Non Compulsory Super

It may not be compulsory for self-employed business owners to pay themselves a superannuation contribution. If you are a Sole Trader or a Partner in a partnership, you are considered ‘self-employed’ and do not receive the Superannuation Guarantee. Many self-employed or small business owners re-invest their money into their businesses to fund their retirement. However, in doing this, your retirement is totally dependent on the performance of your business. Investing in superannuation allows small business owners more diversity in investment categories and keeps these funds separate from their business, helping to secure a safer retirement fund. It also provides a very tax-effective way to invest your money. Instead of receiving tax-effective contributions from an employer, self employed people can make personal concessional contributions, which are fully tax deductible (up to certain limits).

To ensure that your superannuation investment is tailored specifically for your needs and is as tax-effective as possible, speak with your Count Adviser.