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FAQs Co-ContributionsIn this section we have covered the most commonly asked questions about Co-Contributions. Am I eligible for the Super Co-Contribution? Am I eligible if I make Defined Benefit contributions? What type of contribution do I need to make? When will my super contribution be paid?
Am I eligible for Co-Contributions?You may be eligible to make a Super Co-Contribution through your personal contributions. See if you are eligible. However your eligibility will depend on your personal financial situation. For further information, please contact the ATO on 13 10 20. To find out if you are eligible, or if it's the right thing for you, please speak to your personal financial adviser, or contact Health Super Financial Planning www.hsfp.com.au on 1300 780 223 and make an appointment today.
Am I eligible if I make Defined Benefit contributions?Yes. If you are an existing Defined Benefit member you can be eligible for the Co-Contribution scheme by making after-tax contributions to your defined benefit account.
How can I top up my super?No matter what your individual circumstances, Health Super has an easy way for you to top up your super and reap the rewards. To contribute just follow this simple 2-step process:
What type of contribution do I need to make?To qualify for the Government's Super Co-Contribution you need to make an after-tax contribution (otherwise known as a 'personal contribution').
When will my Super Co-Contribution be paid?Your Super Co-Contribution won’t be paid into your Health Super account immediately. It will be calculated by the ATO after you have lodged your current tax return, and after Health Super has provided the ATO with a yearly report of all personal contributions. We are required to submit this information by 31 October each year. The ATO will then calculate your Co-Contribution amount, and send this through to Health Super during the middle of the following financial year. For example...All members who submit personal contributions during the financial year can expect to receive their Government Super Co-Contribution payment, from (approximately) February onwards. Therefore, your Super Co-Contribution record will appear on your following financial year's annual statement.
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