TAXATION OF WOODLANDS IN SCOTLAND. I 19 



In the above illustration the abatements in the Schedule D 

 assessment would be as follows : — 

 1st year . 64-5 per cent. 



2nd year . 63-2 per cent., i.e. 64-5 per cent. - 7 V tn ' 

 and so on thereafter, the amount of the abatement being reduced 

 by j^th each year until exhausted. 



The above claim would involve a certain amount of initial 

 trouble both to the Inland Revenue and the owner of the wood- 

 lands, but the particulars required are only such as would be 

 available on any well-managed estate with proper records, and 

 once ascertained no further trouble is involved except the slight 

 annual readjustment in the percentage deduction. 



It may be considered necessary to provide for a revision of 

 the schedules in the event of sales taking place, but it would 

 be preferable that the percentage deduction when determined 

 should be adhered to for the period of exhaustion in the case of 

 estates where the woodlands are situated in different counties, 

 but it would be desirable that the scheme should be applied to 

 the total area of the woodlands irrespective of the situation 

 thereof. 



In the event of an owner not furnishing the necessary informa- 

 tion he would be assessed to Income Tax (Sch. B) in ordinary 

 course, and would have no more grievance than if he had 

 neglected to make a claim for repayment of Income Tax in 

 respect of " Rates " or " Maintenance." 



17. The Forests of New Zealand. 



By D. E. Hutchins. 



The forests of New Zealand are of great value. They are 

 admittedly the best softwood forests in the Southern Hemisphere, 

 and nine-tenths of the world timber used is softwood. The 

 Government Offices building at Wellington, reputed the largest 

 wooden building in the world, is constructed of New Zealand 

 timber. 



The New Zealand forests have never been surveyed, and only 

 vague estimates have been made of their area and stand of 

 timber. The working of the sawmills, however, shows that the 

 outturn of sawn timber over the area milled has averaged about 

 1500 superficial feet per acre (a superficial foot = 12" x 12" x 1"). 



