furbacchione

I've got my superannuation statement and can't for the life of me understand the government co-contribution. I voluntarily put a sum in and the ATO calculator estimated I'd get a 1:1 co-contribution... But when I look at the statement from the super fund for the government co-contribution section it shows a negative number and it's much lower than estimated. I don't get it - did I get a co-contribution or not. Anyone able to shed some light on it for me.

LouiseR

Some super statements show a credit with a minus (odd I know!). For the last financial year you would have only got 1 for 1 if you earnt less than $31,920.

For every dollar you earnt over that figure the co cont reduces by 3.33c up to $61,920 until it tapers out.

Rules have changed for this financial year though - just to keep us on our toes!