Is your assessable income, reportable fringe benefits and reportable employer super contribution minus deductions from carrying on a business less than $58,455?

• You could consider making a non-concessional contribution of up to $1,000 to super.

• Maximum co-contribution is 50 per cent of the contribution, up to a maximum $500 for income below $43,455.

Tip…

• The co-contribution will not be available where you have excess non-concessional contributions or your Total Super Balance exceeds $1.9 million as at 30 June 2023. 

• Eligibilty requires that a minimum of 10% of assessed income relates to income from employment or carrying on a business.

Disclaimer: Please note that the above should not be construed as personal investment advice. Please consult with your financial advisor or accountant before taking any action.

Rick Maggi