Cabcharge Australia Limited
(ASX:CAB) says the ACT government is planning to impose a 5 per cent cap (inclusive of GST) on service fees for non-cash Taxi payments.
Although the proposed legislation is yet to be drafted, the ACT government has advised the cap will be introduced at the end of this month.
Cabcharge currently processes about $33.9 million of taxi fares in the ACT annually and the new cap would decrease the company’s taxi fee service income by $1.8 million.
Cabcharge Australia reported a net profit of $46.79 million at 30 June.
