CUSTOMS RETURNS

Evening Star, Issue 23695, 1 October 1940, Page 7

CUSTOMS RETURNS

NEARLY £12,000 BETTER IMPORTS DECLINE SHARPLY Receipts collected from all sources by the Customs Department for the Port of Otago totalled £185,593, nearly £12,000 better than the aggregate of £173,696 for September last year. These figures were obtained in spite of a particularly heavy decline in the amount received for Customs duty, a decrease of over £63,500 compared with the same period last year. Total receipts for the half-year amounted to £970,304, an increase of nearly £140,000 over the £830,797 for the same period last year. The actual Customs duly for the month totalled £39,497, indicating: the heavy reduction in imports cleared in the port compared with the same month last year, when the receipts were £103,010. Sales tax receipts, however, improved, £31,453 being collected during the month just concluded, compared with £27,020 last year. Beer duty also increased sharply, the month’s total of £47,571 being almost double that for September, 1939, which was £24,283. The restrictions. on the use of petrol affected the amount collected by way of petrol tax, last month’s total of £9,452 being well below the receipts from this source, totalling £16,296, obtained in September of last year. The following are the principal items (shillings and pence omitted): —

AUCKLAND The Customs revenue collected in Auckland in September totalled £272,059, 0i£164,764 less than in the same month of the last year. The total for the past nine months was £2,970,749, a decline of £418,956 compared with the same period of 1939. Details of the month’s collections are as follows, the figures for September, 1939, being given, in parentheses:— Customs, £230,965 (£365,736). 1 Motor spirit tax, at 6d a gallon, £38,440 (£268,711). Tyre duty, £2,654 (£2,376). Total, £272,059 (£436,823). Excise on beer, £25,892 (£16,286). Sales tax, £94,990 (£84,267). The collections payable to the war expenses account, including 5 per cent, sales tax and proportions of additional duties on spirits, beer, tobacco, and gold exports, amounted in September to £109.676, compared with £95,506 in August. The (otal amount collected since the beginning of the year is £335,026. WELLINGTON The net Customs revenue collected at the Port of Wellington in September was the lowest figure since last October, and compared with September, 1939, shows a decrease of £196,454. The figure for September last year, however, was easily the highest ever collected in Wellington. Decreases are shown in the sales tax and the motor spirit collections, but the beer duty and tyre tax collections last month were above those for September. 1939. The revenue from ' the sales tax since August has been taken out under two heads, that from the original tax and from the recent increase, the revenue from which benefits the war chest. Tn consequence of this the war tax in September reached the record level of £124,524, of which £93.634 was derived from sales lax. The figures for the past month, with those for September, 1939. in parentheses, arc:— Net Customs revenue, £225.828 (£412,292). War tax, £124,524. Sales tax, £97.462 (£114.037). Beer duly, £7.973 (£6,637). Motor spirit duty. £23.386 (£44,989). Tyre tax. £2,374 (£2,218). CHRISTCHURCH I Tlie yield from the special war duties on tobacco, cigarettes, spirits and beer, and the extra sales tax collected in Christchurch in the last six months was £117,891. This is shown in the monthly and half-yearly statistics of the Collector of Customs, at Christchurch. Notwithstanding this big addition to the revenue, the total amount collected in the six monhs was £2,119 less than for the corresponding period of 1939. The receipts from Customs as a result largely of the restriction of imports declined by £101,399. The figures for September show a remarkable drop in Customs receipts, which totalled £58,932. compared with £149,204, a decline of £90,272. The receipts fronj petrol tax are down by more than £12,000 for the month and by £41,604 for the six months. The figures for the past month, with those for September, 1939, in parentheses, are as follows: Customs, £58,932 (£149,204). Beer, £15,558 (£12,648). Petrol, £16.951 (£29,093). Rales tax. £38,801 (£41,595). War expenses, £43,776 (£BS). Total, £175,586 (£234,967). OKARETO COMPANY SHAREHOLDERS' ANNUAL MEETING The annua! meeting of shareholders of the Okarito five Mile Beach Gold Dredging Company Ltd. was held last night, Mr J. E. Wheeler presiding. Moving the adoption of the annual report, the Chairman said that during the past two mouths there had been a certain amount of progress made by the dredge towards the south end of the claim. He explained the circumstances which made it desirable to take the dredge back through old paddocks. The northern end had been proved unpayable.' Unfortunately, up to'the present time progress had not been rapid, ami it, would he almost the end of the year before the dredge reached the point aimed at. The slowness of progress was forcing the dircc-

tors once again to consider the possibilities of floating the dredge along the lagoon, and they had received a report from the dredgemaster which indicated that it might be possible to thus avoid several weeks of profitless dredging. In view of the serious difficulties with which the company had been faced since tiie beginning of 1940, it was surprising that it had managed to show any profit at all. Although there had been a substantial drop in the quantity of gold won, the price had risen to an average of over £8 10s an ounce for tins-year, and this factor had contributed materially to the profit shown. On July 22, 1939, a 10 per cent, dividend was paid, largely out of the balance brought forward from last year. The income tax in respect to this dividend was payable next February, and was estimated at approximately £4OO. After providing for this tax there was still a balance of £276 to be carried forward in the profit and loss appropriation account. Mr J. M. Stewart seconded the adoption of the report, which was carried. The retiring director (Mr J. E. Wheeler) was re-elected unopposed. Mr C. E. Richards was appointed auditor.

—September Figures.— 1940. 1939. £ £ Customs duly 39,497 103,010 Sales tax . 31,453 27,020 Beer duty .. 47,571 24,283 Petrol tax 9,452 16,926 Tyre tax 752 744 Gold export duty 1,103 812 —Half-yearly Figures.— 1940. 1939. £ £ 'Customs duty 343,049 396,587 Sales tax . 185,772 158,267 . 223.052 161,908 Petrol tax . 69,662 96,419 Tyre tax .. 3,402 3,458 Gold export duty ... .. 6,995 7,468