PUBLIC FINANCE AND TAXATION
55
tobacco of Commonwealth origin and tobacco of Commonwealth manufacture.
Duty on light oils is 80 cents per gallon. For heavy oils the rates are $104 per ton for diesel oil for road vehicles, $26 per ton for other diesel oil, $24 per ton for furnace oil, and 10 cents per gallon for other kinds of heavy oils.
Table waters attract duty at 48 cents per Imperial gallon, and the duty payable on methyl alcohol is $7 per gallon plus 28 cents per gallon for every 1% by which the alcoholic strength by volume exceeds 25%.
The actual revenue from these duties for the last three financial years and the estimated yield for 1959-60 are as follows:
1956-7
1957-8
1958-9
1959-60
Actual
Actual
Actual
Estimate
Revenue
Revenue
Revenue
$
Hydrocarbon Oil ..
Liquor
Tobacco
$
24,477,764 26,145,514 28,621,221 30,000,000 24,659,782 26,566,105 27,972,324 28,600,000 40,774,037 45,163,230 46,670,892 49,000,000
$
$
Toilet Preparations and
Proprietary Medicines
4,779,955
5,188,186
5,335,062
Table Waters
2,607,760
2,653,268
2,768,696
2,800,000
Methyl Alcohol
6,427
10.111
Total ..
97,299,298
105,722,731 111,378,306
110,400,000
The small yield from the duty on methyl alcohol is explained by the fact that the only purpose for which it is levied is for controlling the movement and use of this toxic substance. Methyl alcohol used in the overhaul and testing of aero-engines is exempt from duty.
No dues are levied on exports. Drawback is paid, in certain circumstances, on duty-paid commodities used in process of manu- facture or preparation locally, if exported from the Colony.
i
RATES
Rates have been levied in the Colony since 1845 when an Ordinance was passed to raise an assessed rate on lands, houses and premises for the upholding of the requisite Police Force'. Today rates are one of the largest revenue-producing items, the estimate for 1959-60 being $79,010,000.
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