Super school

Government co-contributions

You could boost your super by as much as $500* if you earn less than $50,454 p.a. and make a personal contribution into your super account by the end of financial year.

How does it work?

  1. You make a contribution to your super from your after-tax income
  2. At the end of the financial year, the government reviews how much you’ve earned. If you’ve earned less than $50,454 p.a. you could qualify for the co-contribution
  3. If you do qualify, the co-contribution is paid directly into your LUCRF Super account. You will receive a co-contribution notification letter from the Australian Taxation Office (ATO). The amount will also appear on your following LUCRF Super member statement.

How much will you get?

If you’re a low-income earner, the government will add up to 50 cents for every (after-tax) dollar you contribute, up to a maximum of $500*.

The co-contribution is reduced as your income increases. It cuts out completely at $50,454 p.a.

The table below provides examples of how much the government will co-contribute in line with how much you earn.

Your total income*           Co-contribution available       Your contribution                   

$35,454 or less

$500

$1,000

$41,454$300

$1,000

$47,454$100
$1,000
 
$50,454 or more$0 
 

* including assessable income, fringe benefits and reportable super contributions

 The rules
You will be eligible for the government co-contribution if:

  1. Your total income is under $50,454 p.a for the 2015/2016 financial year
  2. You make at least one after-tax contribution to your super account during the 2015/16 financial year
  3. 10% or more of your total annual income is from eligible employment, running a business or a combination of both
  4. You’re an Australian citizen, a permanent Australian resident or a New Zealand citizen working in Australia
  5. You lodge an income tax return for the 2015/16 financial year (any member over 65 must satisfy the work test)
  6. You’re under 71 years of age at the end of the 2015/16 financial year, and
  7. You’ve provided us with your TFN.

Need more information? Call us on 1300 130 780.

It’s easy to contribute to your super. Here’s how:

BPAY® 

BPay is the simplest way to make a personal, after-tax contribution directly into your LUCRF Super account. When making contributions, please allow at least four working days before the end of the financial year.

You need: 

  • The LUCRF Super BPAY Biller Code is 484469, and
  • Your LUCRF Super BPAY Customer Reference Number (CRN).

You can find the CRN on your member card, your most recent member statement or by calling us on 1300 130 780.

Payroll deduction

Hand this form to your payroll department and ask your employer to make regular payments from your after-tax pay. When making contributions, please allow at least four working days before the end of the financial year.

Cheque or money order

Complete this Direct Contribution Form and post to LUCRF Super with your cheque or money order.

IMPORTANT! Please write your LUCRF Super member number on the reverse side of the cheque and  address your cheque or money order to LUCRF Super. 

* including assessable income, fringe benefits and reportable super contributions