Taxi owners can expect an average refund of $1,255 and businesses around $265, starting today (22 January 2018). This puts $52 million back into the pockets of businesses and taxi owners. They are the first to receive refunds under the new greenslip scheme in NSW, which began 1 December 2017.
Cheaper green slips
Many vehicle owners paid too much for their current green slip under the old scheme, before 1 December 2017. The refund applies to your vehicle at midnight 30 November 2017, so the closer you purchased a policy to 1 December 2017, the bigger your refund.
Individual vehicle owners can look forward to their refunds from March 2018. Note, some regional areas will be notified of refunds during February, to test the refund system.
What to do
You do not have to contact your insurer. In March, the government will run an ad campaign to let you know how to claim your refund through Service NSW.
If your refund is less than $10, it will reduce your Fund Levy by $10 rather than be returned to you. The Fund Levy is a separate charge on your green slip that pays for people who are seriously injured and need lifetime care.
Greenslips.com.au has the latest news about greenslip refunds and helps you find the cheapest green slip.