Self Employed Contributions

If you are self employed you may be able to claim a tax deduction for your super contributions.

You are eligible to claim a deduction if:

  • you satisfy the ‘maximum earnings as an employee’ condition

  • you meet the age-related conditions

  • you made personal contributions to the fund

  • you have advised us of the amount you intend to claim as a deduction using the approved ATO form, which is available from the ATO website and

  • we have acknowledged your notice of intent and agreed to the amount you intend to claim as a deduction.

What is the ‘maximum earnings as an employee’ condition?


You can claim a deduction on personal contributions, even if you receive some income as an employee, as long as you satisfy the ‘maximum earnings as an employee’ condition.


Under this condition, the amount you earn as an employee must be less than 10% of your combined assessable income and reportable fringe benefits for that income year. Be aware that new definitions apply to what is considered assessable income. See the ATO website for more detail.
 

Co-contribution Deadline

The June 30 deadline for 2011 has passed. Don't leave it until the last minute for next year. If you are planning to take advantage of the Federal Government's hand out, you need to get your post tax contribution in before 5.00pm 29th June 2012.

Find Lost Super

If you have had multiple jobs you may have some lost super with other funds. Find out how to track it down here.