7

8.~5

(t.) That relief from land-tax be given to land devoted to plantations of timbertrees and areas not exceeding 25 acres of native bush. (v.) That a more reasonable allowance for depreciation of tramways, workers' cottages, and other wasting assets be allowed in the case of sawmilling and mining ventures. Tables. 9. The following tables are appended to this report: — Appendix A is a table of incomes and income-tax for the year 1922-23. Appendix B is a table showing the rates payable for income-tax under the Annual Taxing Act of 1923 in respect of the specified incomes. Appendix C shows the percentage of income-tax paid by the different classes of personal income. Appendix D contains a comparison of the income-tax payable in New Zealand, Australia, and Great Britain. Appendix E is a comparative statement in connection with the incidence of land and income tax. We have the honour to be Your Excellency's most obedient servants, W. A. Sim (Chairman). James Begg. W. D. Hunt. G. Shirtcliffe. T. Shailer Weston. Dated at Wellington, this thirtieth day of May, one thousand nine hundred and twenty-four.