INCOME RETURNS.

Waikato Times, Volume 97, Issue 15273, 25 June 1923, Page 4

INCOME RETURNS.

FAILURE TO FURNISH DETAILS, SPORTSMAN IN TROUBLE. A Waikato fanner and race-horsa owner, Gerald L. Stead (Mr Stace), was charged on three counts at" the Magistrate's Court, Hamilton, to-day, with failing to furnish the Commissioner of Taxes, within the prescribed time, the necessary form setting out a complete statement of all assessable income. Mr Gillies, for the prosecution, said that he was instructed to press for a fairly heavy penalty, as there apparently had been some carelessness in the matter. Counsel for defendant said that Stead's affairs were in rather an involved state, and he had instructed accountants to work out his books. The accountants, however, had experienced trouble, and their work had not been finished when the summons was issued. The returns now showed that defendant actually did not possess anyassessable income, and was not, therefore a taxpayer.

His Worship pointed out that defendant was liable to a fine of £IOO on each charge, but it would be sufficient were he fined £lO on each of three charges, and ordered to pay Court costs 7s and counsel's fee £2 2s.