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Super for
self-employed and sole traders

If you’re self-employed, paying yourself super could be a smart choice to set yourself up for a positive future in retirement. Find out how you can start contributing to a Hostplus super account – your future self will thank you.  

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Do I need to pay myself super if I’m self-employed?

If you’re a sole trader or in a partnership, you can choose to pay yourself super. Even if it's not a legal requirement, investing in your future can make a big difference come retirement.

Spending a few minutes today can pave the way for a much brighter future. Join Hostplus in less than five minutes and start paying yourself super today. 

Why should I contribute to my super?

There are positive benefits to saving for your retirement:

  • Pay less tax. Super contributions are taxed at 15% so, depending on your income, contributing to super could help you save tax. 
  • Get better returns. Superannuation investments generally perform better than other interest-bearing accounts, which means faster growth over time.1
  • Grow your savings. Small amounts invested consistently have the potential to grow over time – that’s the magic of compounding returns.

As an extra incentive, if you earn less than $60,400 a year and make after-tax contributions to your super, you might be eligible for the government’s co-contribution scheme. If you qualify, a maximum of $500 could be paid directly into your super each year.

By starting early and staying focused on your retirement goals, you’re giving yourself the best chance to achieve financial stability.

How to pay yourself super

If you haven't already, join Hostplus. During this process you'll be prompted to consider your investment choice and insurance preferences.

As someone who’s self-employed, you decide how much to contribute – and it can be as much or as little as you like. A good starting point? Choosing a consistent amount or percentage to contribute. Bear in mind that you can only contribute a maximum of $30,000 of your before-tax income, but you can also choose to make after-tax contributions of up to $120,000.

If you're self employed, you can pay yourself super when it suits your business – you don’t have a mandatory payment dates. You can set up regular contributions from your before-tax income, or transfer a lump sum from your after-tax savings. 

Use BPAY to make the payment – you can find your unique BPAY details in Member Online or the Hostplus app.

If you’ve paid yourself super from your after-tax salary, you can claim a tax deduction. There are some eligibility rules, but in most cases you can simply log in to your Hostplus account and complete a 'Notice Of Intent To Claim A Tax Deduction' form. If you do claim a deduction, these contributions will count towards your $30,000 concessional contribution cap.

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Why join Hostplus?

At Hostplus, we put our members first. We're focussed on maximising your investment returns and putting more money in your pocket.

Strong long-term performance

Our award-winning2 investment options have delivered consistent, long-term returns, with one of the lowest admin fees of any MySuper product.3 That’s more to invest in your future.

Investment choices

We know that everyone’s situation and goals are different. That's why we offer a wide range of quality investment options - from high growth to indexed, SRI, defensive and more - so you can choose the best investment for you.

Quality insurance

Insurance is particularly important when you’re self-employed. By joining Hostplus, you may be eligible to access our competitively-priced income protection, total and permanent disablement (TPD) and death cover.

Expert financial advice

Need help with planning for your future? Our qualified financial planners can help you achieve your goals. Hostplus offers financial advice by phone, online and in person in every state and territory.

Need some help?

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Speak to our team now using live chat. 

Phone

Call us on
1300 467 875.

Online enquiry

Connect with our team using our online form.

1. Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a superannuation fund.

2. Awards and ratings are only one factor to be taken into account when choosing a super fund.

3. Source: SuperRatings fee data for public offer MySuper products extracted from SMART platform on 6 August 2024. Comparison is based on the total administration fees and costs assuming a $50k account balance. Other fees and costs apply. Refer to the PDS for more information, available at hostplus.com.au/pds.