RETURNS OF LAND.

Thames Star, Volume LXVI, Issue 20271, 25 March 1938, Page 3

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 March 31 hold land of an improved value according to the Government valuation in excess of £SOO.

Neglect to furnish returns at tho 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 or balances of purchase-money in certain circumstances, but to obtain the exemption it is essential that a return showing pariculars of mortgages owing should be furnished. The Land and Income Talc 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 cases may be in excess of the amount which would be payable if the return had been furnished. AH persons liable to furnish returns are therefore advised in their own interests to forward their returns on or before the above date.