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Wednesday, 31 October 1956

Mr COSTA (Banks) .- I did not intend to speak, but I think that members of the Australian Country party should have given a fuller explanation of this matter. They did not mention that tax is imposed only upon land which is worth more than £10,000. The intention of the Australian Labour party in imposing this tax was to break up big estates. Labour does not believe that one person should hold land to the value of £100,000, which, if divided into proper proportions, with £10,000 lots, would give a very reasonable living to ten families, instead of a luxury living to only one family. That was the reason for the original imposition by the Australian Labour party of this tax. The tax is graduated, starting at a very low figure in the first £1 above £10,000, working up to larger amounts on more valuable holdings, so as to make it impossible for any one person to hold too much land. I thought it was advisable to give an explanation of the act that has been passed in New South Wales. Its provisions are not as bad as members of the Australian Country party represent them to be, because the tax applies only to properties worth more than £10,000.

Question resolved in the affirmative.

Bill read a second time, and reported from committee without amendment or debate; report adopted.

Bill - by leave - read a third time.

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