How you ask?

From the superannuation co-contribution.

How do I qualify?

  1. Earn less than $49,488
  2. Have 10% of your income from employment activities

How does it work?

The government put in 50c for every $1 you contribute this financial year, up to this maximum of $500.
So to get the maximum of $500 per year, you need to put in $1,000 per year as an after tax contribution.

You won’t often find a potential 50% guaranteed return.

Contact your superfund for details on how to make a contribution.

 

Check how much co-contribution you qualify for with this calculator

https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/super-co-contribution-calculator

 

This could be the easiest $500 you’ve ever earned! Got any more dosh boosting tips? Let me know below, comment below.

 

For more details, see SuperGuide’s article:

http://www.superguide.com.au/how-super-works/cashing-in-on-the-co-contribution-rules