2017 Tax Tip #12 - Consider the Superannuation Co-Contribution

Posted by Georgia Kirby on Jul 4, 2017 7:00:39 AM

Individuals  should consider making after-tax contributions to their superannuation if they are likely to earn less than $51,021 in the 2016-17 tax year, so as to qualify for the superannuation co-contribution, if their circumstances permit.The government will match after-tax contributions 50 cents for each dollar contributed up to a maximum of $500 for an individual earning up to $36,021. The maximum will then gradually decrease for every dollar of total income over $36,021, and to nil at $51,021.

Topics: TAX


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