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Wednesday, 6 December 1911

Senator STEWART (Queensland) . - It appears that this clause has been designed to exempt beneficiaries under a will. I am not sure whether it is a good provision or a bad one from the point of view of dealing with the land monopolist. Take an estate which is valued at £40,000, and which has been left by will to eight relatives of the testator. Each of these beneficiaries will be exempted to the extent of £5,000; so that, while the estate during the testator's life was liable to taxation on £35,000, upon his death no tax will be payable, notwithstanding that the estate has not been cut up. I object to allowing an estate to be managed as a whole without payment of any tax. This clause seems to favour the holding by families of large areas against settlement, with a view to appropriating the community-created values. In it the words " by blood, marriage, or adoption " are used. What is the meaning of the term "adoption"? My principal objection to the clause is that it permits an exemption of £5,000 in the rase of each beneficiary under a will, notwithstanding that the estate continues to be administered as a whole.

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