Exam (elaborations)
AIN3701 Assignment 2 2024 (592338) - DUE 12 July 2024
- Course
- Institution
AIN3701 Assignment 2 2024 (592338) - DUE 12 July 2024 QUESTIONS WITH ANSWERS
[Show more]
Seller
Follow
mpumeleloh
Reviews received
Content preview
AIN3701 Assignment2 2024 (592338) -
DUE 12 July 2024
QUESTIONS AND ANSWERS
[DATE]
[COMPANY NAME]
[Company address]
, AIN3701 Assignment 2 2024 (592338) - DUE 12 July 2024
AIN3701 – Data analysis and automation Assignment 2 – 2024 Unique
number: 592338 Deadline: 12 July 2024, at 23:00
Ms Jansen (financial director) once again called you to her office for some
assistance. One of the employees of Ikhishi Likagogo called the manager of
the Pay Office (reporting to Ms Jansen) to enquire how much tax he/she
needs to pay for the current year. The Pay Office manager used the tax tables
provided by the South African Revenue Services (SARS) to assist the
employee. On average, the Pay Office manager gets up to five calls every day
from employees asking this question. Ms Jansen provides you with the
following spreadsheet (as attached): You will notice in column A that there are
different tax brackets. Columns B and C put these values in different columns.
Then you will see a base amount in column D with a percentage (%) in
column E. Let me quickly explain to you how this work. Let’s say your yearly
salary is R550 000. As the salary is between R512 801 and R673 000 the
base tax amount will be R115 762 plus 36% of the amount above R512 801.
Therefore, the tax will be: (R550 000 – R512 801) x 36% + R115 762 = R129
154. The Income Tax Act allows each natural person to claim a tax rebate.
Everyone can claim a primary rebate of R17 235. After the age of 65 years,
you can claim an additional secondary rebate of R9 444. Then after 75 years
old, an additional tertiary rebate can be claimed of R3 145. Please note that
this is applicable to the 2024 tax year. The solution should also take the age
of the taxpayer into consideration. Open Rubric lOMoARcPSD| For example,
let’s say you are 45 years old. You would then be able to claim a primary
rebate against the above calculated tax. Therefore, the tax payable by you for
the 2024 tax year is (if your salary is R550 000) is: R129 154 – R17 235 =
R111 919. Ms Jansen asked you to create a button to request the employee’s
salary as well as the employee's age (in the “Taxtables” worksheet). The
calculated result should display via a message box. REQUIRED: Marks
(a) Please download the attached Excel file called Assignment_. Perform all
coding in this workbook. When done, save the workbook as
yourstudentnumber_Surname_A (macro enabled workbook), for example
_VanStaden_A. Code the solution to the problem as required in the e-mail
from Ms Jansen by making use of Visual Basic for Applications (VBA). Make
sure your coding complies to coding best practices. No marks will be awarded
for coding functions and commands not covered in AIN2601 and AIN3701.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mpumeleloh. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.85. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
56326 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now