You mention the government co-contribution in your columns and I
would like more information.
Q.
You mention the government co-contribution in your columns and I
would like more information. My wife works part time, earning about
$12,000 a year - does this qualify me to make a contribution for
her, or does she have to make the payment herself? Whose fund does
the money get paid into - hers or mine? How do I make the
contributions?
A.
The co-contribution is available to lower income earners and
provided they earn less than $30,343 a year they will receive
$1,500 if they make a non-concessional contribution of $1,000. The
payment has to be made by your wife and she can choose which fund
it is to go in. You will find more details on the ATO.gov.au
website.
Each week financial advisor Noel Whittaker answers your
questions.
