Only a Budget Ninja can get 10/10 in this quiz
How well do you know the budget? Test your knowledge of Fiji’s 2017/18 National Budget.
1When does Government's fiscal year begin?
Government's fiscal year (also known as the financial year) is from August 1st to July 31. Hence, the 2017/18 Budget applies from August 01, 2017 to July 31, 2018. However, some policies have different use dates (e.g. duty increase on alcohol is effective immediately).
2What is the name of the new government ministry that will take care of flooding and drainage problems in Fiji?
3How much is the forecasted Gross Deficit?
4What is the minimum income tax threshold?
The minimum income tax threshold has been increased from $16,000 to $30,000. A General Tax Amnesty (no penalties) for taxpayers with a gross turnover under $1.5 million applies from 30 June to 31 December 2017.
5What is the new salary for an Early Childhood Education teacher with a Bachelor's Degree?
$5 per hour
$9 per hour
$11 per hour
$14 per hour
From the $8.8m for Early Childhood Education salaries, teachers with a Bachelor's Degree will be paid $14/hr, with a Diploma $11/hr, Advance/Higher Education Certificate $9.30/hr, Certificate $7/hr, and Basic Training $5/hr.
6Which of the following organisations has the larger share of the budget?
7How much Value Added Tax (VAT) does Government hope to collect?
Indirect Taxes contribute to the majority ($2.3b) of Government's revenue. This includes VAT ($1b), Customs ($743m), STT ($115m), Departure Tax ($147m), and the new tax, ECAL ($77.5m).
8Which industry is expected to bring in close to $140 million in foreign earnings?
Sugar export earnings for 2017 is expected to be $120.4 million at $708.4 per tonne value. Molasses export is expected to bring in another $19.5 million. The Ministry of Sugar is allocated $60 million.
9What's the forecast for earnings from Tourism?
10How much is the total Government debt as at July 2017?