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GrowThenDraw Updated for 2026
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Investment Withdrawal Calculator — Canada

Turn your portfolio into a monthly paycheque — with the 50% inclusion rate and your real marginal rate doing the tax math.

Published by GrowThenDraw Editorial Team · Editorial policy · Methodology & sources

Your plan

Tip: set this to your inflation assumption (~2%) to keep your withdrawals' buying power constant.

8% — TSX Composite long-run average, editable

Federal + provincial rate on your next dollar of income. 50% of each year's gains is taxed at this rate.

Advanced: cost basis

Your total contributions (cost basis). Only the growth above this is taxed as you withdraw.

Net monthly payout, year 1 (after tax)
$2,273
Lasts all 30 years with money left over
Total received (net)
$772,511
Total tax
$127,489
Ending balance
$1,717,127

The most this plan can sustain for the full 30 years: $3,644/month before tax.

$858.6K$1.7MYear 1: balance $510,167, net income $27,281Year 2: balance $521,179, net income $27,087Year 3: balance $533,104, net income $26,908Year 4: balance $546,019, net income $26,743Year 5: balance $560,006, net income $26,590Year 6: balance $575,154, net income $26,449Year 7: balance $591,559, net income $26,319Year 8: balance $609,326, net income $26,199Year 9: balance $628,567, net income $26,088Year 10: balance $649,406, net income $25,985Year 11: balance $671,974, net income $25,890Year 12: balance $696,415, net income $25,803Year 13: balance $722,885, net income $25,722Year 14: balance $751,552, net income $25,648Year 15: balance $782,598, net income $25,579Year 16: balance $816,221, net income $25,516Year 17: balance $852,634, net income $25,457Year 18: balance $892,070, net income $25,403Year 19: balance $934,779, net income $25,353Year 20: balance $981,033, net income $25,306Year 21: balance $1,031,126, net income $25,264Year 22: balance $1,085,377, net income $25,224Year 23: balance $1,144,130, net income $25,188Year 24: balance $1,207,760, net income $25,155Year 25: balance $1,276,672, net income $25,124Year 26: balance $1,351,302, net income $25,095Year 27: balance $1,432,127, net income $25,068Year 28: balance $1,519,661, net income $25,044Year 29: balance $1,614,460, net income $25,022Year 30: balance $1,717,127, net income $25,001Y1Y6Y11Y16Y21Y26Y30
End balance
Received (net): $772,511Tax: $127,489Still invested: $1,717,127
Received (net)TaxStill invested
YearWithdrawnTaxNetEnd balance
1$30,000$2,719$27,281$510,167
2$30,000$2,913$27,087$521,179
3$30,000$3,092$26,908$533,104
4$30,000$3,257$26,743$546,019
5$30,000$3,410$26,590$560,006
6$30,000$3,551$26,449$575,154
7$30,000$3,681$26,319$591,559
8$30,000$3,801$26,199$609,326
9$30,000$3,912$26,088$628,567
10$30,000$4,015$25,985$649,406
11$30,000$4,110$25,890$671,974
12$30,000$4,197$25,803$696,415
13$30,000$4,278$25,722$722,885
14$30,000$4,352$25,648$751,552
15$30,000$4,421$25,579$782,598
16$30,000$4,484$25,516$816,221
17$30,000$4,543$25,457$852,634
18$30,000$4,597$25,403$892,070
19$30,000$4,647$25,353$934,779
20$30,000$4,694$25,306$981,033
21$30,000$4,736$25,264$1,031,126
22$30,000$4,776$25,224$1,085,377
23$30,000$4,812$25,188$1,144,130
24$30,000$4,845$25,155$1,207,760
25$30,000$4,876$25,124$1,276,672
26$30,000$4,905$25,095$1,351,302
27$30,000$4,932$25,068$1,432,127
28$30,000$4,956$25,044$1,519,661
29$30,000$4,978$25,022$1,614,460
30$30,000$4,999$25,001$1,717,127

What is an SWP?

A systematic withdrawal plan turns a portfolio into a monthly paycheque: you sell a fixed amount every month while the rest stays invested. This calculator answers the two questions that matter — how long the money lasts, and what you actually keep after tax — for the three account types Canadians withdraw from.

How Canadian tax is applied here

In a non-registered account, each withdrawal is split into return of your own capital (never taxed) and capital gain, using average cost — exactly how the CRA's adjusted cost base rules work. Half of each year's gains (the 50% inclusion rate) is then taxed at the combined federal-plus-provincial marginal rate you enter. Because provincial rates vary from Alberta to Quebec, you supply that one number and the calculator does the rest.

TFSA withdrawals are entirely tax-free. RRSP/RRIF withdrawals are the opposite: the whole withdrawal is taxable as ordinary income, modelled here at the retirement tax rate you expect.

Reading the depletion chart

Green bars show your projected balance at each year's end; they turn red in the year the portfolio runs out. Setting the annual withdrawal increase equal to your inflation assumption keeps your income's buying power constant through the projection.

Related reading

Frequently asked questions

How are SWP withdrawals taxed in Canada?

It depends on the account. Non-registered: only the gain portion is taxable, 50% of it is included in income at your marginal rate. TFSA: tax-free. RRSP/RRIF: the full withdrawal is taxable as income. This calculator switches the treatment automatically with the account selector.

What marginal rate should I enter?

Your combined federal + provincial rate on the next dollar of income, which depends on your province and income level — commonly somewhere between 25% and 50%. Your latest tax software summary or a provincial rate card gives the exact figure; the result scales linearly, so a rough rate still gives a useful estimate.

What about RRIF minimum withdrawals?

After converting an RRSP to a RRIF (required by the end of the year you turn 71), CRA mandates minimum annual withdrawals by age. This calculator lets you set any withdrawal amount but doesn't enforce the RRIF minimum schedule — check that your plan meets it.

What does "originally invested" mean?

Your adjusted cost base (ACB) — the total you contributed. Under average-cost rules the gain portion of each sale equals the growth share of your portfolio. Your brokerage reports book cost; even an approximate figure beats ignoring tax entirely.

Tax figures for 2026 last verified 3 July 2026 against the official source — how we calculate.

GrowThenDraw is not a registered dealer or adviser in any Canadian jurisdiction. All results are educational estimates only — consult a registered advisor and a tax professional before acting.

Relevant bodies in this jurisdiction: CIRO / provincial securities regulators, CRA (tax).