Binding agreements for Child Support
Binding agreements are written agreements for Child Support signed by both parents, but have the following differences to limited agreements:
- parents must seek independent legal advice to enter or end the agreement
- each parent’s lawyer must provide a statement that they provided the parent with independent legal advice and the agreement must also include an acknowledgement of this advice
- the agreement can be made for any amount that both parents agree to, including amounts less than any existing assessment
- the agreement can only be ended by a new binding agreement, binding termination agreement or a court order setting it aside
- there does not have to be a Child Support assessment already in place
- parents cannot ask for a new notional assessment to be issued.
Your lawyer will provide you with more information about this type of agreement.
Lump sum payments
Binding agreements can include lump sum payments (including transfer of property) to be credited as Child Support, instead of monthly cash or electronic payments.
For these types of agreements, there must be an assessment in place (unless you also want to make an agreement about the amount of Child Support to be paid) and the lump sum must be equal to or greater than the annual Child Support rate under that assessment. The lump sum (and amounts credited annually) are indexed to Consumer Price Index (CPI).
Apply for a Child Support Assessment online.