Self Employed? Claim a Tax Deduction for Personal Superannuation Contributions.


It may be possible to claim a Tax Deduction for contributions you have made during the financial year if you’re not an employee. This means, generally speaking a self-employed individual will be able to claim a Tax Deduction if the following circumstances are satisfied:

  • The personal contributions are made to a complying super fund or a retirement savings account.
  • The individual’s earnings as an employee were less than 10% of your total earnings for the financial year.
  • The individual is under the age of 75 years old.

If the above are passed then the individual hoping to claim a deduction must completed and submit a Notice of intent to claim personal super contributions to the fund by the earlier of the following:

  • The day you lodge your tax return for the year in which you made the contributions.
  • The end of the income year following the one in which you made the contributions.

The fund will then need to provide documentation showing that they acknowledge your notice of intent to claim a deduction.

An individual should have their personal circumstances analysed before attempting to make tax deductible contributions to their superfund.