RETURNS OF LAND.

Manawatu Standard, Volume LIX, Issue 99, 27 March 1939, Page 8

RETURNS OF LAND.

Furnishing a return of land is an annual duty imposed by law upon all lan - owners who at noon on March 31, hoi l-md of an unimproved value according to the Government valuation in excess of £SOO. The unimproved value is the value of the land exclusive of buildings, fencing, ' and other improvements. The form of re--5 turn has been made as simple as it is pos- ' sible to make it. Forms are obtainable at ' all post offices. Details of the land held ■ at. March 31, 1939. should be entered ill 1 Fart 3 of the form. Under Part 1 par- ' ticnlars of registered mortgages and nn- > paid purchase-money should be shown each - year irrespective of whether any change l has taken place or not. The return should be completed and returned to the Commissioner of Taxes, Wellington, C. 3, on or before April 11. Any person neglecting to furnish a return is liable to a penalty ' not exceeding £IOO. Neglect to furnish returns at the prescribed time not only I renders taxpayers liable to prosecution, but also in many cases for considerably more tax than would otherwise lie pay- | able The Act provides for an exemption 1 i-1 respect of registered mortgages or ' balances of purchase-money in certain cir'oumstances, hut to obtain the exemption , 'if is essential that a return showing pari (iculars of mortgagee owing should be furnished