New reforms to boost the taxi industry in NSW

With the advent of Uber, many taxi companies have struggled for continued business growth. However, there are new reforms from the New South Wales government to make it easier for these operators, and it might enable better fleet growth throughout 2016 and beyond.

There are also millions of dollars of possible subsidies available. So if you run a business in this sector or already manage a deal for your fleet, there’s some good news ahead!

From Point to Point

The Sturgess Point to Point Transport Report was collated recently for the NSW Government, and after 5,000 public submissions, changes have been proposed for the taxi sector.

What changes are ahead for the taxi sector?What changes are ahead for the taxi sector?

“Every town and regional centre has demand for services like taxis, hire cars and community transport operators, so ensuring their survival is essential,” said state Minster for Transport Andrew Constance. This will include the repeal of up to 50 laws and regulations for taxi services, licensing rules to make it easier for regional consumers and operators, and allowances for more businesses to operate during peak demand periods.

There will also be $250 million made available for businesses that need to adjust their services to the new regulations.

“It’s important that we don’t forget those who have poured their savings into taxi licences over the past decades and ensure they get equitable assistance as this industry changes our economy,” Mr Constance concluded.

Making the most of change

This could open doors for many businesses, but the NSW Taxi Council has some reservations about the changes. It noted in a December 17 media release that some companies would have a tough time adjusting to the new landscape, and urged the state government to work closely with businesses during this time of transition.

The NSW Taxi Council has some reservations about the changes.

These concerns extend to customers, too: “It is important that these reforms improve customer outcomes, not lessen them,” the media release states.

Whatever the changes bring for the taxi services industry, it is important that drivers and employers alike have the right financial support behind them. When it comes to securing new vehicles for a company or managing costs efficiently, a novated lease can prove crucial.

It gives operators the ability to minimise contributing tax for employees, while workers in turn get their own work vehicle without a lot of the strings attached that often come with other car leases. To find out more and how it can help your industry, don’t hesitate to get in touch.