CO129-597-3 Estimates 1950 22-2-1949 - 3-11-1950 — Page 189

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higher than the original estimate for 1948-49, and

816,300 higher than the revised estimate. all the buildings looted during the war, which are worth

Practically repairing, have now been rehabilitated, and a great deal of new building is now in progress.

Internal Revenue.

The estimate of 61,525,000 is $3,375,000 higher than the original estimate for 1948-49, and $6,475,000 lower than the revised estimato. and Profits Tax are estimated to remain at $40,000,000,

Receipts from Earnings but it was not considered that it would be safe to count on receipts from Entertainment Tax and Betting and Swoops Tax romaining at quite such a high level as during the present year. Receipts from Stamp Dutics were unusually high in 1948-49, the tax on the increment on the value of property alone having produced $6,639,000 up to the end of February. collected during the first half of the year, receipts

This was however mainly since the end of September having dropped considerably. With still fewer properties likely to change hands during the coming year, the yield from this source will continuo to diminish and revenue from Stamp Duties, even after making allowance for the proposed increased rates of duty on receipts and cheques, will be much below the 1948-49 figure.

Licences, Fines and Forfeitures.

438,750 higher

The estimate of $6,697,200 is than the original estimate for 1948-49, and 5,302,800 lower than the revised estimato. generally was greater than was anticipated owing to the

The yield from licencos high level of trade, and the increase in the number of motor vehicles resulted in greater revenue from registration fees. Receipts from fines and forfeitures were also considerable, but revenue from this source is of course very variable. The fee for wireless receiving licences was increased during the year from $12 to $20. Fees of Court.

5,201,000 higher

The estimate of $13,762,700 is than the original estimate for 1948-49, and 1,662,700 higher than the revised estimate. building activities during the year just ending, receipts

O ing to phenomenal from the Sand Monopoly were much higher than was anticipated, and they are expected to exceed the original estimate by some $2,000,000. Receipts during the year

1949-50 should be above the average, though not on the scale of the previous year.

Conservancy Fees have not been raised since the liberation of the Colony, and recent examination disclosed that, at the higher wage levels now prevailing, a heavy loss was being incurred. These foos have now buen raised with a view to making the service self- supporting, and this will be reflected in increased collections during the coming year. that the additional yield from this source will be

It is estimated $1,200,000.

Higher roccipts from Landing Fees are also