RETURNS OF LAND

Opunake Times, 28 March 1939, Page 2

RETURNS OF LAND

DUE APRIL 11.

PENALTY FOR NEGLECT

Furnishing a return of land is an annual duty imposed by law upon all landowners who at none on the 3.lst March hold land of an unimproved value according t ' the Government valuation in excess of of £SOO. 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 obtainable at all oost-offices. Details of the land held at the 31st March, 1039, should be entered in Part 3 of 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 m not.

The return should he completed and returned to the Commissioner of Taxes, Wellington, C. 3, on or before, the 11th April. Any person neglecting to furn" ish a return is liable to a penalty not exceeding £IOO. Neglect to furnish returns at

the. prescribed time not only renders taxpayers, liable to prosecution but also in many cases for considerably more tax than would otherwise be payable. The Act provides for an exemption in respect of registered mortgages oi balances of purchase-money in certain circumstances, but to ob tain the exemption if is essential that a return showing particulars of mortgages owing should he 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 land were unencumbered. The tax assessed in these eases mav he in excess of the amount which would he payable if the return

bad been furnished. All persons liable to furnish returns are therefore advised in their own interests tq forward their returns on or before the above date.