Super for the self-employed
Contributing to your super is a great way of saving for retirement.
If you are self-employed, you don’t have to make superannuation guarantee payments for yourself. But you may choose to contribute to super anyway. And there are provisions and enticements for you to do so.
Most self-employed people under the age of 75 can claim deductions for contributions they make to their superannuation. You can make these contributions regularly throughout the financial year, or in a lump sum. Contributions caps still apply, so make sure you stay under the cap to avoid paying the excess Concessional Contribution Charges.
Providing us with your Tax File Number will also ensure you don’t pay more tax than you have to.
If you are a low-to-middle income earner, you may also be eligible for the super co-contribution on any contributions you make that you do not claim as a deduction.