The Government co-contribution was introduced by the Liberal Government in 2002 to help lower income earners accumulate more super, but unfortunately it has been significantly ‘watered down’ over subsequent years.
It is still worth considering, as how often do you get something for nothing from the Government?
If your income is below $34,488 the Government will contribute 50 cents for every $1 of non-concessional super contribution you make. This scales back for incomes above $34,488 and cuts out at $49,488.
To see what you are eligible for, you can access a calculator on the ASIC website using the link below.