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| Salary Sacrifice and Child Support |
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Salary Sacrifice and Child Support
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| Are you? |
- A separated parent who pays or receives child support? |
| At a glance: |
- Changes to the calculation of adjusted income for Child Support purposes will take effect from July 1, 2009. |
| You should: |
- Be aware of the items included in the calculation of child support income.
- Contact us if you require any clarification or advice. |
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| 1. |
As a result of recent legislative changes, income for the purposes of child support payments will be calculated using a new formula.
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| 2. |
Voluntary salary sacrificed superannuation contributions will now be included in the calculation of child support income.
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| 3. |
Compulsory superannuation contributions, such as employer contributions made under |
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superannuation guarantee requirements, will continue to be disregarded in the computation of child support income.
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| 4. |
In addition, net losses from financial investments will now be added to a parent's adjusted taxable income for child support purposes.
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| 5. |
The changes will take effect from July 1, 2009 and will affect child support assessments for the periods after July 1, 2010.
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we help you?
Contact us
To discuss how we can
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call us on (02) 9874 8038 or
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