CO129-516-3 Military contribution of Colony assessmenet of contribution 13-3-1929 - 28-3-1930 — Page 34

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enlarged and it may be equally) argued

"

assessable se

is to be interpreted as

the whole

that the

e Colonial revenue, reduced

only by the exemptions allowed at the

then

time of the Committee's report, no

the

longer bears the same relation to no longer subsists betwin assessable revenue of general means as it did at the time

subis

when the present percentage was fixed.

I am, therefore, considering whether it

would not be equitable to exempt from

assessment for contribution certain

items of revenue which represent the

gross receipts of quasi-industrial

undertakings which were not then in

receipts from

existence, e.g/vireless undertakings,

and, in accordance with the principles

accepted by the Haliburton Committee, to

assess only the net revenue.from such

undertakings.

Similarly, changed

conditions may be held to justify a

change in the rate of annual percentage

allowance upon capital expenditure from

current revenues on railways, telephones

or other productive undertakings, as

provided