14Conversion of annual rates into daily rates of payment

14 Conversion of annual rates into daily rates of payment

(1) For the purposes of section 69 of the Act, an annual rate of child support is to be converted into a daily rate by using the following formula: Start formula DR equals start fraction AR over 365.25 end fraction end formula where:

AR is the annual rate of payment.

DR is the daily rate of payment.

(2) In calculating a conversion, the daily rate must be rounded to 5 decimal places (rounding up if the sixth decimal place is 5 or more).