456 TRANSACTIONS OF SECTION F. 



graduation being chargeable on the total land value owned. The rate reaches its 

 maximum at 200,000?., all estates of that value and over paying at the rate of 

 21. per cent, on the total land value. 



For and after the year ending March 31, 1910, the new progressive graduated 

 scale over 40,0007. has been increased by 25 per cent, in the case of all land other 

 than ' business premises.' 



The graduated land tax is increased by 50 per cent, in the case of absentees, 

 and it is made clear that the absentee tax does not apply to companies. 



The graduated rates of the Australian Federal land tax, which became law in 

 November 1910, may be found in the schedules of the Act and in an explanatory 

 memorandum issued by the Commonwealth Government. The tax is levied on 

 values over 5,000?. when owned by residents and on all land held by absentees. 

 The latter class also pay under special scale. The following are the rates : — 



Rate of Tax when Owner is not an Absentee. 



For so much of the taxable value as does not exceed 75,001?., the rate of tax per 

 pound sterling shall be one penny where the taxable value is one pound sterling, 

 and shall increase uniformly with each increase of one pound sterling in the 

 taxable value, in such manner that — 



the increment of tax between a taxable value of 15,000?. and a taxable value 



of 15,001?. shall be 2d. ; 

 the increment of tax between a taxable value of 30,000?. and a taxable value 



of 30,001?. shall be 3d. ; 

 the increment of tax between a taxable value of 45,000?. and a taxable value 



of 45,001?. shall be id. ; 

 the increment of tax between a taxable value of 60,000?. and a taxable value 



of 60,001?. shall be 5d. ; and 

 the increment of tax between a taxable value of 75,000?. and a taxable value 



of 75,001?. shall be 6c?. 



For every pound sterling of taxable value in excess of 75,000?. the rate of tax 

 shall be 6c?. 



The rate of tax for so much of the taxable value as does not exceed 75,000?. 

 may be calculated from the following formula : — • 



R = rate of tax in pence per pound sterling. 

 V=taxable value in pounds sterling. 



R= f 1 + —^ ] pence. 

 I 30,000 J * 



Rate of Tax when Owner is an Absentee. 



For so much of the taxable value as does not exceed 5,000?. the rate of tax 

 per pound sterling shall be one penny. 



For so much of the taxable value as exceeds 5,000?., but does not exceed 

 80,001?., the rate of tax per pound sterling shall be twopence where the excess is 

 one pound sterling, and shall increase uniformly with each increase of one pound 

 sterling in the taxable value in such manner that — 



the increment of tax between a taxable value of 20,000?. and a taxable value 



of 20,001?. shall be 3d. ; 

 the increment of tax between a taxable value of 35,000?. and a taxable value 



of 35,001?. shall be id. ; 

 the increment of tax between a taxable value of 50,000?. and a taxable value 



of 50,001?. shall be 5c?. ; 

 the increment of tax between a taxable value of 65,000?. and a taxable value 



of 65,001?. shall be 6c?. ; and 

 the increment of tax between a taxable value of 80,000?. and a taxable value 



of 80,001?. shall be 7d. 



For every pound sterling of taxable value in excess of 80,000?. the rate of tax 

 shall be Id, 



