SMSF Contributions | SMSF for the Self Employed | SMSF S82AAT | SMSF section 290-170 | SMSF deductions

If you are self employed, you can tax-effectively contribute to your SMSF. You can claim a tax deduction on Superannuation contributions in your business. The contributions made to your SMSF is called concessional contributions as it will be taxed at the concessional rate of 15% in your SMSF.

There's an annual cap (the concessional contributions cap) of $25,000 ($50,000 if you are 50 or over) that applies to your concessional contributions. It is important not to breach this cap as a penalty tax will apply if you do. You should complete a  Deduction for Personal Super Contributions (click on the link). This form is called a section 290-170 notice and was formerly known as Section 82AAT notice. For more info on this from the ATO, click here.

Please complete this form and give Superannuation Warehouse a copy of it. This will be used to complete your SMSF tax return.

You can also contribute an extra $150,000 per year into your SMSF as a non-concessional contribution.