My Math Forum Real world math help needed with my business

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 March 30th, 2015, 05:07 PM #1 Newbie   Joined: Mar 2015 From: canada Posts: 1 Thanks: 0 Real world math help needed with my business Thank-you in advance for everyone's help with this. I own a home building business. And our government has a rebate of a portion of the GST (federal sales tax) on new homes. Basically anything under 450k before GST gets a rebate. 350k gets the max rebate. It's a sliding scale and is infinitely variable depending on the price. The GST rate is 5% with a max rebate of 36% of that 5%. Here's a link to the worksheet. http://www.cra-arc.gc.ca/E/pbg/tf/rc...190-ws-13e.pdf Unlike almost everything else here, prices for homes are always talked of with GST included. So if I tell someone that to build this plan on this lot, the price is 460,000. That's the GST in price. However, I've got to actually break it down for the contract and other paperwork what the selling price is and what the GST is. So roughly 440k would be the selling price, plus 20k is the GST. But it of course can't be approx, I need to figure out exact numbers. I won't go into why things are priced like this, and why technically I don't even know the exact price I'm selling something for before I sell it. That would take too long to explain. Suffice to say it works better that way. What I need help with is coming up with some kind of equation that if I plug the after tax number in, it'll figure out the pretax number, (or GST), taking into account the rebate. Keep in mind I'm not a math guy, so it needs to fairly simple. Preferably something that will just work with excel. Up to this point I just use the worksheet and work backwards, guessing at numbers until I get the combination correct. Again, I appreciate any help people can offer.

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