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Can I change from a PAYG to Pty Ltd structure during my contract period?

Can I change from PAYG to a Pty Ltd company?

Yes, you can change from PAYG to a Pty Ltd company. To make this transition, you will need to provide the following:

  1. ABN of Pty Ltd company
    1. if a Trust, the ABN of the company underneath the Trust
    2. copy of the trust deed may be requested to clearly show the trustee and trust relationship.
  2. Company Bank Account details (it can't be a personal bank account)
  3. PI/PL Insurance Certificates of Currency (if using your own)
  4. Workcover or Income Protection Insurance Certificates of Currency (depending on which state you are operating in)
  5. RCTI acknowledgment 
  6. Company details
    (Items 1–5 above will be collected when we issue you a new registration link)
  7. Signed contractor agreement from the Recruiter detailing your Pty Ltd company as the contractor and yourself as the nominated consultant. The agreement must state the correct start date of the transition and be matched with the invoicing cycle of the end client.

What else do I need to know about changing to Pty Ltd?

  • We are unable to engage an entity registered as a Sole Trader/Individual or as a Partnership.
  • The bank account must match the company entity name.
  • In certain engagements, PI/PL and Workcover insurance can be obtained through Oncore at a cost, depending on which state you are operating in and the insurance requirements of that state.  Please liaise with your recruiter on this.