The disgraced former Sydney Ferries boss says he had "no choice" but to put hundreds of thousands of dollars of personal expenses on his corporate credit card because "I was living beyond my means".

Retired Rear Admiral Geoff Smith was sacked from his job as chief executive of the state-owned Sydney Ferries in March 2009 and referred to the Independent Commission Against Corruption for racking up $273,000 in personal expenses for such things as jewellery, holidays, alcohol, groceries and private school fees.

Mr Smith, 64, a former chief of operations in the Royal Australian Navy, pleaded guilty in April to defrauding Sydney Ferries between May 2008 and February 2009.

In the Sydney District Court on Thursday, Judge Michael Finnane said he would sentence Mr Smith to two years' jail.

However, he referred him for assessment for an intensive correction order, which is similar to home detention and involves wearing an electronic anklet.