RSL Cabs goes into voluntary liquidation after 70-years on NSW roads due to licence changes

A taxi company that operated across Sydney for more than 70-years closed its doors after shareholders voted to voluntarily liquidate. Here’s what sparked the end of the road.

A major shake up to the taxi industry has seen one of the oldest cabbie vendors in the country close its doors.

RSL Cabs entered voluntary liquidation earlier this year and have since ceased trading after operating across Sydney for more than 70 years.

According to the appointed liquidator Jonathon Keenan, they are “over halfway” through the process.

“We’re in the throes of realising assets and dealing with and discharging the various liabilities,” he said.

“We will then proceed to distribute funds to the shareholders”.

RSL Cabs drive through Elizabeth street during the Anzac Day march in Sydney in 2028. Picture: Brendan Esposito

Formerly trading under names True Blue Prestige, Southern Cross Taxis, Northern Beaches Cabs and Southern Cross Cabs, the company hit the road in 1946 and quickly established itself as leaders in technology.

The company was one of the first Australian fleets to embrace two-way radio service.

The company was one of the first Australian fleets to embrace two-way radio service.

This masthead understands the decision to enter liquidation came after a majority of RSL drivers were impacted by the licence regime change in 2022.

The change saw cabbies no longer owning their licence outright, but shifting to a $200 annual licence leased from the government.

This led to the exit of many traditional cab owners within the company and prompted shareholders to vote in favour of voluntary liquidation.

However, through the process, taxi giants Black and White Cabs have acquired more than 40 RSL drivers.

Black & White Cabs has acquired more than 40 RSL drivers.

NSW Taxi Council chief executive officer Nick Abraham told this publication there would be financial assistance provided to cab drivers affected by this change.

“It wasn’t exactly the amount that reflected the true value, but it was some relief that was provided to the licence owners,” he said.

“It worked out about $760m but we believe the true value was $1.5b that has been affected by the limits on taxi licence supply.”

While Uber was not responsible for the fate of RSL Cabs, Mr Abraham said the ride sharing app – to a degree – was controlling the market because of an unfair advantage.

“Over recent years, we’ve probably seen a bit of less of what was meant to be competition because of their unlimited supply of vehicles on the road they have access to,” he said.

“The Government says that certain safety measures have to be met from security and cameras in the car for taxis to be eligible, but Uber doesn't have to do any of that.”

Uber was contacted for comment but said it wouldn’t comment on competitors.

RSL Cabs was also contacted but did not respond.