RETURNS OF LAND

Dominion, Volume 24, Issue 150, 21 March 1931, Page 6

RETURNS OF LAND

Liability on Owners PENALTY FOR NEGLECT Furnishing a return of land, in an annual duty imposed by law upon all “noowners who, at noon on March 01, hold land of an unimproved value, according to the Government valuation, in excess ol £5OO. The unimproved value is the value ol the land, exclusive of buildings, fencing and other improvements. The form of return has been made as simple as it is Possible to make it. Forms are obtainable at all post offices. „ Details of the land held at March 31, 1931, should be entered in part 3 of the form. Under part 1 particulars of registered mortgages and unpaid purchase money should be shown each Y 6B ?' ff 16 " spective of whether any change had taken place or not. The return should be completed and returned to the Commissioner of Taxes, Wellington, on or before April 8. Any person neglecting, to furnish a return is liable to a penalty not exceeding Act provides for an exemption m respect of registered mortgages or balances of purchase money in certain circumstances, but to obtain the exemption it n essential that a return showing particulars of mortgages owing should be furnished. The department cannot assume that mortgages are owing, and in the absence of a return the assessment is made as though the land were unencumbered.