# PTY LTD



## Sydney South (Jan 31, 2017)

Does anyone drive for Uber and run their expenses and the Uber income is through a PTY LTD company?


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## Phatboy (Feb 9, 2017)

I do. I had a spare company left over from before I 'retired'. The jury is still out on if running Uber through it is smart or stupid. Ask me again in about eight months time!


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## Sydney South (Jan 31, 2017)

Phatboy said:


> I do. I had a spare company left over from before I 'retired'. The jury is still out on if running Uber through it is smart or stupid. Ask me again in about eight months time!


Is your vehicle under the company name?


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## Paul Collins (Dec 12, 2016)

Yep and vehicle is in ACN name.


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## Phatboy (Feb 9, 2017)

Yes it is.


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## whocareaboutPAX (Apr 11, 2016)

Yes it is.


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## CoolAnt (Feb 2, 2017)

I do as well


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## UBER66 (Feb 7, 2017)

Having a PTY LTD is the only way you can be covered by workers compensation in NSW


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## Phatboy (Feb 9, 2017)

I think that you are correct. I have workers comp, but wonder if it is really worthwhile for Ubering.


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## Sunsetter (Apr 19, 2018)

Phatboy said:


> I do. I had a spare company left over from before I 'retired'. The jury is still out on if running Uber through it is smart or stupid. Ask me again in about eight months time!


14months on...can I ask how are things going with using the company structure? Has it worked and are you still using this setup?


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## Who is John Galt? (Sep 28, 2016)

Sunsetter said:


> 14months on...can I ask how are things going with using the company structure? Has it worked and are you still using this setup?


This question should be directed toward the 'Coolum Crusader' aka Dory.

.


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## Sunsetter (Apr 19, 2018)

Who is John Galt? said:


> This question should be directed toward the 'Coolum Crusader' aka Dory.
> 
> .


thanks John


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## Phatboy (Feb 9, 2017)

Its good, but not perfect. In my case my company had some historic losses, which are essentially regarded as loans to the company from me. This means I have no PAYG tax liability, and can Uber to my heart's content for years without paying income tax. However, I do have some compliance costs that are probably slightly more (ASIC company registration and the accountant's bill), and as a company rather than a private individual, don't get a rebate from the state government for high toll road usage. I also pump as many costs as I can through the company (my wife's car, for instance).


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## Sunsetter (Apr 19, 2018)

Phatboy said:


> Its good, but not perfect. In my case my company had some historic losses, which are essentially regarded as loans to the company from me. This means I have no PAYG tax liability, and can Uber to my heart's content for years without paying income tax. However, I do have some compliance costs that are probably slightly more (ASIC company registration and the accountant's bill), and as a company rather than a private individual, don't get a rebate from the state government for high toll road usage. I also pump as many costs as I can through the company (my wife's car, for instance).


Ok great,I am assuming you invoice under the company name and the funds are going straight into the company bank account. So do you draw wages from the company to pay for yourself?


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## Phatboy (Feb 9, 2017)

Uber remit my earnings to the company. I don't draw wages. I take out "loan repayments".


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