Skip to main content Skip to log on Skip to search Accessibility at CommBank

Invest in you: why sole traders should prioritise super

Are you investing in yourself as a sole trader? Here are 7 ways you can invest in your financial future.

As a sole trader (including freelancers), you wear many hats – entrepreneur, manager, marketer, and more. But there's one role you can't afford to overlook: your future self's financial planner. In the hustle of running your own business, it's easy to forget about superannuation. However, paying super to yourself is not just a smart move; it's essential to help secure your financial future.

Why is super so important?

  1. Tax benefits: Contributions to your super fund may be tax-deductible, which may reduce your taxable income and save you money. Plus, the earnings within your super fund may be taxed at a lower rate than other income you earn, helping your savings grow faster.
  2. Government incentives: If your income is below a certain threshold, the government may chip in with co-contributions, giving your super a boost.
  3. Compound growth: The earlier you start, the more you benefit from compound interest. Even small, regular contributions can grow over time.
  4. Retirement security: Unlike salaried employees, you don't receive compulsory employer contributions. Building your own super helps ensure you won't be left high and dry in retirement.
  5. Investment opportunities: Super funds offer access to diversified investments within a concessionally taxed environment, which can offer better growth potential compared to investing outside super.
  6. Insurance coverage: Many super funds include life insurance which provides financial security to your beneficiaries in the event of your passing. They also offer income protection, total & permanent disability (TPD) and terminal illness if you can't work due to illness or injury.
  7. Business wealth wersus super: Relying solely on selling your business for retirement is risky. A well-funded super account can provide stability and an additional income stream.

Don't wait until it's too late. Start paying super to yourself today and ensure that your future self can enjoy the fruits of your hard work. Remember, your super is not just an expense and can be an investment in your future.

Chart your own course

Being self-employed gives you the freedom to chart your own course, but it also comes with the responsibility of planning for your future. By prioritising your superannuation, you're not just paying yourself; you can potentially be securing your financial independence and peace of mind for years to come.

Take control of your financial future today

Essential Super is designed to sit alongside all your other banking needs, making it easier than ever to manage your super contributions.

Explore Essential Super

Things you should know 

  • This page is intended to provide general information only and does not take into account your individual objectives, financial situation or needs. The above information is not tax advice.

    Taxation laws are complex and subject to change. Commonwealth Bank does not provide tax (financial) advice under the Tax Agent Services Act 2009 (Cth). You should consider seeking independent tax advice from a registered tax agent, accountant or adviser before you make any decisions based on this information.

    Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (referred to as Colonial First State, CFS, ‘we’, ‘us’ or ‘our’) is the Trustee of Essential Super ABN 56 601 925 435 and the issuer of interests in Essential Super. Essential Super is distributed by the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The CFS Group consists of Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 (HoldCo) and its subsidiaries, which includes CFS. The Bank holds an interest in the CFS Group through its significant minority interest in HoldCo.

    This information is issued by CFS and may include general financial product advice but does not consider your individual objectives, financial situation, needs or tax circumstances, and so you should consider the appropriateness of the advice having regard to your circumstances before acting on it. The Target Market Determination (TMD) for Essential Super can be found at cfs.com.au/tmd and includes a description of who the financial product is appropriate for and any conditions on how the product can be distributed to customers. You should read the Product Disclosure Statement (PDS) and the Reference Guides for Essential Super carefully and consider whether the information is appropriate for you before making any decision regarding this product. Download the PDS and Reference Guides at commbank.com.au/essentialsuper-documents or call us on 13 4074 for a copy.

    None of the Bank, HoldCo, CFS, nor any of their respective subsidiaries guarantee the performance of Essential Super or the repayment of capital by Essential Super. An investment in this product is subject to risk, loss of income and capital invested. An investment in Essential Super is via a superannuation trust and is therefore not an investment in, deposit with or other liability of the Bank or its subsidiaries.