OVERHEARD.

Dominion, Volume 3, Issue 913, 5 September 1910, Page 7

OVERHEARD.

AT THE DEATH DUTIES OFFICE. HOW THE NEW ACT WORKS. ,'IV.. ■ . ■ .[The manner in which increased taxation will bo extracted from widows and other beneficiaries under tho new death duties is well illustrated in this series of imaginary conversations with the Minister, l'he information afforded as to the amount of duty now collectable as com-; pared with the amount collected under the old Act has been checked by a member of the laeal fraternity and passed as correct.! ■:.. I . . ■ " • "I am executor of a sheep-farmer, and I cannot. pay the death duties in cash, but would be glad, Mr. Minister, if you would accept land to the full value instead." ..-.'..■> "Very sorry, but I cannot do it. You see there is no provision in our Act such as there, is in Mr. • Lloyd-George's recent statute enabling us to do so; Certainly you may look at Lloyd-George's Act. The Section is No. 56 of the (English) Finance Act, 1910. Let me read it to you:— 'The Commissioners may if they .'. think fit on the application of any person liable to pay estate duty-or settlement estate duty or succession duty in respect of any real (including leasehold) property accept in satisfac-/. tion of the whole or any part of.such duty such part of the property asV may be agreed upon between the Commissioners and that person: No stamp duty shall be payable on> any • conveyance or transfer of land to the ; Commissioners under this, section:'-.. The Commissioners may hold any pro-. perty transferred to thein under this' section, and 6hall deal with it in such '~ manner'as Parliament may hereafter, determine.'. , . ".• .'.- I confess myself that I think it.only, fair. we should accept land in'.cases where'' payment in cash means a sacrifice, but bir Joseph Ward thinks otherwise, pro- ~ bably because Mr. Herdman suggested it. . ; . ' ;,- N . .•■:■ "No, our. system. of etatute> drafting is to copy all the, severe clauses out. of the English Acts, and omit'all the remedial ones. That is true.Liberalism. You see a pernicious system of ; avoiding tax has grown up.in New Zealand. 1 /Wealthy men will' persist in- providing for their wives and children during their: lifetime.. Not, I_assure you, from motives, of duty or affection, but purely to keep the Liberal treasury short of cash." . "No, we don't gloaf over the corpses, but we are-toot sorry to ,see a wealthy man die. now and. again. : Every little helps, and to a Government that exists chiefly on increased taxation and borrowing, each windfall'means a; few .weeks' longer in office. We cannot afford to encourage ■ thrift,„or ;economy..' That has been' the Liberal. policy since, the death of Mr. BaUance in 1593, and I assure you we couldn't live:a month if we changed it; No one likes the-.Government-for itself, but only ,for what they can get out Of it in the, way of roads, bridges, railways, and post offices; Yes, I agree with you; it must come to. an ; end some day, but not in Sir Joseph Ward's time. He is the greatest .Liberal-financier the' world has,ever.seen;.Gladstone was a child compared with- him:. we .express the three outstanding. periods in. New' Zealand history by what we call the political rule of B thus:- ' . .'■'-:.: ■ -'■

;■ - Vogel. Borrow, r. is to Seddon, Borrow and Boom as Ward is: to 'Borrow Boom, and Burst "Sorry I can't,take: jour land: cash is what we require. In any case, your land is rained'far..too high.for : anything .but taxation purposes!" .'. ,;: