RETURNS OF LAND

Gisborne Times, Volume LXIX, Issue 10854, 25 March 1929, Page 6

RETURNS OF LAND

DUE ON APRIL 8

PENALTY FOR NEGLECT,

Furnishing a return of land is an annual duty imposed by law upon all landowners who at noon on the- 31st March hold land ofi an unimproved value according to kho Government valuation in excess of £ooo. The unimproved value is the value of 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 now obtainable at all post offices. Details of the land held at the 31st .March, 11)29, should he entered, in Part 3 of the form. Under Part 1 particulars of registered mortgages and unpaid purchase-money should bo shown, fi is necessary to show the exact amount of principal owing at the B!st March, 1929. The return should be completed and returned to the Commissioner of Taxes, Wellington, on or before the Bth April. Au v person neglecting io furnish a return is liable to a penaltv not exceeding £l9O.

Neglect to furnish returns at the prescribed time not only renders taxpayers liable to prosecution but also in innnv cases for considerably more tax than would otherwise bo payable. The Act provides- for an exemption in respect of registered mortgages or balances of puveha.semonov in certain circumstances, hut to obtain the exemption it is essential that a reiurn showing the amount owing on the "Ist March should be furnished. The Department cannot assume that mortgager are owing, and in the absence- of a i-'-turn the assessment is made as though the land were unencumbered. The tax assessed in these eases may be in excess of the amount winch would be payable if the return had been furnished. All person? liab'e to • furnish returns are therefore advised in their own interests to forward tlii-ii* returns on or before the above date.