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Contemporary  Agricultural  Law. 
person  receiving  rent  in  respect  of  any  land  must,  on  being 
required  by  notice  from  the  Commissioners,  furnish  the  Com- 
missioners with  a return  containing  such  particulars  as  the 
Commissioners  may  require  as  to  the  rent  received  by  him  and 
as  to  the  ownership,  tenure,  area,  character,  and  use  of  the  land, 
and  the  consideration  given  on  any  previous  sale  or  lease  of  the 
land,  and  any  other  matter  which  may  properly  be  re  |uired  for 
the  purpose  of  the  valuation  of  the  land.  It  is  under  this  pro- 
vision that  the  now  famous  Form  IV.  has  been  distributed 
throughout  the  country.  It  is  not  possible  here  to  deal  with 
the  various  values  that  have  to  be  ascertained  under  the  Act, 
but  it  may  be  mentioned  that  “ assessable  site  value,”  which  for 
purposes  of  taxation  is  the  important  value,  assumes  that  the 
land  is  divested  of  any  buildings  and  of  any  other  structures 
(including  fixed  or  attached  machinery)  on,  in,  or  under  the 
surface  which  are  appurtenant  to,  or  used  in  connection  with, 
any  such  building,  and  of  all  growing  timber,  fruit  trees,  fruit 
bushes,  and  other  things  growing  thereon,  and  allowance  is 
made  for  the  expenditure  necessary  in  order  to  divest  the  land 
of  buildings,  timber,  trees  or  other  things  of  which  it  is  to  be 
taken  to  be  divested,  and  of  which  it  would  be  necessary  to 
divest  it  for  the  purpose  of  realising  the  full  site  value. 
Section  61,  sub-section  5,  of  the  Act  is  intended  to  give 
relief  to  the  owners  of  woodland  by  enacting  that  in  the  case 
of  an  estate  comprising  land  on  which  timber,  trees,  or  wood 
are  growing,  passing  on  death,  the  value  of  the  timber,  trees,  or 
wood,  shall  be  aggregated  with  the  other  property  passing  on 
the  death  of  the  deceased  for  the  purpose  of  determining  the 
rate  of  estate  duty  ; but  the  estate  duty  which  would  be  payable 
on  the  principal  value  of  the  timber,  trees,  or  wood,  shall  not 
be  payable  thereon  but  shall  be  payable  on  the  net  moneys  (if 
any),  after  deducting  all  necessary  outgoings  since  the  death  of 
the  deceased,  which  may  from  time  to  time  be  received  from 
the  sale  of  the  timber,  trees,  or  wood  when  felled.  This  pro- 
vision will  make  it  necessary  to  have  careful  valuations  made 
of  timber  and  trees  on  the  death  of  an  owner  of  woodlands  and 
a careful  account  kept  of  all  subsequent  outgoings  in  respect 
thereof  and  sales  of  timber. 
Section  69  of  the  same  Act  extends,  in  the  case  of  agricul- 
tural land,  the  relief  from  income  tax  under  Schedule  A already 
afforded  by  enacting  that  if  the  owner  of  any  land  shows  that  the 
cost  to  him  of  maintenance,  repairs,  insurance,  and  management, 
according  to  the  average  of  the  preceding  five  years  has  exceeded 
one-eighth  part  of  the  annual  value  of  the  land  as  adopted 
for  the  purpose  of  income  tax  under  Schedule  A he  shall  be 
entitled,  in  addition  to  the  one-eighth  reduction  of  assessment 
allowed  under  section  35  of  the  Finance  Act,  1894,  on  making 
