GRADUATED LAND TAX.

Gisborne Times, Volume XXV, Issue 2123, 4 July 1907, Page 2

GRADUATED LAND TAX.

DISCUSSION BY FARMERS. ' INCREASE OBJECTED TO, Press Association. WELLINGTON, last night. At the Farmers’ Union Conference Mr. Lgadley (Canterbury) moved: “That this conference protests agaiust any further increase of the graduated land tax.”

The move!* said that he did not wish it to appear that they objected to the graduated land tax as a tax. All they objected to was its increase. A man would derive a revenue ' of £320 from an investment of £BOOO in N.Z. consols, and the amount he would have to pay a tax on would be only- £2O. A man who invested £BOOO in land, whether he made any profit or not would have to pay £35 oi £4O to tile State. That was a great inequality, and it was fair to ►sk for the removal of it. He asked to have the remit amended accordingly. There was an objection to this,., so the motion was moved as originally submitted, and Mr. Birch (Marton) seconded it.

Mr. McQueen (Southland) said it had been proved to the satisfaction ot the conference that disintegration was already going on satisfactorily, so there was no necessity of an increase of the tax for that purpose. Mr. Cooper considered it unfair to all landholders, because there might bo a few estates which should bo cut up

Mr. Jones (North Canterbury) niovou: ‘‘That there be added to the motions the words, ‘unless a similar increase is made in the income tax.’ ”

The President: If the graduated land tax is forced upon the country X should not be averse to see under certain conditions tho whole of wealth taxed. I could not personally vote tor the motion.

Mr. Jones withdrew his amendment, and the motion was passed in this form: “That this conference protests against any further increas o of tho graduated land tax for tne purpose hinted at by Mr. McNab in several of his recent addresses.” Oil tho motion of Mr. Leadley it was resolved: “That tho systenr of tree line mortgages as land under the graduated land tax is a cruel injustice to landowners, as thereby the State collects tho tax twice over on the same amount—first from the mortgagee on his loan and then from the mortgagor on the capital. The conference also decided to protest against improvements being undervalued in qrcjer to unduly force up the unimproved or taxable Values.