FREEDOM FROM TAXES

Taranaki Daily News, 11 March 1933, Page 7

FREEDOM FROM TAXES

PROPOSAL FOR CANBERRA. " “A CITY' OF REFUGE.” At a gathering of business men in Sydney recently Mr. A. C. Godhard put forward.a plan to make Canberra a taxfree territory. Mr. Godhard said that in the British Empire tens of thousands of Army and Navy officers, civil servants and others, who felt the burden of taxation. very severely, would be glad if they could find a city of refuge which would be fax free. He suggested that Canberra should be that city arid that every non-resident of Australia who would invest in 4 per cent Commonwealth bonds in- amounts of not less than £5900 and not more than £lOO,OOO, such bonds to'be tax free and exempt. from, probajie duties, should be allowed to settle in Canberra. The proceeds from these- bonds- would /’be used for the liquidation of’the- Australian indebtedness abroad. Mr. W. A. Holman, M.P.j said that the plan was . worth, very .careful, examination. Any place that Was tax free would be a mecca to many. " He instanced the popularity of,the Channel Islands because of the low taxation there. ' 'Mr.; David - Benjamin/ former honorary treasurer of the'Australian Federal Capital League, said that if the scheme 'proved effective and the'£2B,ooo,ooo now'spent overseas-were expended in Australia it would be a great thing for the nation. Mr. William Brooks said that a,plan of this nature would lighten taxation for the local’ people and they would Ipse nothing by it, as if .would-'introduce new money to the country. - - On the motion of Mr. J; R; Lee, M.L.A., those present-formed themselves ■ into a committee, with power to add to their number, to examine. .and develop the plan.