PROPERTY TAX.

Wairarapa Daily Times, Volume 4, Issue 1206, 17 October 1882, Page 2

PROPERTY TAX.

Wy bave been requested to publish the following direo.tions for the guidance of owners in preparing statomenta of pro. party under the Property Aisessment Act. Owners are requested to read the following directions before filling up their statements:— It is the intention of tho law that all properly in tho colony belonging to companies, or to persons resident in New Zealand, or to absentees, shall be liable to taxation, lubjeot to the exemptions and exceptions stated in " The Property Aisessment Act, 1879," and tho amendine Act of 1881. _ Property-owners aro requested to bear m mind that they are to uioludtt in their returns all their personal property, excepting those classes exempted by tho Act, They need not include shares in banks, insurance, coal-mining, gold-niining, manufacturing, and other limited or incorporated companies; but sliaroj in building societies should now be included, tho societies then»elvea being exempt, The provision of the Aofc of 1879, that property should be' valued at what it might be expected■; fo' bring if offered at public auction for «tsb, hasbeen repealed. By section Bof tHtf'loUf 1881 it is prorided that proporty and all interests in property, wbethor real or pergonal shall be asseiiod at" the full value of tho same if sold for cash at the dato to which the statement relates,"

A check upon the values returned by owners is'afforded by clause 23 of the Act of 1881, which gives power to the Government to take the properly at the owner's valuation, with 10 per cent added, Date at which property is to be valued. -Seotiou 7 provisos that statements " Bhall bo made as If at twelve o'clock noon on the first of October last previous to the date on which they aroreipactivelr "quired to be made."

Pekawies. .$.» Provided that any petaon who wilfully fails or neglects to furnish a state* meat of propetty at the appointed time, or makes or delivers a false statement, or makes any false answer for the purpose of evading assessment of hia property, or by any falsehood, wilful neijleet, fraud, art, or contrivance attemots to evade the assessment of his property, shall be assessed and charged treble the amount of the lax of which such person hat sought to evade the payment, iaaddition to any tax for which auoh person would have been otherwise liable, and shall also be liable to a penalty rt from |5 to Any person aiding or assisting shall bjf liable to a penalty of from-L5 to L 50... *! t Any person making a false deolaration ' 6hall be deemed guilty of perjury, and be liable to be dealt with accordingly. . For offences for which no other penalty is prescribed, a fine of from £5 to 1100 may be imposed.