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    • 1 Post By Chelseadownunder

    Thread: Free money

    1. #1

      Senior Member
      Join Date
      May 2008
      Hallett Cove
      135 times

      Exclamation Free money

      Free money...Not such a thing...

      Hi Guys,

      As we fast approach the end of the tax year I thought I should remind everyone of the Government Co Contribution into super available.
      This is where the government matches your personal contribution into super.
      It max`s out at $1000 for $1000 personal contribution and is on a sliding scale.
      For incomes from $31,920 to $61,920 the benefit decreases the more you earn.

      The calculator link is below. You will need to enter a figure into the box that says if you are making personal contributions into super. I usually put $1000 and then at the end I get the figure the government will match. When I have this figure. Eg
      If your income is $40k for the tax year and you have no other income the calculator shows $731 at the end.

      Therefore if you pay in $731 this is the estimated figure you will get matched.

      You need to have some income however small to get the co contribution. I did the calculator with an income of $1 and you still get $1000 for $1000.


      This should not be taken as financial advice. Each persons circumstances is different.
      Last edited by Chelseadownunder; 26-05-2011 at 02:58 AM.
      Mainds Family likes this.
      Steven Guy - UK Pension transfer, Superannuation, Life Insurance, Investment, Self managed Super & Mortgage advice. FIN 231Technical Analysis, Currently taking Masters in Finance.
      Financial Adviser Australia Member FPA (Advanced Diploma) (Self managed Super)

    2. #2

      Senior Member
      Join Date
      Oct 2008
      94 times
      Not too sure how the whole pension thing works. I currently have an NHS pension and don't know if it's best to freeze it or transfer it? All seems very complicated to me!!
      Rmhn, hubby carpenter



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