The Industry Adjustment Assistance Package
The NSW Government established the industry adjustment assistance package of up to $250 million. The assistance funds have been made available across three schemes:
- up to $98 million for transitional assistance for eligible taxi licence holders and taxi training schools,
- up to $10 million for an additional assistance scheme for eligible hire car licence holders, and
- up to $142 million for a further additional assistance scheme, targeting those detrimentally impacted by the point to point transport reforms and in financial hardship.
A Taxi and Hire Vehicle Industries Assistance Panel (the Panel) was established to oversee the industry adjustment assistance package.
The industry assistance package is being funded by the Passenger Service Levy. From 1 February 2018, all point to point transport service providers need to pay the temporary $1 levy on all trips (including taxi, hire car and rideshare) taken in NSW. Service providers can choose to absorb this cost or pass it onto their passengers (with GST).
The levy will be in place for no more than five years, or until it raises the full amount required to fund the industry adjustment assistance package - whichever comes first.