Are you eligible for a $500 bonus from the government?

If you’re a low to middle income earner, the government could chip in up to an extra $500 to help boost your super. This is known as the Super Co-contribution Scheme.

&amp;amp;amp;amp;nbsp;

There are some eligibility requirements for the co-contribution. For example, you need to:

have made a personal after-tax super contribution during the financial year
be aged less than 71 at the end of the financial year
have lodged your tax return for the relevant financial year
earn at least 10% of your total income from employment, carrying on a business, or a combination of both – this can be salary and wages, business income as a sole trader or partnership, and director fees.

Here’s how the co-contribution works

If your total income is equal to or less than $47,488 (for the 2025-26 financial year) and you make personal after-tax contributions of $1,000 to your super account, you will receive the maximum co-contribution of $500. That’s a 50% return.

The amount of the co-contribution then decreases as you earn more, falling to $0 when your income reaches $62,488 (for the 2025-26 financial year).

You don't need to apply for the co-contribution. If you're eligible and Vanguard Super has your tax file number (TFN), the co-contribution will hit your super account automatically.

You must submit a tax return.

The government co-contribution could help grow your super