Hi,
My wife and I recently separated (Dec 19), and are coming up with a financial agreement. We are relatively amicable but one thing has us a bit stuck.
Her mother died about 9 months pre-separation. Now post separation my ex has received a large inheritance. I do not want to make a claim on these monies (and my rights is a different topic).
My challenge is the calculation of child support. She has 9/14 days with the kids and a lower income, so the CSA formula based on taxable income has a substantial payment from me to her. His doesn’t seem right with her large assets (I have few assets). She may generate some taxable income from assets, but this will be sporadic and likely short term.
How can this be resolved? Is this a case for ‘reason 8’? Can we get the CSA to consider assets on our first assessment? What kind of outcome in practical terms does a ‘reason 8’ give? are there other ways to move forward?
Also, we will get a CSA assessment done soon. Can these be based on estimates, eg for the next financial year? Both of our work situations have changed, so the 18-19 taxable income does not represent what 19-20 will be.
Thanks!
My wife and I recently separated (Dec 19), and are coming up with a financial agreement. We are relatively amicable but one thing has us a bit stuck.
Her mother died about 9 months pre-separation. Now post separation my ex has received a large inheritance. I do not want to make a claim on these monies (and my rights is a different topic).
My challenge is the calculation of child support. She has 9/14 days with the kids and a lower income, so the CSA formula based on taxable income has a substantial payment from me to her. His doesn’t seem right with her large assets (I have few assets). She may generate some taxable income from assets, but this will be sporadic and likely short term.
How can this be resolved? Is this a case for ‘reason 8’? Can we get the CSA to consider assets on our first assessment? What kind of outcome in practical terms does a ‘reason 8’ give? are there other ways to move forward?
Also, we will get a CSA assessment done soon. Can these be based on estimates, eg for the next financial year? Both of our work situations have changed, so the 18-19 taxable income does not represent what 19-20 will be.
Thanks!