Richard Smeaton WHITE

WHITE, The Hon. Richard Smeaton, D.C.L.

Parliamentary Career

Most Recent Speeches (Page 85 of 85)


August 3, 1917

Sir THOMAS WHITE:

I agree with my right hon. friend. They are fortunate to be able to do it, and that is what I told them when they complained. The point I make is that this was a three-year measure, retroactive for one year, and that is the feature which is lost sight of. They paid in 1917, and they will pay in 1918, the heaviest business tax in the world. That holds the situation until 1918, so far as concerns those who are making abnormal profits out of the war. This income tax provides that if by chance there should be any firms-and I

believe there will be very few indeed- whose taxation under the business profits war tax payable next year, in respect of their earnings this year, will be equal to or less than the taxation which they would pay under this measure, they ihay deduct it. That is all it means. The idea is simply they are not to pay the heavy business profits war tax and this income tax as well. I do not believe any one will say there is anything unfair about that.

Topic:   WAR TAX UPON INCOMES.
Subtopic:   CONSIDERATION OF THE BILL IN COMMITTEE.
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August 3, 1917

Sir THOMAS WHITE:

However, the matter is not of great importance, and if this is deemed reasonable I would move that the words " two thousand dollars " be made " fifteen hundred dollars." With regard to children, there is undoubtedly also the fact as to dependents, but I think that if 33,000 could be regarded as a fair exemption in the case of the average man, if we put aside the question of dependents-because that would really necessitate an inquiry as I stated-it might be reasonable to provide that the exemption should be increased somewhat in case of those who have a family, say, of six children. I do not know whether that would meet the views of the committee or not, but we might discuss it later. If the committee think it would reasonably meet the situation to give an exemption of

34,000 in the case of those who have six children or more, I think I would be prepared to consider that phase of it, and have an amendment drafted accordingly. I do not think we can deal so well with the case of dependents, because the principle is undoubtedly there. They have to be taken care of just like children. It might be fair to provide that if a man has six children his exemption shopld be 34,000 instead of $3,000.

Topic:   WAR TAX UPON INCOMES.
Subtopic:   CONSIDERATION OF THE BILL IN COMMITTEE.
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March 24, 1915

Mr. WTHITE:

Yes, the Bill imposes a stamp tax upon a transaction of that kind.

Topic:   QUESTIONS.
Subtopic:   SPECIAL WAR REVENUE BILL.
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March 19, 1915

Mr. WPIITE:

This resolution is almost self-explanatory. We propose to amend section 88 of the Bank Act by allowing a bank to lend money to the owner, tenant or occupier of land for the purchase of seed grain, upon the security of the crop to be grown from such seed grain. At present it is not open to the banks to take such security, and it was thought advisable, having regard to the desirability during this year of greatly increasing production and prevailing financial conditions, that the amendment should be made and this additional power given to the banks. Representations have been made to me for some time past with regard to this matter. I took it up with all the chartered banks in Canada, and while it appears perfectly clear from the replies which I have received from the banks that the general credit and standing of the borrower will still be a controlling factor in their determination of whether or not loans will be made, it would appear also that it may be an advantage to the borrowing community that this legislation should be enacted, as the banks would, I am convinced, be more ready to lend than if they were not permitted to take this security.

Topic:   BANK ACT AMENDMENT.
Subtopic:   LOANS FOR SEED GRAIN.
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May 22, 1913

Mr. AVHITE:

The word ' limes ' is eliminated from this item. That is the reason the item is inserted here.

101a. Limes: British preferential, free;

intermediate, 10 per cent; general, ten per cent.

Topic:   WAYS AND MEANS-THE BUDGET.
Subtopic:   REVISED
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