Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Wednesday, 6 December 1911

Senator STEWART (Queensland) . - I think that the Vice-President of the Executive Council ought to have given us more information with regard to the effect which the measure will have. I have been trying to spell it out, but the clauses are of a very technical character, and I have not had the advantage of legal assistance. No doubt, the Bill will affect the revenue from the land tax, but that is not the principal objection which I have to it, if I have any. What I want to know is whether under the new definition of " joint owners " it will be possible for a large estate to be held by a joint- stock company. That is a matter which I think the Minister should have made clear to the Senate. If my reading of the Bill is correct, and I hope that it is not, it will be possible for a joint-stock company to hold hundreds of thousands of acres, and to monopolize them just as effectively as a single individual could do, and yet escape land-value taxation if the number of its shareholders be sufficiently large. If that is the case, it is a pernicious proposal, and is out of harmony with one of the purposes of the principal Act, which was to break down land monopoly. Perhaps Senator McGregor, or some other member of the Government, will give the Senate some information on that point.

Suggest corrections