Il8 TRANSACTIONS OF ROYAL SCOTTISH ARBORICULTURAL SOCIETY. 



owned by him and the description of these woodlands in 

 age-classes of say ten years up to fifty years and twenty 

 years above fifty years. 



Note. — A distinction would probably have to be 

 made between conifers and hardwoods. 



3. Income Tax (Schedules A and B) already paid in respect 



of the woodlands included in the above schedule to be 

 determined according to a scale to be framed jointly by 

 the Inland Revenue and the Forest Authority as applic- 

 able to all cases and allowed as a deduction prior to 

 assessment to Schedule D. 



4. The amount of the above deduction to be arrived at on a 



percentage basis according to the ages and extents of the 

 woodlands detailed in the schedule, and decrease at the 

 rate of 2 per cent, per annum as from the date of the 

 first assessment. 



Note. — It is assumed that in fifty years the whole 

 of the timber which had previously paid Income Tax 

 under Schedules A and B would have been realised. 



5. Income Tax (Sch. D) to be levied on the basis of five 



years' average or preferably seven years' average. 



It is unnecessary to deal specially with Super Tax, as the 

 same follows the Income Tax assessment. 



The following is a simple illustration of the working out of 

 the above scheme : — 



Note. — The percentages in Column 4 are merely estimated , 

 but have been inserted in order to illustrate the principle. 



