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
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
Get a tax deduction
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
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
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.
Last updated: 18 Jan 2017