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The Motor Spirits Ordinance passed the Legislative Council on 26th June, 1930, introducing duty at the rate of fifteen cents per gallon on all light oils lying in. stock in the Colony on 1st July, 1930, and imported into the Colony on or after that date.
of the Post
By regulation made by the Governor in Council under Section Office Ordinance 1926 the rates of postage were increased from 1st day of August, 1930.
1931.
The Estimates of Revenue for the year 1981 reach a total of $27,488,759 an an increase of Increase of $4,775,839 over the approved Estimates for 1930, $3.422.759 over the Revised Estimate for the same year and an increase of $3,934,284 over the Actual Revenue of 1929.
In anticipation of the increase of 4% on the Rates, Revenue under the head Assessed Taxes is expected to yield $5,665,000 or approximately $1,415,000 more than the Approved Estimate for the current year.
It is estimated that a sum of $300,000 will be paid into Revenue in respect of the proposed new Amusement Taxes.
A slight adjustment in school fees should yield an additional $19,000. Under the former schedule it was estimated that Revenue derived from Public School Fees in 1931 would reach $195,000 but with the adjustment now proposed the revised estimate for 1931 is $214,000.
An additional $320,740 is expected on account of the increase of Light Dues, while increases in the fees for use of Government Buoys, Sunday Cargo Working Permits and other Revenue collected through the Harbour Office is expected to yield un additional $144,832. Revenue from Land Sales for the years 1928, 1929 and 1930 has exceeded 1 million dollars each year. It is proposed, therefore, to es- timate the Revenue under this head for the year 1931 at 14 million.
It is estimated that amendments in the case of certain fees in the Stamp Ordinance raising receipt and cheque duty to 10 cents and bills of lading to 40 cents together with the revision of the Estate Duties Ordinance, whereby the maximum percentage is raised from 8% to 12% should increase the revenue for Stamp Duties by approximately $173,000.
For the year 1981 Revenue derivable under head "Post Office" is estimated # *1,360,000 which is an increase of $390,000 over the Approved Estimate for The increase is 1930 and $120,000 over the Revised Estimate for the same year. due to the revision in postage rates
Appendix "A" shows the totals for the Estimates of Revenue and Actual Revenue collected for the ten years 1921-1930.
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APPENDIX A."
TABLE OF REVENUE.
Year.
Estimates.
Actual.
1921......
$15,336,350 $17,728,132
1922...... $17,276,200 $22,291,065
1923...... $18,567,270
$21,783,763
1924...... | $21,369,934
$24,209,646
1925...... $21,812,700
$23,244,871
1926......
$21,367,743 $21,131,589
Renmarks.
Increases-Liquor Duties $250,637 : To- bucco Duties $392,031 and Land Sales $1,344,097.
Increases: Opium Monopoly $2,051,305; Stamps $465,675; Tobacco Thuties $360.177: Land Sales $1,087,804.
Increases Opium Monopoly $2,212,057; Stamps $774,807; Land Sales $2,888,797.
Increases: -pium Monopoly $1,647.043: Large Estate Duties $504,677; Sale of Shanghai Post Office $87,442: Land Sales 8409,236
Increases Large Deceased Estates etc. $2,331,598. Profit on sale of Invest- ments etc. $516,120.
Decreases: --Many large deficits due to
Strike and Boycott.
Increases:
Accumulated profits ou ex- change and profits on the sale of In- vestments etc. $1,980,301.
1927....
$21,007,397 $21,344,537
1928......
$20,103.390 $24,968,399
Increases-Improved trading conditions; Opium $344,871: Local War Loan Sinking Fund surplus etc. $308,712.
Increases-$1,963,359 recovered from Public Works Loan (1927); Licences and Internal Revenue $517.790: Land Sales $1,485,236.
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