The NSW Government recently announced its intention to make changes to taxi licensing arrangements. The Minister for Transport and Roads and the Minister for Regional Transport and Roads have committed to closely consulting key taxi stakeholders to set up an appropriate industry assistance scheme.
Taxi licence owners should seek their own financial and legal advice on whether they should sell their taxi licence, or whether they should buy a taxi licence.
The volume and average price of taxi licence transactions for the Sydney Metropolitan Transport District and elsewhere in NSW are published to provide transparency for the purpose of calculating the transfer tax which applies on ordinary taxi licence transfers in the following month. The information is updated by the third business day of each month.
Levy payable on transfer of a taxi licence
A levy of 2.5% of the current market value of an ordinary taxi licence is payable to the Point to Point Transport Commissioner (the Commissioner) by the transferee on the transfer of an ordinary taxi licence (Schedule 2, clause 7 of the Point to Point Transport (Taxis and Hire Vehicles) Act 2016) except in the case of a deceased estate where the new licence holder is entitled to the taxi licence under the will or on the intestacy of the current licensee. For the purpose of calculating the transfer tax in the Sydney Metropolitan Transport District, the current market value is calculated as the previous month's average taxi transfer price.
*If there are no transfers in a month (inside the Metropolitan Transport District - Sydney), the average transfer price from the previous month is carried forward.
Sydney and NSW Taxi Licence Transfers Prices - June 2021
Metropolitan Transport District (Sydney)
|Date||Number of transactions||Average Transfer Price ($)*||Price of each Transfer ($)|
8 Deceased Estate
NSW (Outside of Sydney)
|Date||Number of transactions||Area of Operation||Transfer price ($)|