Correct age in the Financial Affidavit

Aug 6th, 2022
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Close to 80 percent of children under the age of 12 were placed in their mothers custody in cases where a court order existed. Almost 7 percent were placed in their fathers custody, and for 13 percent of children, a shared custody arrangement was established.
Child support must be paid as long as the child is a dependent. Dependent usually means until the child turns 18 and sometimes longer. A child is not dependent if they marry, or are at least 16 years old and choose to leave home.
The total child support amount is then split between the parents ing to their income and assets. Finally, the court will take into account the number of overnights the child spends with each parent. In cases of 50/50 custody, the parents are presumed to be paying equal expenses.
Shared or split custody does not mean there will be no child support paid. It will depend on the financial circumstances of the parents.
In the Eligible Dependent Tax Credit, both parents cannot claim the same dependent in the same tax year. However, parents can alternate who claims the credit each year.
They list the support owed based on annual income and number of children. For example, the support owed by a parent living in Ontario and earning $60,000 annually, with 2 children, will be $892/month. The support for a parent with an income of $100,000 and 2 children will be $1,416/month.
If you are the paying parent and have a new family to support, you are still required by law to financially support your children from your first relationship. However, having a second family to support is an example of a situation that could cause undue hardship for you or for your children.

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