References:
Simplified problem description:
BC government charges property transfer tax for each residential property purchase transaction. The amount of tax charged is based on the fair market value of the property.
The property transfer tax is charged at a rate of:
For example, if the value of the property is $570,000, then 1% of the first $200,000 is $2,000, and 2% of the remaining value ($370,000) is $7,400. So the total tax payable is $9,400.
If the property is purchased by a BC resident and the buyer is a first-time home buyer, then the property transer is eligible for an exemption. The exemption is calculated according to the following rules:
8000 - 8000 * (value - 835000) / 25000
If you want to know more about the property tansfer tax in BC, visit: http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax
Your tasks:
Download the Lab 6 input file, where you can view all the parameter information and a set of testing data with their corresponding calculated results.
Design a userform to collect the following information:
On the userform, there should be a commond button called "Calculate", which, upon clicking, should calculate and present the amount of the property transfer tax the user actually need to pay based on the user input and the BC government's rules. Write the input and calculated data to the proper cells in the transaction record area of the Excel file.
Save your work to a Macro-enabled Excel file (with the extension name .xlsm).
Suggestions:
You can divide the problem into two sub-problems:
Then the actual transfer tax payable can be calculated as normal amount minus the exemption amount.
There is NO assignment following this lab.