THE SUPER LAND TAX.

Press, Volume LXV, Issue 19804, 17 December 1929, Page 12

THE SUPER LAND TAX.

DIARY NOTES OF A STOCK AND STATION AGENT. * y . 5 : f" • hj." * ' e' ha-.lfh :> wh-.-h » - tl'» reviit of th* r«-c*n» letis'stion m-.j-e-'-p Piiper T*x on , Tis f y art sui'i'l.iO by a reratstu# tmn.J x v n i. Mr "R." \otci\hi\ a Muuewhat tliflerent *»••*«* wus Mil-nutted to me for atlyur. _H»" man t> trustee tor a Mini of I'lo.tH*' uluch !iad been lent out on Mortgage over a ment unimproved value tl>.->< v h flunng la>t winter lie wa> aih >-ed that the tann ha<l been abandoned by the owner, who bad been Meadllv |iv«.!i:_: -his capital by neglect and had management. lie finds the property subject to a first < harge of ordinary and special land tax ol I'JIS pel annum, and he will probably have to sell at u ln?eause buyers now retinue a reduction in price equivalent t i the capitalisation «»f the pre-ent (<ov eminent assessment for land tax. If lie cannot sell, he "ill be compiled til work it meanwhile at a loss, and yet is liable for land tax and special tax unless exempted Ironi tlie latter under the hardship clause. fie enquired whether it was true that a large property in a deceased estate, situated in a northern province, which the trustees could not carry on, had heen sold at n reduction of i'SO(K) on tlie previous price of the additional land tux. I 'md to tell him that although I could not confirm the amount being £BOOO. I had been informed that a large reduction equivalent to capitalisation of land tax assessment at (> per cent, had been allowed to effect this compulsory sale. ;is otherwise, the value of the whole estate would have been jeopardised through inability to work the islieep run profitably.