April 2010
A super co-contribution payment is an amount paid by the Federal Government to an individual’s super account if they make a personal super contribution to their super fund by 30 June each year. The individual must also meet the eligibility criteria and lodge an income tax return.
Due to a recent computer system upgrade, the Australian Taxation Office (ATO) temporarily suspended payment relating to the 2008/2009 financial year. The ATO has announced that it will return to making superannuation co-contribution payments to superannuation funds later this month.
The ATO will apply interest, where applicable, automatically on the payments that have been delayed. If you are an eligible recipient, you do not have to do anything.
For more information, refer to super contributions on the ATO website.