Taxi licence transfers and average prices

The volume and average price of taxi licence transactions for the Sydney Metropolitan, Newcastle and Wollongong Transport Districts are published to provide transparency for the purpose of calculating the transfer tax which applies on taxi licence transfers in the following month.

These tables are updated by the third business day of each month with details about transfers in the previous month.

Under section 44 of the Passenger Transport Act 1990, a tax is charged on transfers of taxi licences, calculated at the rate of 2.5% of its current market value. For Sydney Metropolitan taxi licence transfers, this tax is calculated at 2.5% of the previous month's average transfer price. For regional taxi licence transfers, current market value is calculated as the average of the last three transfers in an area over the past three years.

The changes underway in the taxi, hire car and rideshare industry, including the $250 million industry adjustment assistance package, have coincided with a generally reduced volume of Sydney taxi licence transactions.

The average price of transfers may be prone to significant variance given each sale is based on a number of variables, including the personal circumstances of the buyer and seller. Where data in the graph and tables relates to a small number of transfers, the average price may not be indicative of overall market trends. It is important to also note that this data does not constitute the actual prices that taxis licences may be bought and sold – this is ultimately a matter between the vendor and the purchaser.

From June 2016, Roads and Maritime is reporting the actual number of Sydney Metropolitan transfers per month when it is less than 5 and the price of each transfer. Recent amendments to passenger transport legislation now allow the release of more details about transfers, increasing transparency to the market.

For the purpose of Transfer Taxi Calculation:

Chart - Taxi Transfer Values - Sydney Metropolitan

for the purpose of Transfer Tax Calculation

Line chart showing the average value of taxi licence transfers by month from January 1990 to the present, for the Sydney Metropolitan Transport District. Click for a larger version of the chart. The data for this chart (from 2008 onwards) is available in the table on page titled "Average price of Sydney Metropolitan taxi licences by year and month". Please contact us if you require the 1990-2007 data.
Click for a larger version (PNG, 51Kb)

Note: the data for this chart (from 2008 onwards) is shown in the table Taxi Transfer Values – Sydney Metropolitan Transport District.

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