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Questions and Answers
What is the purpose of the interview questions about taxes and class council fee?
Why is it important for every citizen in Hong Kong to be familiar with the budget booklet?
Why does the government only hand out cash to adult permanent residents?
What is the main concern expressed by the 17-year-old about the cash handouts?
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Why does the government require serious planning for the class council fee?
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What does 'revenue' refer to in the context of public finance?
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Which of the following is considered a major tax in Hong Kong?
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What is responsible for managing taxes in Hong Kong?
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What is a source of non-tax revenue for the HKSAR government?
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Which of the following is NOT a type of major non-tax revenue in Hong Kong?
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Study Notes
Understanding Taxes and Public Finance in Hong Kong
- The interview questions about taxes and class council fee aim to assess one's understanding of the importance of budget and financial management in Hong Kong.
Importance of Budget Familiarity
- Every citizen in Hong Kong should be familiar with the budget booklet as it outlines the government's financial plans and allocations, affecting everyone's lives.
Cash Handouts
- The government only hands out cash to adult permanent residents, indicating that only eligible citizens can benefit from this financial support.
Concerns about Cash Handouts
- The 17-year-old's main concern about the cash handouts is that they might not be effectively utilized, highlighting the importance of responsible financial management.
Class Council Fee Planning
- The government requires serious planning for the class council fee to ensure its efficient allocation and management, emphasizing the need for financial prudence.
Understanding Revenue
- In the context of public finance, 'revenue' refers to the income generated by the government through various sources, including taxes and non-tax revenue streams.
Major Taxes in Hong Kong
- One of the major taxes in Hong Kong is Salaries Tax, highlighting its significance in the government's revenue generation.
Tax Management in Hong Kong
- The Inland Revenue Department (IRD) is responsible for managing taxes in Hong Kong, overseeing tax collection, and ensuring compliance.
Non-Tax Revenue Sources
- A source of non-tax revenue for the HKSAR government is the revenue generated from the sale of government bonds.
Non-Tax Revenue Exclusion
- Rent and royalties are not considered a type of major non-tax revenue in Hong Kong, distinguishing them from other revenue streams.
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Description
This pre-lesson task involves interviewing parents about taxes in Hong Kong and collecting information about class council fees. Students are required to jot down their findings and information about the class council fee usage.
