Government co-contributions and LISC

Co-contributions

If you are eligible and make personal after-tax contributions to your super, the Commonwealth Government will match your personal after-tax contributions with a co-contribution (up to a certain limit).

To find out how to calculate the maximum contribution amount and whether you are eligible for the Government co-contribution, please visit www.ato.gov.au or see STC Fact Sheet 13: Information about the Commonwealth Government's superannuation co-contribution and low income superannuation contribution.

Low-income superannuation contribution

From 1 July 2012, if you earn less than $37,000 a year and you or your employer makes before-tax contributions (such as employer contributions or salary sacrifice contributions) into your superannuation scheme, you may be eligible to receive a payment of up to $500 directly into your superannuation account.

This payment is called the low-income superannuation contribution (LISC). It is calculated at a rate of 15% of your total eligible concessional contributions for the year up to a maximum of $500.

The LISC is different from the superannuation co-contribution and your entitlement to this payment is assessed separately. The LISC is payable (where eligible) even if you are not entitled to the super co-contribution.

For further information on the LISC see STC Fact Sheet 13: Information about the Commonwealth Government's superannuation co-contribution and low income superannuation contribution.