RETURNS OF LAND
PENALTY FOR NEGLECT “ Furnishing a return of land is an annual duty imposed by law on all landowners who hold land of an unimproved value in excess of £500,” states a circular from the Land and Income Tax Department. “Any person not furnishing a return is liable to a penalty not exceeding £100.” The statement adds that taxpayers who do not furnish returns are not only liable to prosecution, but in many cases are required to pay excess tax. The Act provides exemption for registered mortgages or balances of purchase money in certain circumstances, but to obtain exemption a return showing particulars of mortgages owing should be furnished. “All persons liable to furnish returns are therefore advised in their own interests to forward their returns on or before the above date,” the cicular concludes. Particulars are advertised.
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Bibliographic details
Otago Daily Times, Issue 27040, 26 March 1949, Page 5
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140RETURNS OF LAND Otago Daily Times, Issue 27040, 26 March 1949, Page 5
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