Home P&I mortgage reduces monthly. IP fixed at starting balance (interest-only) until sold. Super balances shown after growth, contributions, and drawdowns.
Draw rate shows actual rate used; (X% req) = ATO legislated minimum for that age. If your rate is below the minimum, the minimum is applied automatically. Gross incomes shown with PAYG tax (ATO 2024–25 rates) deducted. Super drawdown tax-free after 60. Dividends taxed at marginal rate. Age Pension from age 67 — indicative only.
⚠️ Age Pension estimate — 10 important limitations (click to expand)
- Deeming rates change — set by the Minister, currently low. Any increase reduces pension via income test
- Threshold indexation — assets/income thresholds are indexed variably. This model uses 1.5%/yr which may over or understate
- Gifting rules — assets transferred within 5 years of claim may be counted as assessable (deprivation rules)
- Defined benefit super — assessed differently from account-based pensions
- Overseas income — foreign pensions, offshore rental or investments are assessable and not modelled
- Super phase assumed — model assumes pension phase from age 67; accumulation phase is assessed differently
- Work bonus — a $300/fn work bonus applies before employment income counts after pension age
- Residence rules — 10 years Australian residence required; some periods overseas may not count
- Partner income is joint — one high earner can eliminate pension for both in a couple
- Legislation changes — pension ages, rates and means test rules have changed many times and will again
Use for directional planning only. Contact Services Australia (Centrelink) or a licensed financial adviser for an accurate assessment.
Cost base from Starting Values. Person 1 (90%) / Person 2 (10%). IP balance fixed (interest-only) until sale. 50% CGT discount applies. Sale price auto-calculated from starting IP value at property growth rate.
Drawdown analysis
How much super needs to be drawn each year to fund living costs, based on your current sliders.
Required = (living cost − age pension) ÷ combined super. Shows what % must come from super to fund comfortable retirement. Legislated minimum is the ATO age-banded floor — falling below it risks losing your pension's tax-free status.
Super preservation age 60. Tax-free after 60. Phase 2a: Person 1 draws more (tax-free, already 60+), Person 2 draws less to minimise tax before her 60th. Phase 2b: both tax-free from Person 2's 60th year.
Update these when your balances, values or incomes change. All other calculations update automatically.
These names appear throughout the tool. Change them and all labels update instantly.
Renting with no plan to buy: leave this at 0 or set it beyond your projection horizon. Already living in the property you're buying: set this to the current year or earlier.
Model a salary that changes rather than growing steadily to retirement — e.g. reduced hours as you age. Leave year at 0 to disable a step.
TTR (Transition to Retirement): voluntary super drawdown while still working, once 60+. Tax-free at 60+. ATO caps this at 10%/yr.
Based on ASFA Comfortable Retirement Standard for home-owning couples. Appears as the final column in Cash Flow — shows what you need vs what you have. Grows at CPI annually in nominal terms.
Shares grow at capital growth rate annually. Dividends are paid each year and taxed at each person's marginal income tax rate (outside super). Person 1 owns the entered %, Person 2 owns the remainder. Set to $0 if no share portfolio.
Used for Age Pension means test thresholds. Homeowner thresholds are lower (home equity is excluded from assets test). Couple rates apply combined assets and income.
Each inheritance is split 50/50 into both super funds in the year received and added to the super longevity balance. Note: non-concessional super contributions are capped at $110K/yr ($330K over 3 years under bring-forward rules) — large inheritances may need to be held partially outside super. Set amount to $0 if not applicable.
Changes take effect immediately across all tabs. Loan term remaining is used only if the IP switches to P&I — IP is modelled as interest-only until sale. Home mortgage is P&I with monthly repayment as entered.
Growth rates & drawdown assumptions
Growth & returns
All sliders sync with the Cash Flow sidebar. Changes on either tab update everywhere. Starting values (property prices, balances, incomes) are set in the Starting Values tab.