Does ACRA needs to be cancelled?

SgDriverTt

New Member
Hi all uber drivers, i had signed up and drove for 5 weeks back in April 2016,now i'm totally not driving anymore. Do i need to cancel the ACRA i had registered or just ignored it since I only drove for 5 weeks?
 

NotAUberSucker

Active Member
You should not be asking Uber drivers as they are unlikely to be accountants nor have the knowledge. Anyway, as far as I know, if you registered as a sole-proprietorship which is usually the case, it is fine to leave it alone. But if for whatever reasons you had registered it under a company, then it is best to cancel it to avoid annual fees/other costs etc associated with a company.
 

UberExecSG

New Member
You should not be asking Uber drivers as they are unlikely to be accountants nor have the knowledge. Anyway, as far as I know, if you registered as a sole-proprietorship which is usually the case, it is fine to leave it alone. But if for whatever reasons you had registered it under a company, then it is best to cancel it to avoid annual fees/other costs etc associated with a company.
Uber drivers don't know? only u know? yaya papaya
 

PCMan

Active Member
Best to cancel. Besides the renewal fee, you have to submit income returns every reporting season if you keep it.
I would just leave it, and don't renew on expiry date. In life, never say never.

Submitting income tax for sole proprietorship is not that difficult, especially whey you have zero income to be declared.
 

powerpoint

Active Member
i say leave it too. its not difficult to maintain and do a zero tax submission.

if one day u decide to start a business or bill someone, u can dig this out and use it on the fly - with "some business years" based on your registration date if someone wants to check your business operating experience from acra.
 

unclesam

Active Member
if never renew for long period ( 3 years for my case ), auto cease operation , cannot activate again, can use back the same company name if u want to register a new company.
 
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