LAND TAXES.

Dominion, Volume 2, Issue 602, 2 September 1909, Page 5

LAND TAXES.

♦ — GRADUATED SCHEMES IN TWO STATES. VICTORIAN EXODUS, LAND WANTED FOR SETTLEMENT. IBy TclcKr»ph.-Pr««« Ae«oel»lloo.-Ooo»rtibl.l. Melbourne, Septcinbor 1. In tho Legislative Assembly, tho State Treasurer (Mr. W. A. Watt) introduced land, taxation proposals which provide for tho'fo!lowiiig graduation according to the unimproved valuo of tho laud: — Unimproved value. Amount of tax. £500 to £2500 l<j- in£ £2500 to £&000 •• 3d. in £ £5000 to. £10,000 Id. in £ The tax proportionately increases to 2d. in tlio £ where tho valuo is £50,000, and to 3d. in tho £ on estates above £80,000. The Treasurer, in moving the second read, ing, said, the main objects of the ■ Bill were, firstly, tho extension of agricultural settlement; and, secondly, to meet an expected shortage of Customs returns, from the Commonwealth. ■ ■''■.■ It was proposed to break up large estates by a process of steady decrease; the reason for exemption up to £500 was a desiro to see closer settlement. .

At present there were 405 estates in Victoria, each over £26,000 in capital valuo. There wore forty-five men holding 1,296,000 acres of a value of £7,153,000.

Owing to the scarcity of land for. settler, ment, the Government had found a difficulty in keeping the , people. During the past twenty-seven years Victoria had lost , over 12,000 by excess of emigration over immigration. ■ ■•.'..'•■ The Treasurer expected the tax to yield £318,000 annually, including the presentland tax.. Ho proposed to earmark £50,000 annually for reduction of railway freights and the construction of country railways. '' ; | , Mr. Prcndergast, State Labour Leader, indicated that the Labour party wonld Bupport the tax. . ' ■■'.' ;.' ■ . GRADUATED LAND TAX IN SOUTH AUSTRALIA. : Adclsldo, September 1. '.In tho State Assombly the.Premier, Mr. l'eako, moved progressive land tax motions similar to those, introduced'last year.