Assistance package for taxi owners approved

NSW taxi license holders will receive up to $195,000 per license from the State Government to assist them in the transition to a fully deregulated industry, under laws newly passed by State Parliament.

The new package provides $150,000 for every ordinary perpetual taxi license in the Sydney metro, with a cap of six plates. Each regional taxi plate will be paid between $40,000 and $195,000, with no cap on the number of plates. These licenses now have zero value and will be cancelled.

The application process will open in early 2023 for a four-month period.

The final assistance package will be funded by the passenger service levy (PSL), which will be increased by 20 cents to $1.20 (ex GST) from 1 July 2023. The PSL will remain in place until 31 December 2030, unless the full amount of the financial assistance funds is collected earlier. 

Eligible taxi licence holders should ensure their contact details are up to date with the Point to Point Transport Commissioner.

More information about the scheme and who is eligible is available here.