APPLICATIONS FOR FINANCIAL ASSISTANCE FOR TAXI LICENCE OWNERS AND TAXI LICENCE TRANSITION BEGAN ON 1 FEBRUARY 2023
The NSW Taxi Council has accepted the revised package offered by the NSW Government following late night deliberations with the Board. The decision was made in response to a number of discussions with Taxi licence owners and industry representatives which were held throughout yesterday following the NSW Government's announcement of an increased package for Taxi Licence Owners.
CEO, NSW Taxi Council, Martin Rogers said, “Considering the 7 years that licence owners have already been waiting for compensation, understanding that an independent expert could take up to 2 years to determine a compensation amount and that there are only two weeks left of Parliament before it finishes. The Board of Taxis NSW has made the decision to accept the proposed package from the NSW Government, with the proviso that the payments are linked to CGT (Capital Gains Tax) to minimise Tax payable, as achieved in Victoria.”
The package accepted by the NSW Taxi Council provides $150,000 for every Sydney metropolitan taxi licence holder with a cap of 6 plates. Each regional taxi plate will be paid between $40,000 and $195,000, with no cap on the number of plates.
On 17 November 2022 the NSW Parliament passed the Point to Point Transport (Taxis and Hire Vehicles) Amendment Bill 2022. The Bill provides for a package of reforms to help the point to point transport industry provide more choice and availability of services for customers, in response to the Point to Point Independent Review in 2020. The changes to the law will not take effect immediately, they will start at a future date to be chosen by the NSW Government.