Page 2 Advertisements Column 2

Nelson Evening Mail, Volume XIII, Issue 189, 7 August 1878, Page 2

THE FINANCIALJTATEMENT. Land Tax.— Beer Tax.— Joint Stock Companies Income Tax. — Alteration in Customs Duties. The Hon. Mr Ballance, the Colonial Treasurer, delivered his Financial Statement last night. Owing to its great length we are compelled to defer publishing ifc fully more until to-morrow. In the meantime we give a very short abstract of the most important of its contents. EXPENDITURE. The total ordinary expenditure for the year just closed, including Provincial liabilities, was £3,030,241, being £175,946 less than the estimate. REVENUE. The revenue was as follows :— Ordinary, £2,328,752; tentorial, £1,516, 562; total, £3,915,314 or £761,630 more than was estimated. LAND REVENUE. Frora the colonialisation of the land revenue, the Exchequer had benefitted to the extent of £91,740. j CUSTOMS DUTIES. These realised £1,271,961. RAILWAYS. The income from these was £546 ,458, or £53,991 less than was anticipated. This was owing to the non-completion of lines that it was thought would be brought into working order during the year. The profit was £145,151, against £84,182 for the previous year. LOANS. A balance of £2,055,940 is available from loans for appropriation. The gross indebtedness of the colony is £22,491,111. The sinking fund already acerued amounts to £1,583,993. The annual charge for interest and sinking fund is £1,195,318. ESTIMATED EXPENDITURE. This is set down as follows :— Permanent appropriations, £1,809,767 ; annual charges, £2,183,741 ; fees payable to local bodies, £200,000. Total £4,193,508. ESTIMATED REVENUE. Exclusive of benefit to be derived from alterations in the tariff, or lastfyear's surplus, this is put down at £4,382,505, being £2,602,145 from ordinary, and £1,220,677 from territorial revenue, and £430,215 from other sources. LAND TAX. It is proposed to impose a tax of one halfpenny in the pound on land, the minimum value of which, in an unimproved state, will be fixed at £1 per acre. Every landholder may claim exemption to the extent of £500 on the total value of all that he holds. JOINT STOCK COMPANIES TAX An income tax on Joint Stock Companies transacting business in the colony is proposed at 3d in the pound on their net profits. BEER TAX. A tax of three half-pence per gallon is levied on beer, porter, and all malt liquors. This tax came into force this morning. ALTERATIONS IN TARIFF The duty on tea to be reduced from fid to 4d per lb, and on sugar from a penny to a half-penny.