Super for the self-employed | Active Super

super for the self-employed

If you are running your own business, we know it can be hard to find time to think about your super.

Research shows that around 19% of self-employed people have no super savings*. Paying yourself super is not compulsory if you are self-employed, but you need to build your super if you are going to have enough for retirement.

Why save into super?

The tax breaks available to self-employed people can make super a very attractive way to save. Your super contributions can be claimed as a tax deduction and, once inside the super system, your money is taxed at favourable rates.

How do I pay myself super?

Most self-employed people can contribute up to $30,000 per year into their super fund and receive a tax benefit.

You can choose to pay yourself super regularly as an employer would or contribute a lump sum when your cash flow allows for it.

*Source: Association of Super Funds of Australia

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Any advice on this website is general only and has been issued by LGSS Pty Limited (ABN 68 078 003 497) (AFSL 383558), as Trustee for Local Government Super (ABN 28 901 371 321)(‘Active Super’). The advice does not take into account your personal objectives, financial situation or needs. Before making a decision about the product, you should consider the appropriateness of the product having regard to these matters and the relevant PDS and TMD or by calling us on 1300 547 873. If you would like advice that takes into account your personal circumstances, please contact a financial adviser.

Active Super has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195 AFSL No 232514 to facilitate the provision of financial advice to members of Active Super. Advice is provided by one of our financial planners who are Representatives of IFS. Fees may apply. Further information about the advice services that can be provided is set out in the relevant Financial Services Guide, a copy of which is available directly from the financial planner. IFS is responsible for any advice given to you by its Representatives.

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