Taxi licence holders forced to live off aged pension as the licence value drops

June 13, 2017
He said he had heard anecdotally of many more in Brisbane where the situation was far worse.

“Licenses were leased to operators at about $2700 a month, then are now down to $800 a month,” Mr Gardiner said.

“It’s disappointing that this government gave away assets that people have worked very hard for.
“It’s forced independent retirees, who have worked very hard to buy an asset that the government sold them and now find themselves having to live on the aged pension.”

At one stage Mr Gardiner said taxi licences were worth about $550,000. He said he was unsure of the current price in Cairns now.

A TransLink spokeswoman said that the personalised transport legislative changes, passed in State Parliament last month, would provide certainty to the industry, reinforce taxi licence values and allow them to appreciate in value into the future.

“Existing taxi service licences have retained their perpetual status and still provide the opportunity for revenue generation under the reforms. Additionally, no further perpetual taxi licences are planned to be released by the Government in the future,” the spokeswoman said.

“Taxis continue to have exclusive access to rank and hail services.
“Ride-booking drivers cannot collect customers from a rank, drop customers off at a rank, stand at a rank or be hailed from the street.”

Eligible taxi and limousine licence owners and operators could apply for industry hardship payments as part of the Palaszczuk Government’s $100 million Industry Adjustment Assistance package (IAAP). Applications will be accepted until Friday 28 July.

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