How much child support should I pay?
Child support is a periodic payment made by one ex-spouse/partner to another for the support and maintenance of their children and are ongoing until the children turn 18 years of age.
The Child Support Agency (which is a sector of the Department of Health and Human Services), has a formula they use to calculate child support which is based on both parents’ taxable income, the number of children and the age of the children and the number of nights that each parent has the children in their care.
You may arrange for the Child Support Agency to make an assessment for child support so that you will know how much you will pay or will be paid. The person who will be paid may arrange for the Child Support Agency to then collect the child support from the person who has been assessed to pay it. If the child support runs into arrears the Child Support Agency will assist you with collecting those arrears.
Alternatively, the parents may enter into a private arrangement by executing a Binding Child Support Agreement (“BCSA”). A BCSA may include anything that is agreed upon between the parents, such as periodic payments and non-periodic payments such as school fees, extracurricular activities, medical and dental expenses etc.).
Each party must obtain independent legal advice in order to execute a BCSA.
If you think a BCSA is right for you, please call us at (03) 9555 7233 or email us at firstname.lastname@example.org so we may assist you with preparing one.
This article provides information that is general in nature and is not a substitute for legal advice.