If you're self-employed you can claim a tax deduction on the money you pay into super. It’s a great way to make the most of your self-employment and ensure you are building a future for yourself.

You are eligible for tax breaks if you:  

  • have made a personal contribution for the current financial year,
  • are self-employed (subject to the 10% rule),  
  • are up to age 75, and;
  • lodge a notice of intention to claim a tax deduction with your fund (download the Notice of intent to claim tax deduction form).

You can make a personal contribution on a regular or one-off basis, in a number of ways, depending on which is easiest for you:

Other options if you’re self-employed  

Depending on your total income, you may be entitled to a Government co-contribution if you make a voluntary  after-tax contribution for which you do not intend to claim a tax deduction. 

You will be eligible if:

  • you make voluntary after-tax contributions to a super fund during the financial year for which you do not claim a tax deduction;
  • at least 10% of your income is derived from carrying on a business, eligible employment or a combination of both;
  • you have an income lower than the relevant threshold ($51,021 for 2016–17);
  • are less than 71 years of age at the end of the income year in which you made a contribution;
  • you didn't hold a temporary resident visa any time during the financial year;
  • you lodged an income tax return for the financial year.

If you’re not sure which type of contribution is best for you, just call our Member Advice Centre (MAC) on 13 11 84.

It's worth noting that there are some caps which limit the amount of after-tax contributions that can be made and any super contributed over the cap amount is subject to extra tax. But these caps are fairly high. For example, the non-concessional (after-tax) contribution cap is set at $180,000.00 per year. Find out more about contribution caps.

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