Super co-contribution rules for 2020 financial year

You need to meet the following conditions first to be able to receive:

• have made personal super contributions to your super account before 30 June 2020
• pass the income threshold and 10% eligible income tests
• be less than 71 years old by 30 June 2020
• must be permanent resident or citizen from 1 July 2019 to 30 June 2020
• your 2019 personal return has been lodged
• have a total superannuation balance less than $1.6 million for the 2019–20 financial year
• you have not exceeded your non-concessional contributions cap.

Income thresholds

There are two co-contribution income thresholds for 2020 financial year:

• a lower threshold ($38,564 for 2019–20): if you make personal contributions $1,000, you will receive $500 from the ATO.
• a higher threshold ($53,564 for 2019–20). if you make personal contributions $1,000, you will receive less than $500 if your income is between $38,564 and $53,564

If your personal contribution is less than $20, you will receive $20 from the ATO.