Super Strategies for the Self Employed

One of the best tax deductions that a self employed person can make is to make a contribution into their superannuation fund. Concessional contributions into a superannuation fund are taxed at 15% on entry to your fund, but you may be able to claim a tax deduction saving you up to 46.5% in tax.

To use this strategy, a self employed person may still earn some income from an employer as long as it is less than 10% of your combined assessable income and reportable fringe benefits for that income year.

This strategy will not be right for everyone, so please seek financial advice first.