NSW government to give taxi drivers $905m in compensation for devalued licence plates
by Australian Associated Press from World news | The Guardian on (#65JZE)
Payments will be $150,000 for Sydney taxi plates and between $40,000 and $195,000 for regional plate holders
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The New South Wales Taxi Council has accepted a $905m package from the state government to compensate drivers for vastly devalued taxi plates in the face of competition with popular ride-share apps such as Uber.
The decision to accept the proposed package on Tuesday was on the proviso the payments were linked to capital gains tax to minimise tax payable, as Victoria did for its compensation package, the head of the Taxi Council, Martin Rogers, said.
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