AUSTRALIAN POLITICS.

Taranaki Daily News, Volume LIII, Issue 140, 22 September 1910, Page 5

AUSTRALIAN POLITICS.

LAND TAX DEBATE. AMENDMENTS TO THE BILL. By Cable—Press Association—'Copyright. Melbourne, September 21. In the House of Representatives the land tax debate was continued. Dr. Salmon said the measure dealt with men, not land. Mr. Fenton said it was time the wealthy classes, ceased their protestations against taking a'fair share in taxation. Mr. Deakin moved an amendment that the tax was unjust and an abuse of the Federal powers. This was negatived by 30 to 18. Mr. Johnston's amendment that th« tax should affect all landowners and be accompanied by a reduction in the taxation on the necessaries of life was also defeated. The second reading was then carried on the voices. Mr. Fisher has circulated the amendments proposed to be inserted. These provide for a company in its joint assessment not to be taxed as an absentee, but absentee shareholders will be separately assessed. Among the exemptions are included friendly societies and trade unions. A new clause states that the lessor shall pay the tax if the land is leased after the commencement of the Act, but if the lessee is the bigger landholder he will pay the difference. A man cannot escape tne tax by taking up a large quantity of leasehold estate from a lessor before the coming into force of the Act. Each, will pay on the value of his interest in the unimproved value. The lessee wU pay on the valuation of the lease, ami the lessor on the whole unimproved value less the value of the lease. Crown lessees will not pay unless they arc holders of perpetual leases without revaluation or of leases with the right of purchase. A general clause against contracts altering the incidence of fhe tax wiH be introduced. The tax 1 will not apply to a mortgagee whose possession began before July 1, nor to any mortgagee within three years after going into possession. The mortgagee «rill receive three years to clear the property off, but such mortgagee will be liable as occupier for payment of the mortgagor's default to pay on that particular portion of land at the rate the. land would bear. As soon as the mortgagee forecloses the estate will be aggregated. As the Bill now stands, a mortgagee in possession will pay as if he were the owner. Received September 22, 12.30 a.m. Melbourne, Last Night. In the House of Representatives, Mr. Fisher moved the second reading of the Land Tax Bill, fixing the rates of taxation. It was carried by 31 to 22. FEDERAL LOAN. • STATE NOTE FUND. Received September 21, 11.30 p.m. Melbourne, September 21. In the House of Representatives Mr. Fisher (Premier) submitted a resolution authorising the borrowing of £1y500,000 froin the Trust Advances Account. He explained that the money which would be taken temporarily out of the proceeds of the Federal notes issue, was required to repay the States the balance of their statutory three-fourths of the Customs revenue. The adoption of the resolution would avoid the necessity of floating a loan.

Opposition members objected to the Government dabbling with the notes fund, which was setting a bad precedent. Mr. Cook charged the Government with fencing on the question of loans, by raising) all sorts of devices and calling them other names than loans. The resolution was adopted, but Mr. Cook blocked the Bill covering the resolution going through in one sitting! QUEENSLAND TIMBERS. Received September 22, 12.30 a.m. Melbourne, Last Night. A deputation of Queensland members asked Mr. Tudor to include certain Queensland timbers in the revised schedule of duties, claiming that articles manufactured therefrom were ■ superior to those made from imported timbers. The deputation also asked the Minister to enquire into the effect of the low duties on New Zealand white pine and kauri had on Australian timbers. Mr. Tudor promised consideration of the matter.