Returns of Land Due
Rodney and Otamatea Times, Waitemata and Kaipara Gazette , 2 April 1941, Page 8
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Returns of Land Due
PENALTY FOR NEGLECT
Furnishing a return of laud is an annual duty imposed by.law upon all landowners who at noon on the 31sf. Match hold land of an unimproved value according to the Government, valuation in excess of £500. The unimproved value is the value of th« land exclusive of buil'dinga, fencing,' and other improvements. Forms are obtainable at all post offices. Details of the land field at the 31st March, 1941, should he', entered in Part 3of the form. Under Part 1 particulars of registered mortgages and unpaid .purchase-money should be shown each year irrespective of whether any change has taken place or not. The return should be completed and returned to the Commissioner of Taxes, Wellington C.3, on or before the 11th April. Any person neglecting to furnish a -return is liable to a penalty not exceed ing £100. Neglect to furnish returns at the prescribed time not only renders taxpayers liable to proseaution but alto in many cases for considerably more tax than would otherwise be payable. The Act provides for an exemption in respect of registered mortgages or balances of I purchase-money in certain circumstances, but to obtain the exemption it is essential that a return showing particulars of mortgages owing should be furnished. The Land and Income Tax Department cannot assume that mortgages are owing, and in the absence of a return the assessment is made as though the laud were unencumbered. The tax assessed in these cases may be in excess of the amount which would be payable if the return had been furnished. All persons liable to furnish returns are therefore advised in their own interests to forward their returns on or before the above date.
