Get the Government to Top up your Super

If you earn less than $58,980pa, at least 10% of which comes from eligible employment or carrying on a business, the government will top up funds you contribute to super. This is known as a government co-contribution. If you contribute $1000 to your super fund, the government will boost your contrition by up to $1500. To receive the full amount ($1.50 for every $1 you contribute), you must earn less than $28,980pa.

Andrew (Age 28) earns $40,000pa and wants to invest $1,000. He chooses to invest in super and the government adds $949 to his contribution of $1,000, nearly doubling the amount he would have invested if he had chosen an alternative investment, such as a term deposit.