TODAY marks the start of the new CTP Green Slip Scheme, which will deliver significant premium reductions, refunds to around 4.2 million vehicle owners and greater protections for injured road users.
Minister for Finance, Services and Property Victor Dominello said business customers, including taxi owners, would be the first to receive their refund.
"From mid-January 2018 we will be distributing refunds to around 100,000 business customers. From March 2018 individual policy holders will also be able to access their refund online via Service NSW. So it's a double win for motorists in 2018 - cheaper Green Slips as well as refunds," Mr Dominello said.
"The Government is returning $300 million to vehicle owners, with $66 million being returned to business customers (including $37 million to business owners of cars and light goods vehicles). Sydney taxi owners could receive refunds of up to $2100 per vehicle.
"Sydney drivers, who pay the highest Green Slip prices, will see the largest refunds, at an average of $70 and country drivers will be $30 better off."
Refunds will be delivered through Service NSW, with an advertising campaign commencing from March to inform motorists of how to claim their refund and other benefits of the new scheme.
The new scheme will also deliver significant savings for drivers. The average Green Slip price for Sydney drivers next year will be $553 down from $710 this year. The average premium for Sydney taxi owners will come down from $8,336 to $4,947 on average during the same period.
There is a new safety net allowing all injured road users, regardless of fault, to access benefits for loss of income, medical expenses and care for up to six months, with lump sum compensation retained for those with long-term injuries.
The CTP reforms are one of a raft of NSW Government measures helping to ease cost of living pressures for households. The Government has this year also introduced free car registration for regular toll users, cheaper hospital car parking and the FuelCheck app. For further information on the new scheme visit www.sira.nsw.gov.au