How Much Child Support Will I Need to Pay?
Following the awarding of child custody after parents have separated, the party who has not been given custody will have to pay a certain amount of money each month in order to support the child. There are no hard and fast rules as to what exactly this money will be spent on by the other parent, but there are guidelines around the fact that the money must be spent on the child, be it with items for the child or costs associated with housing and bills.
In terms of how much child support you will have to pay, there is no set amount as it depends on a number of factors. With this being said, there is a formula that will be implemented by child services, which will calculate how much you should pay each month.
Working Out Income
The first step will take a look at the income of each child’s parent, which is then adjusted for taxation. Once this figure is obtained the courts will deduct the amount considered fair for self support, with all factors taken into consideration. These two figures are then combined, and the fee of both incomes will be the starting point to calculate how much should be paid.
Percentage of Care
The percentage of care that each parent has is also added to the mix here, in order to keep things as fair as possible. This is much of the reason why getting a great lawyer is critical. In terms of getting a great family lawyer, Melbourne has many excellent and experienced lawyers who have a track record of delivering great results for their clients. This will be important for you as even if you are not awarded child custody, you may be able to have a larger percentage of care if your case is presented well.
Costs of The Child
Using the original figure the courts will then consider a percentage of it having removed costs associated with the living costs of each parent. This is the percentage that is then used to calculate the final fee. To come up with this figure the courts will then take into consideration the cost of providing for the child. Costs can vary depending on the age and activity level of the child, which is why no two cases are alike.
The courts will never ask either parent to pay more than they can, which is why this matrix is used in the calculations. Additional considerations may be made for other child support which a parent may be paying, debts that they have or any other financial complications that may arise.
Once all of this is taken into consideration and the steps to calculate child support taken, a final figure will be reached which must be met by the parent who is not the primary caregiver. All payments of child maintenance can be reviewed when the situation of either parent changes, and they are certainly not set in stone.