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Instalment payments for T plates

Taxis with T plates that opt in to pay their premium in instalments can reduce their premium if they travel less than 107,000 km a year.

There is an upfront instalment, followed by two more instalments four months apart. At the end of the premium year there is a final adjustment.

The upfront instalment is one-third of the fixed annual premium and pays for 22,600 km.

The second and third instalment pay for 42,200 km.

Any adjustments to the previous instalment based on actual kilometres travelled are either credited or added to the next instalment.

The Fund levy, GST and tax input credit are inclusive.

The metro taxi illustration shows how a taxi that travels 90,000km over a year can save by opting in to pay in instalments.