Taxi licence transfers and average prices - Sydney Metropolitan Unrestricted
The volume and average price of taxi licence transactions for the Sydney Metropolitan Transport District are published to provide transparency for the purpose of calculating the transfer tax which applies on taxi licence transfers in the following month.
This table is 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 in September 2016, this tax is calculated at $5,500.
The changes underway in the taxi, hire car and rideshare industry, including the upcoming $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 table below 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 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.