Quote:
Originally Posted by JB80
I have a question about my super and I was looking for a speciality money forum based in Oz but I can't seem to find many so I figure we have a lot of knowledgeable people here that may be able to help. I suspect I know the answer anyway but no harm in clarifying it up.
Anyway I have at least one super fund that I know of and that has a fairly tiny amount in it but since living abroad there haven't been any contributions for at least 7 years, maybe more and the fees are slowly dwindling what is in there.
As I recall there used to be a fairly generous government co-payment scheme. This has changed somewhat over the years but there still is a scheme in place for low-middle income earners.
Would I be able to still qualify for this even if I am living overseas, I don't have any economic activity in Australia aside from a dwindling super fund and bank account I left open.
Any thoughts on this would be much appreciated.
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It can be confusing.
To be eligible for super co-contributions, 10% or more of your total income must be from eligible income,
which is income from salaried employment or running a business, or a combination of both.
Your total income needs to be under $49,488, and
You need to make eligible contributions to your super fund for the year.
What is your residency status?
If you are a non-resident, for tax purposes,the income attributable to employment outside Australia will not be counted as eligible income.
Does this help?
