Super for the self-employed

Got your own business? We'll take care of your super

If you are a sole trader or a partner in a partnership, you are considered self-employed in terms of superannuation.

If you employ yourself through a limited company or a trust, and you make superannuation guarantee payments into your super account, you are not considered self-employed in terms of your superannuation.

Research shows that over 25% of self-employed people have no super savings. While you're building up your business, it is important to build up your super too.

The good news is you can claim a full tax deduction for your personal super contributions. Limits apply, see the super contributions limits fact sheet for details. If you're an employer, you can claim a deduction for all contributions you make for employees under the age of 75.

You can claim a tax deduction for personal contributions if:

  • You earned less than 10% of your total assessable income, reportable fringe benefits and reportable employer super contributions as an employee and
  • You’re a member of AustralianSuper and your contributions are in your super account before the end of the financial year.
What you can claim on What you can't claim on
Personal contributions to your super fund Super transferred out of your super account
Personal contributions to your retirement savings account Super transferred into a super account

If you claim a tax deduction, AustralianSuper is required to deduct 15% tax from those contributions.

How to add to your super

Self-employed people can contribute to their super by making after-tax contributions.

  1. Make your after-tax personal contributions
  2. Complete a tax deduction claim form (PDF, 270kb) and send it to us at:

    AustralianSuper, GPO Box 1901, Melbourne, Victoria 3001

  3. Receive a letter from AustralianSuper, confirming the amount you want to claim
  4. Submit your tax return.

When to claim

Once you make a contribution, you have until the end of the following financial year to claim your deduction. You need to send us your tax deduction claim form before you lodge your tax return.

For example, if you make a contribution during the 2016/2017 financial year, you have until 30 June 2018 to submit your claim. You can't claim a deduction if you've already lodged your 2016/2017 tax return.

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