THE HOUSE.

Dominion, Volume 7, Issue 1886, 21 October 1913, Page 4

THE HOUSE.

The House of Representatives met at 7.80 p.m. The Gisborno Harbour Board, Enabling Bill was read a third time without discussion. ! , i i ~ "■ " . GOVERNMENT BILLS. OTAGO EDUCATION RESERVES. The Education Reserves Amendment Bill and the Stamp Duties Amendment Bui were introduced by Governor's Message. ho Hon. W. ERASER stated that the Education Reserves Bill amended the tenure of certain' education reserve leaseholds in tlio Waikaia district (Otago). At present tho leases were put up _ to auction _ every twenty-one years witli tho original area undiminished. Tho Bill proposed t'hat the Min- • ister of Lands should have poiver to resume these areas a t any time, on paying compensation, 'under the Lands for Settlement _ Act. Tho construction of ■ thp Waikaia . railway had made it dc- ! sirable to promote further settlement in the district. To a question by Mr. Ell, tho Minister replied that there was no proposal to part with the freehold of the areas in question. Tile Bill was read a first time.

STAMP DUTY. ;AN IMPORTANT ALTERATION. The Ho J. A. L. lIERDMAN explained that the Stamp Duties Bill contained only one important proposal—that transactions in the nature of exchange of land should be liable to stamp duty. At present stamp duty was payable only on the difference in value between the properties exchanged. The proposal iv'as that stamp duty should bo levied upon the total value of, bot'h properties. Sir.' H. G. ELL (Cliristchurcli South) asked whether the Minister had considered the question of imposing a lower stamp doty on transfers of houses or improvements on lands than on transfers of land. While houses depreciated in value, he said l , lanxl usually.appreci- ; ated to a great extent, and he.thought that a higher tax should be plaoed on , these big profits than on the transfor of houso property. ■ - I Mr. R. M'OALLTJM (Wairau) advooate'd that the law should bo altered so as to ensure that'stamp duty should ' be paid where a transaction was enter- ~ trcl into, even though it was not completed —as, for instance, when land' was held by a bank as security. _ Tlie Hon. A. L. HERDMAN said that it was not considered' desirable by the Government to render agreements for sale liable to stamp duty in the same way. as actual transfers were liable.. It had been the custom for many years to commence. negotiations for sales by nveans of simple agreements. To render these:liable; to stamp duty nvould have the effect-of disturbing ordinary commercial transactions to a great extent, and there was no knowing where the • matter would ;end.: As to Mr. . Ell's suggeistion to, make a differentiation between land and improvements, that was a revolutionary and impracticable, sug- ; gestion. 1 Mr. M'Galium: It is (lone in the case of the land tax. ' Mr. Herdman: That is a' very 'different matter. Hundreds .of transactions are going through the Stamp Office every week, and the'task of differentiation as suggested would be a very difficult matter .indeed. The Government could'not see its way this . session at any rate to adopt,the suggestion. The Bill was read a fuib tinie. ; V/ANCANUI HARBOUR BILL. : POSTPONED BY CONSENT. ' Tho next item on the Order Paper was the Wanganui Harbour Bill, which -I was ■,down for consideration of report from Committee. ■ .The PRIME MINISTER moved that consideration of the report on this Bill be postponed until after tho Patea Harbour. Bill had been disposed of. Ho had promised the House a fortnight ago that this would bo done, and ho was moving. the resolution now, in accordance wi'th that promise. He understood that tho difference of opinion in regard I'<l tho piece of territory that had not been included in cither the "Wanganui or, tho Patea rating areas had been due ,to a misapprehension, but at the same time he must keep his promise. Mr. W. A. VEITCH (Wanganui) said that ho had . understood that , tho Bill was to bo'held back until satisfactory arrangements had been made. : The area- that had been in dispute was now included in tho Patea rating area, and thoro was no need for any further delay in going on with the Wanganui Bill. Mr. G. V. PEARCE (Patea) said that tho Wanganui Bill had been deferred until it had been decided in which Bill the area in dispute should bo iricluded. Tho Local Bills Committee had since thori, by six to one, put the area in tho Patea Bill. SIR JOSEPH WARD said that, as Leader of tho Opposition, ho had rewived a communication that day 'Stating that a petition in connection with tho Bill/signed by a large number of settlers was on its way. Mi - . Pearco: The petition has arrived and is now before tho Committee. Sir Josoph Ward: The telegram that I recoived to-day stated that a petition was on its way. He suggested that Mr. Veiteh should wait until tho House Knew exactly what the position was. Mr. Massey said that when tho Leader of tho House mado a promiso it must be kept. If tho two Bills wero not reached that night ho would, see that an opportunity for their discussion • was provided on another occasion. The Prima Minister's motion was •ften carried.