35Conversion of annual rates into daily rates

35 Conversion of annual rates into daily rates

(1) For section 69 of the applied Assessment Act, an annual rate of child support is to be converted into a daily rate by using the formula:

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where:

DR is the daily rate of payment; and

AR is the annual rate of payment.

(2) In working out a conversion, the calculation must be made to 6 decimal places and: (a) if the final figure is greater than 4—the second‑last figure must be increased by 1 and the final figure then disregarded; and (b) if the final figure is 4 or less, it must be disregarded.