The respondent sought to vary child support orders made by the Hong Kong court, alleging a material change in circumstances following his termination from employment.
The applicant opposed the variation and sought to impute income to the respondent based on his failure to disclose and his underutilization of substantial capital assets.
The court found a material change in circumstances warranting variation but declined retroactive relief.
The court imputed employment income of $67,500 annually and notional investment income at 2% on the respondent's capital.
For 2014-2015, the court averaged the respondent's income at $438,205 annually (including undeclared foreign exchange gains), resulting in table support of $5,297 monthly plus 70% of private school fees.
For 2016 onward, support was reduced to $1,493 monthly based on imputed income of $106,804 annually.
The court ordered security for future support payments and dismissed the respondent's request for an order directing the children to attend public school.