DEATH DUTIES.

Gisborne Times, Volume LIX, Issue 9572, 25 July 1923, Page 5

DEATH DUTIES.

REDUCTION IN CERTAIN CASES OE GIFTS. DILL PASSES SECOND READING. WELLINGTON. July 24. The second reading of the Death. Duties’ Amendment Bill was moved l>y Mr Massey. The Dili was, ho said, highly technical, and he proposed to refer it to the Statutes Revision (.'oniuiittee. The amendments were mainly in removing the duty in certain cases of gifts, where it was felt that the State should, in justice, make remission. Mr Willard said that under clause 2 a Evil man could give his daughter ■260,001) on her marriage without paying - a penny gift duty, and that he feared was * tie purpose of the Bill. He would like to know who suggested this, not the Commissioner of Taxes lie thought, as lie was too careful in guarding the revenue to make such suggestions. There were other proposals in the Bill, of which lie heartily approved. "Mr Holland urged that the time had arrived when the House ought to be considering the raising of death duties, instead of reducing taxation as proposed in clause 2. Tire Premier, in rejsSy, said the arrears of death duties which up to a year ago, were very heavy, had been greatly reduced, as a result ol the power taken to charge 6 per cent, on amounts owing. He assured the House that the Bill was not intended to meet any particular case, hut there were eases where relief could he fairly given, though lie did not know of many who could give away £50,000 to a- daughter or anyone else. He did not agree with Mr Holland that tho death duties should be increased. The State was now collecting a very large sum of money through this channel, and he did not want to put a levy on the thrift and industry which had built up this country. At the same time, in reducing taxation, there were many directions in which reliei could he given before the death duties. The Bill was read a second time and referred to the Statutes Revision Committee, and the House rosto at 11 p m. till 2.30 on the following oay. _ 2 LA