Child support orders are made as a way to mandate that a child receives financial support from each parent on a fair and reasonable basis.
As it has been suggested that Jake will have Samuel for 65% of the time it is likely that an order for child support would go in his favour, with Lana being liable to pay any amount that might be awarded pursuant to s.66C of the FLA.
This is determined by:
1. Income, minus a self support amount:
First both parents income are considered.
Lana earns $450,000 and Jake earns $80,000.
The self-support amount, which is the same for both parents, is $24,154. This amount is then taken from each parent’s income.
This means that the total combined income for both parents is $481,692.
2. Income percentage: …show more content…
In the care of Samuel, it is suggested that Jake will have a care percentage of 65%, while Lana will have a care percentage of 35%. This means that Jake has a cost percentage of 75% and Lana has a cost percentage of 25%.
4. Child support percentage
Next the cost percentage is deducted from the parent’s income percentage to arrive at the child support percentage.
Jake has an income percentage of 11.59%, and a cost percentage of 75% meaning that his child support percentage is -63.41%. The negative number confirms that a child support order would go in his favour.
Lana has an income percentage of 88.41% and a cost percentage of 25% meaning that her child support percentage is 63.41%.
5. Costs of the children:
Given Samuel’s young age and taking into consideration his parents combined taxable income, the cost of the child in this matter is $22,101
6. Amount Payable:
The amount of child support that will be awarded is decided by multiplying the child support percentage by the costs of the child.
Samuel’s cost of the child is $22,101; the child support percentage is 63.41%.
This means that Lana is liable to pay Jake $14,014 per
As it has been suggested that Jake will have Samuel for 65% of the time it is likely that an order for child support would go in his favour, with Lana being liable to pay any amount that might be awarded pursuant to s.66C of the FLA.
This is determined by:
1. Income, minus a self support amount:
First both parents income are considered.
Lana earns $450,000 and Jake earns $80,000.
The self-support amount, which is the same for both parents, is $24,154. This amount is then taken from each parent’s income.
This means that the total combined income for both parents is $481,692.
2. Income percentage: …show more content…
In the care of Samuel, it is suggested that Jake will have a care percentage of 65%, while Lana will have a care percentage of 35%. This means that Jake has a cost percentage of 75% and Lana has a cost percentage of 25%.
4. Child support percentage
Next the cost percentage is deducted from the parent’s income percentage to arrive at the child support percentage.
Jake has an income percentage of 11.59%, and a cost percentage of 75% meaning that his child support percentage is -63.41%. The negative number confirms that a child support order would go in his favour.
Lana has an income percentage of 88.41% and a cost percentage of 25% meaning that her child support percentage is 63.41%.
5. Costs of the children:
Given Samuel’s young age and taking into consideration his parents combined taxable income, the cost of the child in this matter is $22,101
6. Amount Payable:
The amount of child support that will be awarded is decided by multiplying the child support percentage by the costs of the child.
Samuel’s cost of the child is $22,101; the child support percentage is 63.41%.
This means that Lana is liable to pay Jake $14,014 per