CLOSER SETTLEMENT.
DIVIDING BIG HOLDINGS. By Telegraph.—-Press Assn.—Copyright. Sydney, Dec. 2. The Assembly read a second time the Bill, introduced by the Minister of Lands for the sub-division of large holdings, with a view to expediting closer £.he Bill is largely similar to one which failed to pass last session and which caused a flutter here and in London financial circles, owing to its being of allegedly confiscatory character. The essence of the measure is a clause providing that a tax shall be levied on land held beyond the value of £20,000. For the first year the tax is 3d, for the second year 6d_. the third 9d, and the fourth and every succeeding year Is in the £, provided that for the first year not less than one-fouth, the second year not less than one-half, the third and-fol-lowing years not less than three-fourths of the cultivable land in-t'he surplus area is cultivated. The western land division and some other sections are exempted. The Bill, particularly the penalty taxes, is strongly opposed.
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Taranaki Daily News, 3 December 1921, Page 5
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171CLOSER SETTLEMENT. Taranaki Daily News, 3 December 1921, Page 5
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