50% return guaranteed!
How you ask?
From the superannuation co-contribution.
How do I qualify?
- Earn less than $49,488
- 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://moneysmart.gov.au/grow-your-super/super-contributions-optimiser
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:
How the government co-contribution scheme works (including calculator)
A free co-contribution payment made by the government into your super account can be a great way to boost your super account if you have some money to spare.
SuperGuide
Super co-contribution
How the super co-contribution scheme helps low or middle-income earners boost their retirement savings.
