Super for self-employed people

Build your own super

If you are self-employed or work as a contractor, you need to think about super more than anyone else. If you don't act now, you might not have enough money to live on when you retire.

Receive bonus contributions

If you earn less than $51,021 per year, consider making after-tax contributions to super to qualify for the co-contribution from the government. See government co-contributions.

If you're eligible and earn $37,000 or less per year, the government may make a further contribution of up to $500 to your super. See low income super contribution.

Get a tax deduction

Smart tip

If you're self-employed, always confirm the details of any super contributions with your accountant or tax agent.

If you are self-employed you can claim a tax deduction on your super contributions.

Most people can contribute up to $30,000 per year and the tax benefit will be similar to an employee salary sacrificing. If you're over 49 you can contribute up to $35,000 per year. See contributing extra to super for more information.

See the Australian Taxation Office for information on claiming deductions for personal super contributions.

Changes to super contributions in 2017

Super contribution limits will change on 1 July 2017. Changes to personal super contribution deductions will make it easier for self-employed people to contribute to super. Get more details on what is changing and how it will affect you on the Australian Tax Office (ATO) website.

Super may not be at the top of your priority list if you're self-employed. But don't leave it too late - putting super money away now will make sure you have enough to live on later.

Related links

Last updated: 18 Jan 2017