Super for self-employed and sole traders

There are plenty of good reasons to invest in super if you’re self-employed or a sole trader. We’re here to help you take the next steps with confidence and ease.
There are plenty of good reasons to invest in super if you’re self-employed or a sole trader. We’re here to help you take the next steps with confidence and ease.
There are plenty of good reasons to invest in super if you’re self-employed or a sole trader. We’re here to help you take the next steps with confidence and ease.
There are plenty of good reasons to invest in super if you’re self-employed or a sole trader. We’re here to help you take the next steps with confidence and ease.

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Why contribute to super

Why pay yourself super

Whether you’re working on a start-up, in the gig economy or a regular business, saving money into super today could make a big difference to your income in retirement. Use our super projection calculator for an idea of what your future income could look like with or without super.

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Insurance cover is available through your super

Join AustralianSuper’s Personal Plan as a sole trader or self-employed worker, and you can apply for insurance cover anytime and keep any existing insurance you have through super.

More on insurance

You may be able to claim a tax deduction

Contribute to super from your after-tax income and you may be able to claim a tax deduction the for contributions you make. These after-tax, or non-concessional contributions, are capped at $120,000 for the financial year. Any contributions you claim as a tax deduction will count towards your concessional contribution cap for the current financial year ($30,000 for the financial year).

More on super and tax

Before adding to your super, consider your financial circumstances, contribution caps that may apply, and tax issues.

 

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As Australia's largest super fund1, joining us today could mean more money down the track.

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Mark’s story – how a self-employed builder got his super sorted
Mark starts thinking about super when he and his partner start thinking about buying a home. He does some research, including some financial advice, and ends up joining a fund and contributing $5,000 to his super account, after-tax.
Mark’s super fund deducts 15% tax on the $5000, leaving $4250 which is credited to Mark’s super fund account.
Mark claims an income tax deduction of $5,000 for the super contribution he made, making his taxable income $60,000. 
The case study is provided for illustration purposes only and isn't a representation of the actual benefits that may be received or the fees and costs that may be incurred.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

How to contribute to super in 3 steps

 

Do some super planning

Talking to a financial adviser can help you clarify your financial and lifestyle goals in retirement and steps you can take now to help you get there2.

Your financial advice options

Pay yourself super when it suits you

If you have a predictable cash flow, it may suit you to set up a regular transfer into super, or you can transfer a lump sum when you have enough cash. Super can be paid into your account via BPAY or direct debit.

Pay super now

You may be able to claim a tax deduction

You’re able to claim a tax deduction for contributions you make from your after-tax income. Any after-tax contributions claimed as a tax deduction will count towards the concessional contribution cap for the financial year (currently $30,000 for the financial year). Simply let your super fund know you intend to claim using the Claiming a tax deduction form.

For more information visit ato.gov.au

With AustralianSuper and want to make a contribution?

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Superannuation tips for the self-employed

10 June 2020

Read more
Tips on superannuation for gig economy workers

11 June 2020

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Compounding and how it grows your super

21 April 2020

learn more
  1. APRA Quarterly superannuation fund level statistics March 2024. Released June 2024.
  2. Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Fees may apply.

This website is provided by AustralianSuper Pty Ltd ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898 Superannuation Fund Number (SFN): 2683 519 45, Superannuation Product Identification Number (SPIN): STA0100AU.
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