If you and the other parent of your child/children have reached a private agreement regarding the payment of child support, we can assist you in formalising the agreement.
We can assist you in formalising your agreement by either drafting a Limited Child Support Agreement or Binding Child Support Agreement.
What is a Limited Child Support Agreement?
It is an agreement in writing that is signed by both parties. There is no requirement that the parties receive legal advice before entering into a limited agreement.
What do you need before entering into a Limited Child Support Agreement?
Before entering into a Limited Agreement you will need:
- a child support assessment; and
- the annual rate of child support payable under the limited agreement must be equal to, or more than the annual rate of child support under the child support assessment.
To apply for a child support assessment, please contact the Child Support Agency on 131 272 or online at www.humanservices.gov.au/customer/services/child-support/child-support-assessment
What is a Binding Child Support Agreement?
It is an agreement in writing that is signed by both parties. There is a requirement that both parties receive independent legal advice about entering into or ending a Binding Child Support Agreement.
When entering into a Binding Agreement, you don’t need a child support assessment and it can be made for any amount that is agreed to.
What type of payments can be included in Child Support Agreements?
Three types of payments can be made under a Child Support Agreement:
- Periodic Payments – for example the set monthly amount of child support paid;
- Non-Periodic Payments – for example payments such as the school fees, private health insurance of the children and/or extracurricular activities; and
- Lump Sum Payments – a lump sum payment or transfer of property, which is to be credited as periodic payments of child support.
For additional information regarding child support, you can access the child support guide.
Contact Sempre Vero Lawyers to discuss your child support agreement with an experienced solicitor.
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