Podcast
Questions and Answers
What is the purpose of the interview questions about taxes and class council fee?
What is the purpose of the interview questions about taxes and class council fee?
- To investigate government spending
- To prepare for a community service event
- To gather information for a school project
- To understand the financial responsibilities of citizens in Hong Kong (correct)
Why is it important for every citizen in Hong Kong to be familiar with the budget booklet?
Why is it important for every citizen in Hong Kong to be familiar with the budget booklet?
- To boost the economies during economic downturn
- To help those people who are in need financially
- To promote better city development
- All of the above (correct)
Why does the government only hand out cash to adult permanent residents?
Why does the government only hand out cash to adult permanent residents?
- They have obligations and responsibilities as tax-paying citizens (correct)
- They have higher financial needs compared to younger citizens
- Because younger citizens are not Hong Kong residents
- All of the above
What is the main concern expressed by the 17-year-old about the cash handouts?
What is the main concern expressed by the 17-year-old about the cash handouts?
Why does the government require serious planning for the class council fee?
Why does the government require serious planning for the class council fee?
What does 'revenue' refer to in the context of public finance?
What does 'revenue' refer to in the context of public finance?
Which of the following is considered a major tax in Hong Kong?
Which of the following is considered a major tax in Hong Kong?
What is responsible for managing taxes in Hong Kong?
What is responsible for managing taxes in Hong Kong?
What is a source of non-tax revenue for the HKSAR government?
What is a source of non-tax revenue for the HKSAR government?
Which of the following is NOT a type of major non-tax revenue in Hong Kong?
Which of the following is NOT a type of major non-tax revenue in Hong Kong?
Flashcards
Purpose of tax/fee questions?
Purpose of tax/fee questions?
To understand the financial responsibilities of citizens in Hong Kong.
Importance of budget booklet?
Importance of budget booklet?
Citizens need to understand how public funds are managed for their benefit.
Why only adults get cash?
Why only adults get cash?
Adult permanent residents have financial and civic duties as tax-paying citizens.
Teen's concern about handouts?
Teen's concern about handouts?
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Why plan class council fees?
Why plan class council fees?
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What is 'revenue'?
What is 'revenue'?
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Major HK tax example?
Major HK tax example?
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Who manages HK taxes?
Who manages HK taxes?
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Non-tax revenues source?
Non-tax revenues source?
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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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