Western Australian Current Acts

TRANSPORT (ROAD PASSENGER SERVICES) ACT 2018 - SECT 238

238 .         Amount of net loss payment: taxi plates purchased before 1 January 2016 and sold on or after 1 January 2016 and before 2 November 2017

        (1)         This section applies to determine a net loss payment in relation to taxi plates purchased before 1 January 2016 and sold on or after 1 January 2016 and before 2 November 2017.

        (2)         Subject to section 239, the net loss payment for the taxi plates is to be determined in accordance with the following formula —

        where —

                A         is the greater of the floor payment for the taxi plates and the net loss associated with the taxi plates;

                B         is any outstanding fees in relation to the taxi plates;

                C         is any Hardship Fund payment paid to an owner of the taxi plates;

                D         is the amount received for the sale of the taxi plates, excluding any GST liability incurred in connection with the sale;

                NLP         is the net loss payment for the taxi plates.