{"id":99967,"date":"2024-12-21T10:32:55","date_gmt":"2024-12-20T23:32:55","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=99967"},"modified":"2024-12-21T10:32:56","modified_gmt":"2024-12-20T23:32:56","slug":"aussies-claim-your-1500-super-bonus-from-the-government","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/aussies-claim-your-1500-super-bonus-from-the-government\/","title":{"rendered":"Aussies, Claim Your $1,500 Super Bonus from the Government\u2014No Cost to You!"},"content":{"rendered":"\n

The Australian Government Superannuation Co-Contribution Program<\/strong> is a financial incentive for low- and middle-income earners to boost<\/strong> their retirement savings<\/strong>. By making eligible personal contributions to your superannuation fund, you could receive up to $500<\/strong> annually from the government, depending on your income and contribution amount.<\/p>\n\n\n\n

Eligibility for the Superannuation Co-Contribution<\/h2>\n\n\n\n

To qualify, your total income for the 2024-25 financial year must not exceed $60,400<\/strong>, with the maximum benefit available to those earning $45,400 or less<\/strong>. As income rises above the lower threshold, the co-contribution phases out at 3.333 cents per dollar<\/strong>, reaching $0 at the upper limit. The total income calculation includes assessable income, reportable fringe benefits, and employer super contributions, reduced by eligible deductions.<\/p>\n\n\n\n

Eligible contributions must be non-concessional (after-tax)<\/strong> and cannot include amounts that attract a tax deduction, rollovers, or transfers from foreign super funds. Additionally, participants must be under 71 years old<\/strong> at the end of the financial year and have a Tax File Number (TFN)<\/strong> registered with their super fund.<\/p>\n\n\n\n

Eligibility requirements also include:<\/p>\n\n\n\n