Govern­ment Incen­tives

Make the most of the government incentives available to help grow your super!
As a Professional Super member, we don’t want you to miss out.
There are two government incentives that are particularly good for young people.

Incentive 1,
Super Co-Contribution

OK, boring name, but this is a great incentive to increase your super balance!
Here’s the A, B, C of the deal:
  • aDo you earn less than $53,564? It’s even better if you earn less than $38,564. Well, that’s most young people working part time! Is this you?
  • bNext, if you make a personal contribution to your super account i.e. transfer some money from your bank account to your super account. Professional Super has a BPay feature that makes this easy.
  • cThen the government will make a co-contribution into your super account! Yep, that’s money from the government paid to your super account! If you earn less than $38,564, they’ll give you 50 cents in the dollar up to a maximum of $500. So if you transfer $600 into your super account, the government will put $300 into your super.
Even better, you can do this every financial year if you meet the ATO’s criteria!
Another good thing – because this is a personal contribution, you can withdraw this later to buy your first home under the government’s new “First Home Super Saver Scheme” (FHSSS).

OK, what are the details?

  • You need to be earning 10% or more of your total income from employment related activities e.g. income from working at a job.
  • You need to make a personal contribution into your super account. You need to have added your TFN (Tax File Number) to your Professional Super account to do this.
  • If your income is below $38,564, the government’s co-contribution will be 50c for every $1 you contribute.
  • If your income is between $38,564 and $53,564, then the co-contribution amount will decrease progressively as your income increases.
  • The maximum amount that the government will co-contribute is $500. So to maximise the benefit of this incentive, if you earn less than $38,564 you would need to contribute $1,000.
For more information about the super co-contribution check out the ATO website.
Storm tried it
Storm (Commerce, USyd) wanted to test this incentive out. She has a part time job, so she met the criteria of having an income under $53,564. Even better her income is under $38,564, so she’s eligible for the best rate of co-contribution – 50 cents in the dollar.
Storm used the Professional Super BPay details to transfer $100 from her bank account to her Professional Super account. In July, she will do her normal tax return (which will confirm to the ATO that she earnt less than $38,564). The ATO will then transfer $50 into her Professional Super account. Too easy. Next year she plans to do more.

Want to get started?

You can make a personal contribution by logging into Professional Super and using the Personal Contributions page.

Incentive 2,
Low Income Super Tax Offset (LISTO)

The great thing about this incentive is you don’t have to do anything extra to get it.
If you’re eligible, the government just pays the LISTO automatically. All you need to do is submit your normal tax return and make sure your Professional Super account has your TFN (Tax File Number).

Here's the deal;

If you’re a low-income earner, you will receive LISTO to refund you for the extra tax that you were charged on the super contributions your boss made to your super account. The ATO will refund this extra tax into your super account.
Say for example, if you earnt below the tax-free threshold – you won’t have to pay any tax. As super is always taxed at 15%, therefore your employer’s contributions to your super account will have been taxed at a higher rate than your income. LISTO refunds this extra tax into your super account.

OK, what are the details?

If you have an adjustable taxable income below $37,000 you could be eligible to receive LISTO.
  • The maximum amount you can receive per financial year is $500.
  • Your super fund will need your TFN to receive your LISTO.
  • If you lodge a tax return just like you’d do every financial year, the LISTO will be automatically paid into your super fund if they have your TFN.
For more information about the LISTO check out the ATO website.

We're here to help

I’m Taylor from the support team at Professional Super. Our team can answer any questions you have. Chat with us online or send us an email at