The government will this week introduce legislation to Parliament that will increase taxi fares and impose annual fees on ride-share providers.
The bill will also suspend the release of new owner-operator taxi licences by tender for another four years.
The Transport Commission will be able to review this if there is unmet demand in the market, however.
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Under the proposed legislative amendments, drivers will be regulated to ensure they are suitable to provide commercial passenger services and vehicles will be regulated to ensure they are safe to carry passengers.
Infrastructure Minister Michael Ferguson said the timeline to implement reforms would be finalised in consultation with the industry.
"Under the changes, ride-sourcing providers will need to be accredited, paying annual fees based on the number of vehicles, and meet increased vehicle requirements and inspections consistent with taxis," he said.
"There will also be a 5 per cent increase in taxi fares - the first in six years.
"However, consumers will be minimally impacted, as for most it will be offset by a 5 per cent reduction to credit card surcharges."
Labor's Ella Haddad said the sharing economy had affected each industry in which it operated.
"Taxi industries around the country and in Tasmania have been severely hit during the COVID-19 pandemic so it is incumbent on government to make sure they're putting in place support," she said.
Ms Haddad said the party would this week call on the government to release the final report on Electoral Act reform, in particular political donation laws.
"It's not good enough that the government is dragging its heels on this important issue," she said.
Mr Ferguson said the report was still under review by the government.
"The government hasn't rushed on this because it's a very complex piece of work," he said.
"There is no rush. The election is not due for over a year and a half."
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