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AIN3701 Assignment 2 (COMPLETE ANSWERS) 2024 (592338) - DUE 12 July 2024
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AIN3701 Assignment 2(COMPLETE
ANSWERS) 2024
(592338) - DUE 12
July 2024
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, AIN3701 Assignment 2 (COMPLETE ANSWERS) 2024
(592338) - DUE 12 July 2024
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
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,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
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,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. 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
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,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. Therefore, refrain from using arrays and
collections. Lastly, please make use of a FUNCTION to
calculate the tax payable. Your SUB PROCEDURE should
only facilitate the input from and the output to the user.
For the selection structure(s), please use IF-statements.
32 (b) Answer the following section in your Excel
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,workbook in the textbox provided in worksheet “Part B”.
Discuss two benefits of making use of Functions in VBA. 2
(c) Answer the following section in your Excel workbook
in the textbox provided in worksheet “Part C”. Explain
three benefits of automating this task to Ikhishi Likagogo
3 (d) Answer the following section in your Excel
workbook in the textbox provided in worksheet “Part D”.
Discuss three potential risks that may arise when coding
the solution using VBA.
Solution
To complete the assignment, you'll need to perform
the following steps:
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, ### Step-by-Step Guide
#### 1. **Download and Save the Workbook**
- Download the provided Excel file called
`Assignment_`.
- Save it as `yourstudentnumber_Surname_A.xlsm`
(macro-enabled workbook).
#### 2. **Open VBA Editor**
- Press `Alt + F11` to open the VBA editor.
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