Please call us on 1800 222 071 from 8am to 8pm (AEST/AEDT) for assistance.

General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Refer to our Product Disclosure Statements (PDS). The PDS is relevant when deciding whether to acquire or hold a product. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the TMDs at twusuper.com.au/tmd