7.1.1 Calculating payment rates
Calculating the daily & payment rates
When the Registrar registers a periodic maintenance liability, a daily rate payable under that maintenance liability must be calculated.
Depending on the payment period (1.1.P.50), a weekly, fortnightly, 4-weekly or monthly payment rate must also be calculated. The child support debt (1.1.C.90) will be due and payable at particular periods, depending on the payment period.
The payment rate is calculated by multiplying the daily rate by the following number of days. The daily rate can be calculated by dividing the period of the liability by the number of days in that period.
The following table shows how many days are in each period.
Period | Number of days in the period |
---|---|
Weekly | 7 |
Fortnightly | 14 |
4 weeks | 28 |
Month | 30.4375 |
Year | 365.25 |
A daily rate is rounded up to 5 decimal places by reference to the value of the sixth decimal place.