News
29 May 2007
Co-contributions. Free money?
Believe it or not, there is such a thing as free money. Make a personal contribution to your super before 30 June 2007 and, if you are eligible, the Government will match your contribution by up to 1,500.
Co-contributions are special payments made by the Government to super accounts of members whose total income is less than $58,000 and who make personal contributions from t heir after tax salary.
You could receive up to a 150% return on your investment! What better way to increase your super nest egg, than getting the Government to do it for you? The maximum cocontribution is $1,500 for individuals with total income of up to $28,000. The maximum co-contribution decreases by 5 cents for every dollar of total income over $28,000. We know you want more super and this is a great way to get it.
Call our Member Services team today on (03) 9911 3222 (regional 1300 300 820) to find out if you’re eligible, and how it all works.
Note that total income is your assessable income plus reportable fringe benefits.
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