Disclaimer: This article is only intended for educational purposes and shouldn’t be used as a substitute for legal advice.
So have you reached common ground with your spouse for child support? If yes, it’s probably time to get to the next step, which is to calculate the child support. The first step is basically to calculate the annual income of both parents so that a final decision can be made.
This post will cover all information regarding calculating child support in Canada.
Child Support in Shared Parenting
Shared parenting is when child spend their time equally with both parents throughout the year. The parent who earns more is usually the one who pays the child support in this case. The first step is to find out about the annual gross income of both parents. Based on the annual income, the child support is calculated to be paid by each parent.
Find out monthly payments and then subtract both of them. The higher income earner pays the difference between monthly payments to the other parent. In contrast, the other parent does not pay for it. Since there are extraordinary and other expenses involved in the process, make sure to include them in monthly payments as well.
Child Support in Single Parenting
The parent who keeps the child for most time is the one who receives child support. First, the paying parent’s annual income is calculated, and then the child support for each month is calculated.
You can hire a lawyer to handle the whole process, so you don’t end up making a mistake. If the couple is separated, they have to pay for other expenses, such as extracurricular activities or daycare.
Child Support in Split Parenting
In a split custody arrangement, the parents pay child support for one or more children for primary care. The first step is again to find out the annual income of each parent, assessing monthly payments, and then calculating the difference between monthly payments for childcare. The difference is again to be paid by the high-income earner to the other parent.
If you’re unable to handle everything on your own, then it’s best to hire an expert for the job. We hold years of experience in family law and can assist you in calculating the child support by each parent.
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