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12 May 09 Temporary reductions in the co-contribution

The Government will temporarily reduce the level of the superannuation co-contribution. The Government will reduce the superannuation co-contribution matching rate from 150% to 100% for contributions made in the 2009-10, 2010-11 and 2011-12 income years, and to 125% for contributions made in the 2012-13 and 2013-14 income years.

The maximum co-contributions payable will also be reduced accordingly to $1,000 for contributions made in the 2009-10, 2010-11 and 2011-12 income years, and to $1,250 for contributions made in the 2012-13 and 2013-14 income years.

The co-contribution matching rate and maximum payable will return to 150% and $1,500 for contributions made in the 2014-15 and later income years.

For more information, see the Minister for Superannuation and Corporate Law's media release, No 2009/56, 12 May 2009

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