MY MONEY

Uber now legal in NSW, WA and ACT: what does it mean?

By

Uber takes to the road legally

Uber X is now legal in NSW, Western Australia and the ACT. What does this mean?

Uber drivers will now have to pay a registration fee of $45 and be subject to criminal and safety checks. Uber and taxi services will both incur a $1-a-trip levy for a maximum of five years.

uber now legal

The money will be used to compensate retrenched taxi drivers. The price of taxi licence plates will also fall.

It is now illegal for Uber drivers to pick up passengers from a taxi rank or at the curb, a measure aimed at promoting fair competition between the two services.

Uber is fighting to exempt its drivers from paying GST, as the debate continues as to whether drivers are considered employees or contractors of the company.

While the tax office won the case in May, the matter has been taken to the High Court.

Fees cut for ETFs

State Street Global Advisors has reduced the fees on a number of its exchange traded funds (ETFs).

The SPDR S&P/ASX 200 Fund (ASX: STW) now costs 0.19% a year, down from 0.286%, while the SPDR S&P World ex Australia (Hedged) Fund (WXHG) and the SPDR S&P World ex Australia Fund (WXOZ) are now 0.35%pa and 0.3%pa, down from 0.48% and 0.42%.

Deal on climate change

The controversial climate change summit in Paris late last year ended civilly, with an agreement among all 190 countries, but it puts pressure on Australia to cut greenhouse gas emissions even further.

The pact seeks to limit any increase in global temperatures to 2C. Australia has a target of a 26% to 28% drop in emissions by 3030 but under the agreement those figures will be reviewed every five years from 2020 and are expected to be made more ambitious.

The centrepiece of Australia's efforts is the Department of the Environment's Emissions Reduction Fund.

The government wants companies to put forward ideas on how they can make their workplaces "greener" and successful proposals will receive federal funding.

RELATED STORIES

Post a comment
Link to something Q5FnCQUy