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$750 cash splash for Aussie drivers

·Personal Finance Editor
·2-min read
A composite image of Australian currency fanned out and drivers on Sydney a Sydney road stuck in traffic.
Sydney drivers who use toll roads will be able to access up to $750 cash back. (Source: Getty)

Drivers in Sydney will be eligible to get up to $750 cash back in an effort to ease cost-of-living pressures due to rising tolls.

Almost half a million motorists will be eligible for the rebate on their toll bill, with those based in Western Sydney expected to benefit the most.

Only those who spend at least $375 on tolls per year can access the rebate.

The rebate program, which replaces the existing half-price registration scheme, will take effect from July 1.

The scheme will cost the NSW Budget $520 million, but NSW Treasurer Matt Kean said it was a “small price to pay” to help those struggling with rising costs.

Premier Dominic Perrottet said it was a move to address the rising cost of living.

"We know many families across our state … have been doing it tough," Perrottet said.

“We're using the NSW Budget to help family budgets, right across our state.”

For tolls incurred up to 30 June 2022, road users can continue to receive vehicle registration relief until 30 June 2023.

For tolls incurred from 1 July 2022, customers can access the new program and will receive their first rebate payment in early 2023, followed by quarterly payments.

The M5 South West Cashback Scheme will continue.

Rising cost of tolls

This comes as Transurban, which operates most of Sydney’s toll roads, flagged it would be increasing tolls by 2 per cent on some of Sydney’s motorways on July 1.

The increases will affect those travelling on the M2, the Cross City Tunnel, the M7 and NorthConnex.

Transurban told investors tolls on those motorways would increase quarterly to match inflation increases.

For many motorists - particularly those who travel from the western suburbs into the city for work - the rising cost of tolls has been an ongoing issue.

Many of the motorways connect to one another, meaning some commuters are hit with multiple tolls every day.

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