RETURNS OF LAND.

Hauraki Plains Gazette, Volume XXXX, Issue 5404, 25 March 1929, Page 2

RETURNS OF LAND.

DUE DATE APRIL 8. PENALTY FOR NEGLECT. Furnishing a return of land is an annual duty imposed by law upon all land owners who at noon on March 31 hold land of an unimproved value according to the Government valuation in exc.ess of £5OO. The. unimproved, value is the; value of the land exclusive of. buildings, fencing, and other improvements. The form of return lias been made, as simple as it is poSr. sible to make it. Forms are now obtainable at all post offices. Details of the land held! at March 31, 1929, should be filtered in Part. 3 of the form. Under Part 1 particulars of registered, mortgages and unpaid purchase-money should! be shown. It is necessary to show the exac.t amount of principal ow'ing at Match 31, 1929. The return should be completed and returned to the Commissioner of Taxes, Wellington, on or before April 8. Any person neglecting to furnish a return is liable to a penalty not exceeding £lOO.

Neglect to furnish returns at the prescribed time, not ony renders taxpayers liable to prosecution, but alsp in many cases; for considierably more tax than would otherwise be payable. The Act provides for an exemption in respect of registered mortgages or balances of purchase money in c.ertain clrciimstanccs, but to obtain the exemption it is essential that a return showing the amount owing, on March 31 should be furnished. The department cannot assume; that mortgages are owing, and in the absence of. a return the assessment is mad*q as though the land were unencumbered.