Taxi licence holders can now apply for $20,000 transitional assistance payments from the first stage of NSW Government’s $250 million industry adjustment package.
Minister for Transport and Infrastructure Andrew Constance said the payments will help licensees transition to a new business environment as a result of the point to point transport reforms.
“We’ve ushered in a new era for the transport economy under the new Point to Point Transport Act, providing taxi, hire car and rideshare customers with more choice and increased competition,” Mr Constance said.
“In recognition that these reforms have liberated the point to point market, we’ve put in place one of the most generous industry adjustment packages in the world for taxi licence holders.”
The assistance includes:
$98 million for payments of $20,000 per ordinary and transferrable licence, for up to two licences, for licences held before 1 July 2015;
$142 million for taxi licensees facing hardship as a result of the changes; and
Up to $10 million for a buy-back scheme for perpetual hire car licensees.
The NSW Government will write to more than 4,000 eligible licence holders telling them how to apply, and will process each application as quickly as possible.
Applications can be made at www.transport.nsw.gov.au/pointtopoint/industry-assistance and close on 13 January 2017.
Licence holders can contact the dedicated Taxi and Hire Car Business Advisors or the NSW Taxi Council for help in lodging their applications.
Five dedicated Taxi and Hire Car Business Advisors through the Small Biz Connect program are also available to support the industry during the implementation of the reforms.
Visit www.smallbusiness.nsw.gov.au or call 1300 661 539 to find out more.
The $250 million fund will be overseen by the Taxis and Hire Vehicles Industries Assistance Panel.