AUSTRALIAN ESTATES

Pahiatua Herald, Volume XXVI, Issue 2878, 2 December 1921, Page 5

AUSTRALIAN ESTATES

i, EFFORT TO FORCE SUB-DIA ISo JON. FNCOU RAG F CLOSER SETTLEMENT. [ Electric Telegraph- (Vass Association t Copyright. , (Australian-N.Z. Cable Association.) (Received this day, at 10.40 a.m.) " Sydney, This Day. r Tlie Assembly read for the second » time a Bii' introduced by the Min--1 ister of Lands for sub-dividing large r holdings, with a view to expediting r closer settlement. The .Bill iis largely similar it* the one which faih'd to pass last session and which caused a flutter Here and ir* London financial circles, owing to its being of an allegedly confiscatory character. The essen.ee of measure is a clause providing that a tax shall ho levied on land held beyond the value of £20,000, for the first year the tax shall he 3d, tor the soe.r».l year 6d, the third 9d, and the fourth and every succeeding year Is in. the pound provided for the first year not less than one-fourth, in the second year, not less than oue-lialf and in the third and following years not less than, throe-fourths of cultivable land in, the surplus area he cultivated. The Western Land division and some other sections arc to I>© exempted. Th© Bill, particularly, the penalty' taxes, is strongly opposed.