Now that you have set your clocks back and are hopefully benefiting from an additional hour of rest, it is time to make adjustments to your payment schedule for ongoing child support obligations. According to the Department of Justice website, http://www.justice.gc.ca/eng/fl-df/child-enfant/ft-tf.html, the Federal Child Support Tables have been updated to reflect more recent tax rules.
The updated Tables will come into effect on November 22, 2017. Until that date, the 2011 Tables continue to apply. What does this mean on a practical level? As a support payor, if your gross annual income is $50,000.00, your monthly child support obligations for one child in the Province of Ontario would be $450.00, pursuant to the 2011 Tables. Commencing on November 22, 2017, however, that same annual gross income would yield child support obligations of $461.00 per month.
If you have questions or concerns about your child support obligations pursuant to the updated Federal Child Support Tables, contact the Ontario family law lawyers at Nanda & Associates today. Our experienced team can help you better understand how these changes will affect you.