I am self employed through an ABN - Do I need to pay my own super?

I don't own a company or a trust, I just contract myself out and have an ABN - I have not put any super aside since I started doing this - Do I need to and how does it work?

I realise that if I had a trust I wouldn't need to - but this isn't how I set myself up.

I live in AUSTRALIA

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  • the ox
    Lv 7
    9 years ago
    Favorite Answer

    I'm self employed with an ABN and no you don't have to pay your own super.

    Quite often I have paid money into a Super Fund which was tax deductible but the last couple of years I have only been working part time due to family issues and I haven't bothered putting any super away

    So its up to you if you do or you don't

    You used to be able to claim the first $5000 and then 75% of the rest as a tax deduction but they change it every year so it may be different now

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