The Australian Government offers a superannuation co-contribution for low income earners. It is a payment made by the Government for people making after tax contributions to their superannuation, also known as non-concessional contributions.
There are payment thresholds and the amount that the government matches have changed over the years.
But, basically, the Government chips in some cents for every dollar you contribute – that could make plenty of sense over time!
Get it?
Also check out the spouse contribution, where one partner can contribute to the other partner’s superannuation.
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