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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% (or 30% for high income earners) on entry to your fund, but you may be able to claim a tax deduction saving you tax at your personal tax rate on the amount contributed.

Note that there are limits on the amount you can contribute to super and penalties if you exceed these limits.

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