Overseas income and estimating
Overseas income and estimating for child support
Most paying parents living overseas will receive an annual letter asking them to supply their income details so they can be correctly assessed for the next child support year. For example, these letters were sent out in October 2003 to request information for the child support year starting 1 April 2004.
If you have chosen to estimate your income, there are a couple of points that you need to be aware of:
- If you make your estimation before the start of the child support year it will not be shown in your assessment until after 1 April. This is because we convert the income figure you give into $NZ using the exchange rate for 1 April. For example, if you estimate your income for the child support year 1 April 2004 to 31 March 2005, your estimate amount will be converted into $NZ using the exchange rate for 1 April 2004.
- This means that in February/March you will receive an assessment based on the income details we hold for you (that you have supplied or we already hold). You can expect to receive the assessment based on your estimation after 1 April (which is when we can obtain the exchange rate figure we need to update your estimation) but well before the first payment is due.
Date published: 14 Oct 2004
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