If you’re self-employed or have an Australian business number (ABN) as a sole trader or partnership, paying yourself super may be a smart choice for a positive future. Find out how quick and easy it is to start contributing to a Hostplus super account – your future self will thank you.
The short answer is no. As someone who’s self-employed or holds an ABN as a sole trader or partnership, you aren’t legally required to save for your retirement. But if you don’t do it, no one else will.
If you’re ready to start saving for a future full of good stuff, why not join Hostplus? It’s easy to join online.
Whether you set up regular contributions or make lump sum payments, saving towards your retirement can have benefits both now and in the future. These could include:
Looking to start saving for your future? An important step is to choose the right super fund. At Hostplus, our history of strong long-term returns and a low admin fee help to give you the future you deserve.1
Next step? Start making payments. If you’re a Hostplus member, you can set up a regular contribution from your before-tax income or transfer a lump sum at any time. You can find BPAY Biller Codes in Member Online or the Hostplus app.
Employers must currently contribute at least 11% of an employee’s earnings to super. As someone who’s self-employed, you can choose to contribute as much or as little as you like – but 11% of your income could be a good starting point. Bear in mind, however, that there are limits to how much you can contribute to your super in a financial year. If you’re planning on claiming a tax deduction, you can contribute up to $27,500 of your before-tax income.
Whether you want to work out how much super to pay yourself or how to best structure your contributions, the right financial advice can put you on the path to a positive future. At Hostplus, we offer a range of advice options, so you can discuss your situation and discover what’s right for you.
1. Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a superannuation fund.