Sydney motorists will be available to save on registrations costs for their vehicle, from 1 July 2018.
This will apply to owners of standard cars, utes, four-wheel drives, and motorcycles who spend more than $25 a week on tolls over 12 months.
Majority of motorists who apply for the rebate will receive sayings of $358 a year on registration costs. The highest savings of $715 will be provided to cars between the weight of 2505 and 2794-kilograms.
Private motor vehicles weighing above 2794-kilograms not be eligible to claim the benefits.
Motorcycles will save the fixed amount of $127.
However, this scheme will cost the state up to $100 million in the first year, and even more in the future.
NSW Premier Gladys Berejiklain said this initiative was aimed to tackle Sydney’s cost-of-living pressures.
“The NSW Government has made it a priority to drive down the cost of owning a vehicle with big saving being delivered through reforms to CTP Green Slips and the introduction of a Fuel Check app,” Ms Berejiklian said.
Regarding the cost of the scheme, Ms Berejiklian said that it could cost $100 million of the state budget in the first year.
“It could be more than that amount into the future. This is a growing cost to government but we know we can afford it,” she said.
However, she added that this initiative will bring the people back onto roads they previously haven’t used.