Hi I need help with something, I really don't know how to do this, but how would I add these questions in to VBA? could somebody tell me for atleast one.
The net take-home income and other values are calculated as follows:
1) Calculate CPP and EI
If annual income is greater than $48,600, then
EI = $913.68 Otherwise EI = annual income * 1.88%
If annual income is greater than $49,000, then
CPP = $2425.50 Otherwise CPP = annual income * 4.95%
2) Calculate Federal Tax on taxable income (taxable income = annual income – CPP – EI)
15% on the first $43,953 of taxable income, +
22% on the next $43,954 of taxable income (on the portion of taxable income over
$43,953 up to $87,907), +
26% on the next $48,363 of taxable income (on the portion of taxable income over
$87,907 up to $136,270), +
29% of taxable income over $136,270.
3) Calculate Provincial Tax on taxable income (taxable income = annual income – CPP – EI)
5.05% on the first $40,120 of taxable income, +
9.15% on the next $40,122 of taxable income (on the portion of taxable income over
$40,120 up to $80,242), +
11.16% on the next $433,848 of taxable income (on the portion of taxable income
over $80,242 up to $514,090), +
13.16 % on the amount over $514,090
4) Calculate Annual Net Take-home Income and other…
Total Tax = Federal Tax – Provincial Tax
Net Take-home = annual Income – CPP – EI – Total Tax
Monthly Take-home = Net Take-home / 12
Bi-weekly Take-home = Net Take-home / 26
Weekly Take-home = Net Take-home / 52