Tax Incentives
The ___________ uses tax incentives to help increase economic development.
Government
What is a common example of financial incentives in sports contracts?
Signing bonus?
Without government subsidies in the oil and gas sector, how much would a gallon of gas cost? (nearest 25 cents)
$12.75
The ability to pay off ______ is a pro of tax rebates.
Debts
Scenario: You get pulled over on the highway to park royal for 110km/h in an 80km/h, What negative incentive will you be given?
Speeding ticket/fine?
Name two of the three ways the government allows taxes to be reduced.
Tax deductions, Credits, and Exemptions.
What is considered a financial incentive other than cash?
Stocks?
Do subsidies help Lower, or Increase inflation?
Inrease
What is the main goal of tax incentives?
To aid small businesses and encourage growth.
What's an example of a negative incentive, that Avery said?
Receiving a fine for littering?
What is a major con of tax incentives?
It can create an unbalance in the markets.
Illegal financial invectives are commonly used by criminals to keep people on their side, what is this known as?
Bribery?
What EV manufacturer is only profitable because of government subsidies?
Tesla
Why do some people receive tax rebates at the end of the year?
They accidentally paid more in tax than they needed to.
What is the main goal of negative incentives?
To discourage/prohibit certain activities.
What type of tax is not applied to the purchase of an electric vehicle?
Sales Tax?
In some states in the US, what is the government offering the public for receiving the Covid-19 vaccine?
Lottery tickets? (Vax and Scratch)
____ is a government offered subsidy designed to help curve the economic load of Covid-19.
CEWS? (Canada Emergency Wage Subsidy)
Which of the following is a Tax rebate parents in Canada can apply for?
a: Child Care Deduction
b: Child Tax Credit
c: Working-Family Tax Credit
a: Child Care Deduction
Negative incentives are also known as ___________.
Disincentives.
What negative Tax incentive was introduced in B.C. to discourage foreign homebuyers?
Foreign buyers tax.
To reduce the snake population in India, the U.K implemented a bounty program on dead cobras brought to the administration officials. What did people start doing to claim the incentive?
Breed snakes to kill them.
What do subsidies do to the Supply or Demand curves?
Shift it to the right.
First-time home buyers program does what to your property taxes?
a: increase
b: reduce
c: nothing
B.C. does what to sales tax to disincentivize the consumption of alcohol?
Increase it