I know it sounds stupid...but I am confused on how do I calculate over $150,000?
My Ex has provided his T4.
On it it states his income as 202077.91
on line 40 he has extra taxable income at 14228.13 (car expenses etc)
total: $216306.04
Agreed deductions of : $14,900 (car expenses and travel to visit child)
total: 201406.04
Quebec guidelines:
150000 = child support is 1223 and 72% of difference
This is where I get confused and need someone to dummy it down for me:
201406.04 - 150000= 51406.04
72% of 51406.04= 37012.35 (?)
Then what do I do? Is that right?
37012.35 / 12 months=3084.36 per month plus 1223 ???= 4307.36 ??
This cant be right.
1223 x12 months= 14676 a year
37012.35 a year= 51688.35
=4307.36 per month?
My Ex has provided his T4.
On it it states his income as 202077.91
on line 40 he has extra taxable income at 14228.13 (car expenses etc)
total: $216306.04
Agreed deductions of : $14,900 (car expenses and travel to visit child)
total: 201406.04
Quebec guidelines:
150000 = child support is 1223 and 72% of difference
This is where I get confused and need someone to dummy it down for me:
201406.04 - 150000= 51406.04
72% of 51406.04= 37012.35 (?)
Then what do I do? Is that right?
37012.35 / 12 months=3084.36 per month plus 1223 ???= 4307.36 ??
This cant be right.
1223 x12 months= 14676 a year
37012.35 a year= 51688.35
=4307.36 per month?
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