Uber and ride-sharing services in Queensland will be legal from early September - with the taxi industry to be compensated with a $100 million "transition package" to be funded by the Palaszczuk government.

Transport Minister Stirling Hinchliffe announced the package on Thursday, announcing it would include "one-off" payments of up to $40,000 for existing taxi licence holders - $20,000 a licence, capped at two licences, with limousine licence holders receiving up to $10,000.

The fund, which Mr Hinchliffe said would come from government funds, not a levy on trips, would also include a $26.7 million "hardship fund" taxi licence holders would be able to apply for, to ease the transition.

Fees for the taxi industry would be waived up to the tune of $4.3 million with a further $3.75 million available for the taxi industry to improve their business.