NSW Treasurer Matt Kean said $145 million had already been paid out and additional payments would be made early next year, once legislation to remove taxi licence supply restrictions is passed in Parliament.
To help existing taxi licence holders adapt to these changes, the package will provide $100,000 for each eligible Sydney metro taxi licence up to six licences per owner and up to $130,000 for each taxi licence outside of Sydney with no cap on the number of licences per owner.
The NSW government has consulted closely with peak industry bodies like the NSW Taxi Council and A2B Services to develop the package.
Under the package, the $1 Passenger Service Levy (PSL) will be extended from 2026–27 to 2028–29. The amount of the PSL will not be changed.
This package will form part of the NSW government’s total deregulation of the point-to-point industry. A bill is expected to be introduced to Parliament by the end of the year and funds will be distributed next year.
Minister for Transport, Veterans and Western Sydney David Elliott said the new package surpasses the one proposed to the industry in September last year.
And for regional areas, the new support will be even more important as there is little access to alternative ride services.
All eligible taxi licence holders should ensure their contact details are up to date with the Point to Point Transport Commissioner.
