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Wednesday, 16 December 1914

Senator MILLEN (New South Wales) . - I should like an explanation of the effect of the clause. Section 29 of the original Act provides that leaseholds, with certain exceptions, shall be exempt from taxation. Thus the taxation of leaseholds by that Act is limited to perpetual leases, without re-valuation, and leases with a right of purchase; all other leases being exempt. It is now proposed to specify an additional number of leases which, by the wording of the original section, will thus become also liable to taxation. If the proposed amendment is made, what class of leases will still remainexempt from the tax ?

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