OUR CONCERNS.-No. 7.

Southland Times, Issue 3708, 11 May 1880, Page 3

OUR CONCERNS.-No. 7.

By an Otb Settler. THE PROPERTY ASSESSMENT? ACT, 1879, AND THE PROPERTY TAX ACT, 1879. Before entering on V review of these Acts we nm c t revert to a fact in our first Aehapter, to wit, that the colony under . the Land Tax Act divides its population into four states. "having econouiic annual .■;, Talae~4aiul --.^owuere, 2;8 ; property own ets, 2^ ; professiorial8 r I*6; ;= laborers, 6-0 — ia all 12*6 millions sterling. We showad , there : that .tjie Land Tax Act specially taxed the ; .first— the t>?o Acts at the head of this chapter specially tax the first "ancl second. In other words, 1 ,the 7.2 .uif^orV. : "t. eight place a class : tax, v on the 5*2 iiniiiion weight— that is, the professional and laboring interests have liad , pAwer to -lay r the burdens of the State on the land and property owners. The principle ©A unsound legislation is; thus continued, aitiaipelioration of comfi^iion being that the cla§s; burden is placed on more shoulders;" -md in this we see, where a vicious course has been initiated, bow difficult it ia to retrace- the step. Sir George *6h-ey kicked the ball, and : .Mr Hall has only been able to divert Its course by another kick, aiid it yet rolls . deeper into the mud. And here it is becoming of us to say that we 7 have the highest esteem for the members of the HaU Ministry; we have the greatest confidence in their honor and sagacity ; yet when we publicly, essay to criticise one of their most important measures, our duty forbids us to do otherwise than point out what we consider to be graye 1 errors in it, where these appear, m detail as we proceed. ■ ' In the preamble; we have the definitions as to meaning winch are usual in such Acts. Clause 12 states that all property of which any person is lowner shall be liable to taxation in respect of so much of the value, thereof ; as jshail exceed ■ JsM sterling. ; jClaase jl^ that every company shall be liable to taxation on its capital. Now, here we find what we hold to be a grave error, an outcome - : of ; falsity of^princij^ei_i legalatjon. We have shown that credit is the ethereal - part of capital. Hence, capital value is affected by credit — partly based, in fact, TM"a thuig/ wbic^,ft<>»the|eye-, has no i I'exasteneeMiased ohJaftHing abtfnt which there are so many opinions^ as on land; for ih^i^ey ass .-jsors -Offering by 15 times, by 10 to 150. Still out of this the Act extracts from a company, objective hard gold, though there be no gold obtainable. For example, taking Bradsbav^'s Brokers' Circular, we ; •' some highly enterprising and public-spirited cbm- / pani<» wbds«4BaKlr u P al )# certain, ' but wioSer ether^d cfedit 1 is v ery unsteady, and whose profits are nil. Yet these companies are taxed along with such -as do give ret__n_s. Thus, as in the case of the land tax, a false original principle throws on uniort una te members of .fee. commonwealth;: burdens most unfair, levies objectionable, measures that are ruinous. Departing from our time-tried English manners and customs — ■nottdtake icliere. there is nothing to give — this colony is now 'committed to courses ; subversive of institutions we .iield to, be most sacred, whose basis is fr&dom,^equity, and justice. : Clause 14 applies tbe same principle to banks, -- whose effect will be not to : materially injure tbe^prosperous, but to damage the Hi-fortunate. . ; Clause 16 alters the principle '"' as applied to insurance companies, approaching to "more equitable adjustment^ in so far as premiums are levied ©n at so much per cent. . Here, as lw<T* understand the clause, objective :'.- -proM are ta^edixnot, etl^teal, or supposititious, capital value. Clause 22 makes mortgagors liable to taxation only on land not included in mortgage^ Then . : - elapses 2& i} 24, and. ; 25 follpF- which "" attempt to "regulate the '' respective burdens of mortgagors, mortgagees, separate interests of landowners, tenants, and tsub-teiiants, buyers and sellers of land and property, interest to be paid, r .^c.j T &c. . ; - through .rail /pf ■ which the complicated transactions" are yet made more complicated. And to those who have had experience in such transactions, even, to, a small degree, the result presents a medley of -unforeseen difficulties, which will create a heavy class of burdens, deteriorations andlosses. In the ,end none will be benefited but the lawyers. : Clause 26, .subsection 7, exempts that small privilgg^ditribevithej. Maoris, who own one-half of North Island, from the tax. Clause 31 requires that any person owning any property shall apply for the Lr forms prescribed for: furnishing accurate statements of his property, and any person failing to iurnish such statements shall not be exempted from any penalty he may have ' incurred &c. Clause 32 requires owner to furnish description, situation, and value of real and personal^property— of mortgages, encumbrances/and charges — of all debts, &c. In short, 'lre must act as self-dissector of his. very entrails, . and including the smallest ramifications thereof. We have heard many objections to the Income Tax at Home, but this out-Herod's Herod in requiring every colonist to give estimates of the value of his property, which even the public assessors cannot do without differences to the extent of- 1 to 15. Clause 38 enables the public officer to : make domiciliary visits, and clause 40 enables commissioners to re-assess, .■■• Clause 78 Tprovides where no sufficient '■•■ distress, land may be sold in payment of taxes. Clause 98 contains penal clauses : 1. Wilfally failing or neglecting to furnish any statement of property within the prescribed time. 2. Knowingly and wilfully making or delivering a false j statement of property, or making any ' false answer in relation to his property, forthe purpose of. eyeing assessment i thereof. -3. By any; falsehood, ?»__f ui; ' neglect, ftaudj| act) w. contrivance^^^ whatsoever, .used or practiced, evades or . .attempts to evade assessment of pro? perty, -*<Sfc; - ; E very such person to be chargecl trebfeamotint of the tax ; also penalty of £5^ and not exceeding £100 sterling. - -.. r.-.y-xxy} ',.-[■: x 0 0-0'-The : abovC gi^es jery heavy powers over the persons and properties of New Zealand colonists. - Land owners and property holders are no longer what theyWere. Thes^J^^fe 3^ re s0 worded, and so elastic, in ir^ergretatiqn, that persons aff(>ctea:-iW7great'dan^ from: giving that estimate which the . la\7 itself r6quir.es,, . The Property Tax .^^M&lim^Mlßl^^^^P^. ""SP 08 *^ l ? n and^rmes~ofl__f--imTeTit^ .-'v.---f; Aln' these;and,%he preceding Acts we A. have takeii a departure' from our old' ,-3EugU.h jfcraditions, and ; the cud ere long

! Tfi^^ society that jwilL ; iieydlop, no one can anticipate, for the root of- preceding ex- ' ■"-periences hais'ibeoh sulirert'ed; 0