TURNBULL BEQUEST

Dominion, Volume 13, Issue 29, 29 October 1919, Page 6

TURNBULL BEQUEST

QUESTION OF DEATH DUTIES

PLEA FOR REMISSION

A statement was made in the Itouee yesterday by Mr. T. SI. AViSford asking for consideration for the beneficiarics under tlio will of the late Mr. A. H. Turnbull, who, it will ha remembered, left the most valuable part of his estate, the Turnbull Library, as a gift to His Majesty. On 'bolialf of the beneficiaries tho Public Trustee, as exccutor under tlio will, petitioned Parliament for remission of duty in respect of that part if the estate comprised iu the library. The question was referred to a committee, but the committee had "no recommendation to make." Mr. Wilford was Minister of Stamp Duties in the .National Government, but he did not slate whether it *-p.s in this capacity that he made the statement to the House, or simply as amicus curiae. Ho made tho statement by the indulgence of the House. Mr. Wilford said that after the library had been given to the State, there remained of the estate some -£26,000, to bo divided into threo equ;.l parts, ono part to go to his brother, ono part tn his sister, and one part to the children of another sister. The lirsrt two of the beneficiaries were well-to-do, but this could unfortunately not be said of the group of beneficiaries to tako the third portion, and it was therefore somewhat hard if this third portion were_ to be unduly reduced by the subtraction of heavy duty in Tespect of that part of the estate given to the Crown. Mr. Wilford spoke of tlie magnificence of the gift of this library, and mentioned somo of tlie treasures contained in it. He told the House also that this was not tho only "srift that had been given by Mr. Turnbull to the State, for in 1313 lie had given his priceless eollect'on of New Zealand and South Sea f-urios, on condition that the gift should be accented anonymously.

Mr. Wilford sakl that in 1907 Mr. TurnbuVl first made a will tlevisiiicr his library for a. public purpose, but on tlmt occasion ho left it to Victoria College. On March 1 he altered tho will by a codicil, by which lm gave tho library to tlm Crown, and prescribed conditions undor which it was to be held. .Mr. Wilford pointed out that at the when the wilt was first lundo no duty was payable in respect of tho estate given lo tho Crown, hut only on those portions given to other beneficiaries. This law had been altered in 1009, and the sii<>eesHon made was that when Mr. Tnrnbull altered his will in 1918 ho did not know of the change that had been made in the law. The addition of the value of the library to the eslato made the rate of duty payable higher, and ho suggested that tho toll to be taken of tho remainder of tho estate, to go io the relatives, would be unduly heavy if the assessment of duty on the'library were to be insisted upon. The Parliamentarv Librarian had assessed the value, of the'library at .480,000. Assuming it to be worth .450,000. the total amount of duly payable would be .£6200. If tho vain." of the library were to lie assumed to bo J:80,fl00, the (inly would 'be .i10,2!W. He asked for remission of duty cn this bequest to the State, and he pointed to the case of the gift of Cornwall Park to Auckland by Sir John Logan Campbell. He said that in that case duty was remitted by special Act. Mr. Myers (who was Sir John Camnbell's business partner): Not at all. Ho paid £14.000 duty on it. Mr. Wilford then referred to '.he Cawlliron bequest, saying that although duty had been paid on it, the Government ■would make lip that duty by (he peyment of subsidy to the funds of tho trust. If the present Government would not do it, then it would lie done by another Government soon to come into power. Mr. Massey: Is that playing tho fame? When you arc given an opportunity to make, a statement in the .House von tnka advantage of it to talk narty politics! Mr. WilfoTil: That isn't party nolities. Mr. Massey: I think it is. It isn't playing the game. Ton will not get another chance. Mr. Wilford again denied that he was making a party speocli. and accused Mr. Massey of being thin-skinned. Mr. Massey retorted that perhaps he was thin-skinned, but the speech was one he would 1)3 ashamed to make. Mr. Speaker intervened, and asked that there be no more of this argument. So the incident closed, and so also closed the ispecch of Mr. Wilford. Ho said practically no more about the beneficiaries under the will of the late Mr. Turnbull. but he did say some few words to tho effect that he honed tho Government would in future subsidise nil great bequests to tho State.