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GrowThenDraw Updated for 2026-27

Investment Withdrawal Calculator — Australia

Sell a slice each month, live on the proceeds — and see what's left after the discount, your marginal rate and the Medicare levy.

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

Your plan

Tip: set this to your inflation assumption (~2.5%) to keep your withdrawals' buying power constant.

9% — ASX 200 long-run average, editable

The discounted gain (50% discount for assets held over 12 months) stacks on top of this at marginal rates plus the 2% Medicare levy.

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)
$2,292
Lasts all 30 years with money left over
Total received (net)
$781,043
Total tax
$118,957
Ending balance
$2,754,103

The most this plan can sustain for the full 30 years: $3,993/month before tax.

$1.4M$2.8MYear 1: balance $515,400, net income $27,504Year 2: balance $532,245, net income $27,307Year 3: balance $550,669, net income $27,126Year 4: balance $570,822, net income $26,961Year 5: balance $592,866, net income $26,810Year 6: balance $616,977, net income $26,672Year 7: balance $643,351, net income $26,545Year 8: balance $672,198, net income $26,430Year 9: balance $703,751, net income $26,325Year 10: balance $738,264, net income $26,228Year 11: balance $776,015, net income $26,140Year 12: balance $817,307, net income $26,059Year 13: balance $862,473, net income $25,986Year 14: balance $911,875, net income $25,918Year 15: balance $965,912, net income $25,857Year 16: balance $1,025,018, net income $25,800Year 17: balance $1,089,668, net income $25,749Year 18: balance $1,160,383, net income $25,702Year 19: balance $1,237,731, net income $25,659Year 20: balance $1,322,336, net income $25,619Year 21: balance $1,414,876, net income $25,583Year 22: balance $1,516,098, net income $25,551Year 23: balance $1,626,815, net income $25,520Year 24: balance $1,747,918, net income $25,493Year 25: balance $1,880,381, net income $25,468Year 26: balance $2,025,271, net income $25,445Year 27: balance $2,183,752, net income $25,424Year 28: balance $2,357,099, net income $25,405Year 29: balance $2,546,708, net income $25,387Year 30: balance $2,754,103, net income $25,371Y1Y6Y11Y16Y21Y26Y30
End balance
Received (net): $781,043Tax: $118,957Still invested: $2,754,103
Received (net)TaxStill invested
YearWithdrawnTaxNetEnd balance
1$30,000$2,496$27,504$515,400
2$30,000$2,693$27,307$532,245
3$30,000$2,874$27,126$550,669
4$30,000$3,039$26,961$570,822
5$30,000$3,190$26,810$592,866
6$30,000$3,328$26,672$616,977
7$30,000$3,455$26,545$643,351
8$30,000$3,570$26,430$672,198
9$30,000$3,675$26,325$703,751
10$30,000$3,772$26,228$738,264
11$30,000$3,860$26,140$776,015
12$30,000$3,941$26,059$817,307
13$30,000$4,014$25,986$862,473
14$30,000$4,082$25,918$911,875
15$30,000$4,143$25,857$965,912
16$30,000$4,200$25,800$1,025,018
17$30,000$4,251$25,749$1,089,668
18$30,000$4,298$25,702$1,160,383
19$30,000$4,341$25,659$1,237,731
20$30,000$4,381$25,619$1,322,336
21$30,000$4,417$25,583$1,414,876
22$30,000$4,449$25,551$1,516,098
23$30,000$4,480$25,520$1,626,815
24$30,000$4,507$25,493$1,747,918
25$30,000$4,532$25,468$1,880,381
26$30,000$4,555$25,445$2,025,271
27$30,000$4,576$25,424$2,183,752
28$30,000$4,595$25,405$2,357,099
29$30,000$4,613$25,387$2,546,708
30$30,000$4,629$25,371$2,754,103

What is an SWP?

A systematic withdrawal plan turns a portfolio into a monthly income: you sell a fixed amount every month while the rest stays invested. The two questions that matter are how long the money lasts and what you keep after tax — and in Australia the answer to the second depends heavily on the CGT discount.

How Australian CGT is applied here

Each withdrawal is split into return of your own money (never taxed) and capital gain, using pooled average cost. Because SWP portfolios are built over years, the parcels you sell have almost always been held longer than 12 months, so the calculator applies the 50% CGT discount, adds the discounted gain to your other taxable income across the FY2026-27 marginal brackets, and adds the 2% Medicare levy.

That income-stacking matters: the same gain costs a retiree with little other income far less tax than someone still on a salary. Enter your other taxable income and the calculator does the stacking properly instead of guessing a flat rate.

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. If your withdrawal rate is modest relative to returns, the balance can outlive the projection entirely. Setting the annual increase equal to your inflation assumption keeps your withdrawals' buying power constant.

Related reading

Frequently asked questions

How are SWP withdrawals taxed in Australia?

Only the gain portion of each sale is taxable. For assets held over 12 months, half the gain is exempt (the 50% CGT discount); the other half is added to your taxable income and taxed at your marginal rate plus the 2% Medicare levy. This calculator aggregates gains per financial year and stacks them on the income you enter.

Does the 50% discount always apply?

It requires holding the asset for more than 12 months. In a long-running SWP that's virtually always true for the units being sold, which is the assumption here — but if you started withdrawing within a year of investing, early sales would be taxed on the full gain.

Is the Medicare levy always 2%?

The standard levy is 2% of taxable income. Low-income earners pay a reduced or nil levy and some high earners without private cover pay a surcharge — neither refinement is modelled here, which is noted as a simplification.

Can I model withdrawing from super?

No — super withdrawals follow preservation-age and pension-phase rules that are deliberately out of scope. This calculator models an ordinary investment portfolio outside super.

Tax figures for 2026-27 last verified 3 July 2026 against the official source — how we calculate.

GrowThenDraw does not hold an Australian Financial Services Licence. Any information here is general in nature and does not take into account your objectives, financial situation or needs — consider its appropriateness and seek advice from a licensed adviser before acting.

Relevant bodies in this jurisdiction: ASIC (financial services), ATO (tax).