Contractors must use the formats provided in the below Post Award Exhibits. Contractors are required to justify their Economic Price Adjustment (Clause 552.216-70), Price Increases above 10% and 25% for paper products with letters from their suppliers or any other sources that are applicable.
Previously, the victory tax was applied to all medalists' reward money and the value of their medals. During the last Olympics, gold medalists received a sum of $25,000, silver medalists raked in $15,000, and bronze winners collect $10,000 â all of which were taxed as income. Meanwhile the value of medals were roughly $600 for gold, $300 for silver, and only $4 for bronze (which are mostly made out of copper).
How much is an Olympic gold medal really worth? That depends. In terms of the medal alone, the answer is $700, according to Bloomberg. A gold medal from the 2012 London Olympics actually contains more silver than gold â each gold medal is only required to have at least 6 grams of gold. Most gold medalists do, however, get some type of cash payment along with their medallion, but the amount of money depends on the athleteâs country. The U.S. pays $25,000 per gold medal, $15,000 for the silver and $10,000 for the bronze. That might seem chintzy compared to what other countries pay, but the U.S. also tends to have more medal winners than many of the countries that pay higher amounts. Hereâs a look at estimates for what a few countries pay their gold-medal champions. Singapore: $800,000. Kazakhstan: $250,00. Italy: $182,000