Co-contributions and low-income concessions

Co-contributions and low-income concessions

Part of the eligibility criteria for the co-contribution is the requirement to make an eligible personal superannuation contribution. This must be a non-concessional contribution  (a contribution for which no tax deduction is claimed).

Eligible personal superannuation contributions do not include:

·         Rollover amounts

·         Superannuation transferred from a foreign superannuation fund

·         A directed termination payment

·         An amount transferred from a fund that has never been an Australian superannuation fund or foreign superannuation fund.

A client can choose whether to claim a tax deduction or not. If they want to also claim the co-contribution they should not claim a full deduction for the contribution so that part of the contribution is a non-concessional contribution and counts for co-contribution purposes. 


The information contained in this publication is based on the understanding KeyInvest (ABN 74 087 649 474 AFSL No. 240667) has of the relevant Australian legislation as at the date shown in this publication.

The information contained in this publication is of a general nature only and is intended for use by financial advisers and other licensed professionals only. It must not be handed to clients for their keeping nor can any copies of sections of this publication be given to clients. KeyInvest is not a registered tax agent under the Tax Agent Services Act 2009. We recommend that your client be referred to their registered tax agent or legal adviser prior to implementing any recommendations that you may make based on the information contained in this publication.

Contact Us

Chat to our friendly staff

Secure your future with KeyInvest

Complete the form below and our friendly staff will contact you

Our Investment Bonds have been designed toHelp You Save for the Future

Secure your future with KeyInvest

Click Here or Call Us Today on 1300 658 904 The key to a better life

KeyInvest Head Office

Level 5, 49 Gawler Place Adelaide SA 5000
PO Box 3340 Rundle Mall SA 5000
» Google Map

Phone: 1300 658 904
Fax: (08) 8231 4079
Email Us:

AFSL: 240667
ABN: 74 087 649 474

Join Our Newsletter

I'm Interested in: (Please select)

Follow Us

Remodal

Responsive, lightweight, fast, synchronized with CSS animations, fully customizable modal window plugin with declarative configuration and hash tracking.