If you're self-employed, you're not legally required to make contributions into your superannuation. However, many self-employed people choose to take advantage of the tax benefits that come with investing through superannuation by making regular contributions.
Self-employed members may be eligible for the Government Co-Contribution in relation to non-tax deductible personal contributions they make.
Self-employed tax-deductible contributions will count towards your concessional limit.
If you become self-employed after joining Health Super and wish to claim a tax deduction for your superannuation contributions, please call us on 1800 331 719 and we will then send you a form. Once this form is complete and you receive acknowledgement from us, you can then claim a tax deduction from the ATO if you meet the ATO’s eligibility criteria.
For further information, please refer to the ATO website or call 13 10 20.
Tax deductions for self-employed people
If you’re under 75, you may be able to claim a full tax deduction for superannuation contributions you make into your account. To be eligible you must earn less than 10% of your total income (including reportable fringe benefits and reportable employer superannuation contributions) from employment as an employee. For more information go to the ATO website.