CHARTER CAPITAL

Wanganui Chronicle, Volume 76, Issue 302, 22 December 1933, Page 10

CHARTER CAPITAL

SOME INDUCEMENTS TAXATION EXEMPTION The contrast between a crowded East and an empty North Australia is causing the Commonwealth Government to offer developing capital or charter. It is laid down that two inherent features in the policy of Australia must bo safe-guarded in any charter arranged —the White Australia policy and the administrative policy relating to the aborigines of the area. The Ministry offers the following special consideration to procure agreement on the charter arrangement: (1) The Ministry will grant to a chartered company for a term of years under favourable conditions a lease relating to Crown lands which are not at present leased; (2) it is prepared to afford any chartered company favourable conditions to enable it to construct or obtain a lease of any railways, tramways, wharves, or other works needed for the development of the area embraced in the charter; (3) it is prepared to enact a special tariff for North Australia, including provisions permitting the importation of goods direct or through the States, either free of duty or at low rates of duty; (4) it is also prepared to ask Parliament to give any such chartered company exemption from land and income taxation for a term of years; (5) it. is prepared to ask Parliament to pass any amending legislation to safeguard the chartered company’s rights to provide favourable and easy terms in respect of land acquired by the company or any other matter found to bo necessary; (6) it is willing to consider favourably any proposals leading to the development of the areas’ mineral resources; (7) any other matter which the companies might consider to be necessary to negotiate about any area, but it suggests that the two areas which appear to be immediately potential are the Victoria River area, which abuts on the eastern boundary of Western Australia, and the. Barkly Tableland, south of the Gulf of Carpentaria, near the Queensland border. The Government will not negotiate with any intermediary or promoter of companies, but only with authorised representafives of vompanios.