The engine at full depthdraft

Draft, not signed off

This page was assembled from the code rather than written from memory, and it is waiting on Christoph's sign-off as licensee. Read the parity paragraph under "The checks behind the numbers" most closely. It compares two separate calculation engines, and it describes the state today, part way through a rebuild.

The calculator on this site is a browser copy of the engine this practice has used in its own work for some time. The calculator reads no market data of its own: the site hands the calculator the data files, the calculator computes, and the page draws the result. This page lists what the calculator holds, what it charges, how it taxes, how it picks its windows, and how many checks stand behind the calculator.

The seven asset classes used in this calculator
The data series
The fee layers
Super accumulation
Pension accounts
Accounts outside super
Franking and the income split
The two capital gains regimes
Today's dollars
The window rules
Term deposits
The checks behind the numbers
The limits of the engine

The seven asset classes used in this calculator

Class	In the code	Income assumption for the tax split	Fund fee the site applies
Australian sharesgrowth	AusEq	4.0% a year of the balance, 77% of it franked at a 30% company rate from FY1988	0.053%mean of VAS 0.07, A200 0.04, IOZ 0.05
International sharesgrowth	IntEq	2.5% a year, unfranked	0.117%mean of VGS 0.18, BGBL 0.08, IWLD 0.09
US sharesgrowth, optional	USEq	1.5% a year, unfranked	0.035%mean of VTS 0.03, IVV 0.04
Australian listed propertygrowth, optional	AusProp	5.0% a year, split five ways for tax. See "The A-REIT distribution" below	0.230%VAP 0.23
Australian bondsdefensive	AusFI	the financial year's average 10 year government bond yield, from its own series, plus the credit premium. See "The credit premium on the bond sleeve" below	0.130%mean of VAF 0.10, IAF 0.10, OZBD 0.19
Cashdefensive	Cash	the whole return is income, unfranked	0.125%mean of AAA 0.18, BILL 0.07
Term depositsdefensive	TermDep	the whole return is income, unfranked	none. A term deposit is money with a bank, not a fund, so there is no management cost to subtract and the flat fee override doesn't reach it

Fund names appear here as the basis of a fee assumption, not as recommendations.

The splits inside the mix

Cash has a floor set as a share of the whole portfolio: 3% in super accumulation and outside super, 8% in a pension account. The floor caps the growth share at whatever it leaves.
What is left after growth and the cash floor is the defensive block. It splits three ways: bonds take the share the user sets, term deposits take the share the user sets, and cash takes the remainder on top of its floor. Bonds hold all of it unless the user makes any changes.
The growth block is split 45% Australian shares to 55% international by default, and the user can edit that split.
The engine holds the weights constant, so the portfolio rebalances once a financial year by construction. No buying or selling costs or capital gains are included as a result of the rebalancing.

The data series

23 data series are in use today. The engine reads 21 of them, and the other two supply figures quoted elsewhere in this section without reaching a calculation. The full register is on the data and licences page. Each entry there gives the publisher's own terms and the source line the series has to carry.

Series the engine reads

Series	Publisher	What the engine does with it
Asset class total returns, as published	Vanguard Investments Australia	the financial year returns for shares and property, in data/fy_returns_full.csv, 56 financial years from FY1971 to FY2026
Asset class total returns, the underlying compilation	Andex Charts Pty Ltd	the same numbers, one step upstream. Recorded separately because the compilation and the publication carry different terms
S&P/ASX accumulation indices and the S&P 500	S&P Dow Jones Indices LLC	the indices underneath the Australian and US share returns
MSCI World ex-Australia	MSCI Inc.	the index underneath the international share returns
Bloomberg AusBond Composite and Bank Bill indices	Bloomberg Index Services Limited	the indices underneath the incumbent bond and cash returns. This practice has built free substitutes for both from Reserve Bank data, so this dependency can be dropped
124 year Australian share return table	Fintech Equity Pty Ltd	the Australian share years before FY1971, in data/fy_returns_extended.csv, FY1951 onward. The same file carries the bond and cash years of that era, and the rebuilt Reserve Bank series are built to take those over
Australian government bond yields, table F2	Reserve Bank of Australia	the 10 year yield that sets the bond income assumption, in data/bond_yield_fy.csv. It is also the input to the rebuilt bond return series
Historical interest rates and bond yields	Reserve Bank of Australia, Occasional Paper 8	the bond yields before FY1970, in data/bond_yield_fy_extended.csv
Term deposit and retail deposit rates, table F4	Reserve Bank of Australia	the published one year term deposit rate, which is what the term deposit series is built from
Term deposit rates, rolling one year	In Your Interest Financial Planning, computed from Reserve Bank data	the term deposit return for each financial year, in data/term_deposit_rates_fy.csv, FY1983 to FY2026
Consumer price index	Australian Bureau of Statistics, through Reserve Bank table G1	the actual inflation rate for each financial year, in data/cpi_fy.csv, FY1923 onward. This is the one series that reaches every figure on the site
Lifestage glide paths	Australian Prudential Regulation Authority, Quarterly MySuper Statistics, Table 1b	the growth share by age of the published MySuper lifecycle products, reduced to five anonymous percentile curves in data/lifestage_glide_paths.json, read only when a visitor ticks the lifestage strategy on tab 8
Dwelling prices	OECD analytical house price indicators, Australia, from ABS sources	the nominal house price index averaged over each financial year, FY1971 to FY2025, in data/dwelling_price_fy.csv, the home's value path in rent or buy
Rents	Australian Bureau of Statistics, Consumer Price Index, Rents expenditure class, weighted average of eight capital cities	the rent index averaged over each financial year, FY1973 to FY2025, in data/rent_index_fy.csv, the rent path in rent or buy
Earnings by qualification	Australian Bureau of Statistics, Employee Earnings, August 2025	the level of the career-paths tab's wage profiles (a bachelor degree about 1.70 times, a certificate about 1.40 times no post-school qualification), in data/earnings_paths.json
Income by age	Australian Bureau of Statistics, Personal Income in Australia, 2022-23	the shape by age of the same wage profiles; the cross of the two is a construction the assumptions page names
Housing loan rate	Reserve Bank of Australia, Statistical Table F5, series FILRHLBVS	the banks' standard variable owner-occupier rate averaged over each financial year, in data/housing_rate_fy.csv, the loan rate of tab 8's SMSF property scenario plus its margin
Housing rates actually paid	Reserve Bank of Australia, Statistical Table F6, from APRA's Economic and Financial Statistics	the owner-occupier variable rate on outstanding loans from July 2019, the source of the discount schedule's recent years in data/mortgage_discount_fy.csv, which the mortgage decision reads
Wage growth by financial year	Australian Bureau of Statistics (Average Weekly Earnings, 6302.0), with the years before FY1983 from the ABS data the Reserve Bank compiled in Occasional Paper 8	each financial year's growth in average weekly ordinary time earnings, in data/awote_fy.csv, FY1971 onward, read only when a visitor chooses "Wage growth (AWOTE)" as the contribution growth; the method and the splice are in data/AWOTE_SERIES.md
Tax rules, rates and thresholds	Australian Taxation Office	the rates, caps, and thresholds in the tax section that follows
Legislation	Office of Parliamentary Counsel, Federal Register of Legislation	the primary text behind the same rules, and the pension minimum drawdown factors

Series quoted but not calculated with

Neither of these two series reaches a number the engine produces. They are on the register because they are in use. They are on this page so the user can see where the figures on the other pages came from.

Series	Publisher	Where it appears
SPIVA Australia Scorecard figures	S&P Dow Jones Indices LLC	the share of active funds that trailed their index, on the active and passive page. That page is reached from the professionals section and is deliberately not linked from here: the scorecard is published for institutions only
Australia Persistence Scorecard figures	S&P Dow Jones Indices LLC	how rarely a top quarter fund stayed there, on the same page

The fee layers

The calculator engine includes four types of costs and tax treatments differ depending on the type of account (investment, super, pension). It charges every layer on the average of the opening balance and the pre-fee closing balance. A year that grows is therefore charged on something between the two.

Layer	Default	How the tax treats it
Fund fee, per class	the per-class figures in the preceding class table	no credit and no deduction inside super, either kind of super. Deductible at the marginal rate outside super. Subtracted from the gross index return, because the return series is before fees
Advice cost	1.0% a year before goods and services tax (GST), so 1.1% with it; selectable at 0.9, 1.0, 1.1, or 1.2, or turned off	advice costs receive a tax credit of 15% as they count as an expense to the superannuation fund. No credit in a pension. Outside super this tool deducts none of it, because only the part of the advice costs that relates to tax advice is deductible and the tool doesn't guess at a split
Platform fee	0.25% a year before GST, so 0.275% with it	the same 15% credit in super accumulation, no credit in a pension, deductible at the marginal rate outside super
Fixed amount in dollars	none by default	held in start-year dollars and indexed along the same inflation path as everything else in the window. Super accounts only: it gets the 15% credit in accumulation, none in a pension, and outside super nothing is charged at all

The engine applies 10% GST to the advice cost and the platform fee, and to nothing else. The code holds that as a factor of 1.10.

Super accumulation

Investment income is taxed at 15% on the grossed-up amount, which includes the franking credits, and the credits are then subtracted from the tax as an offset. Where the net tax is positive, it is then reduced by a credit worth 15% of that tax, which brings the effective rate to 12.75%. Where franking credits exceed the tax, the excess passes through as a refund.
The contribution is treated as a before-tax (concessional) contribution and is taxed 15% on the way in.
It is capped at $32,500 a year in start-year dollars, indexed along the window's own inflation path. If the contributions entered are above the yearly cap, the calculator uses the cap instead.
Division 293, the extra 15% for high earners, is optional. With it on and no income entered, the whole 30% applies to every concessional contribution. With a taxable income entered, the extra 15% applies only to the part of the contribution that, added to that income, passes the $250,000 threshold. The threshold is fixed by default, and the user can set it to rise with inflation or at a chosen rate.

Pension accounts

A pension account pays no tax on investment income, and franking credits are refunded in full.
Statutory minimum drawdowns are paid out and counted in the result, at the age-based rate on the opening balance, mid-year on average: 4% under 65, 5% at 65 to 74, 6% at 75 to 79, 7% at 80 to 84, 9% at 85 to 89, 11% at 90 to 94, and 14% from 95.
The engine adds no contributions in a pension account.

Accounts outside super

The marginal rate selected applies to the grossed-up income, which includes the franking credits, and the credits are then subtracted from the tax as an offset.
The rate that applies at a sale is set separately from the ongoing rate, because the year of a sale is often not a typical year.
The engine charges no fixed dollar costs outside super.

Franking and the income split

Each class has an assumed cash income yield, in the preceding class table. That assumption splits a total return into the part that is taxed each year and the part that is not. Of the Australian share income, 77% is treated as franked at a company rate of 30%, from FY1988 onward, which is the first full year of imputation. Before that year the credit is zero.

The A-REIT distribution

Australian listed property is the one class whose income is not a single kind of income. An A-REIT is a trust, and a trust pays no company tax, so most of what it distributes has never been through a company tax return. The engine splits the distribution five ways rather than taxing all of it at the marginal rate.

Component	Share	How the engine taxes it
Ordinary incomenet rent, interest, unfranked dividends	44.3%	assessable in full
Capital gains distributed	46.7%	assessable at half outside super and two thirds inside it, which is the CGT discount each account type receives
Franked dividends	4.3%	assessable in full, and it carries the credits below
Foreign income	4.3%	assessable in full. The foreign income tax offset the notices report is not modelled
Not assessable	0.4%	not taxed, and not deducted from the cost base either. See the note on tax-deferred amounts below
Franking creditsattributed on top of the cash	2.25%	of the cash distribution, from FY1988 like every other credit here. Given as a share of the cash rather than as 30/70 of the franked line, because the credits the notices report do not sit at 30/70 of it

The five shares are shares of the cash distribution and add to all of it. They are cash-weighted over the nine financial years FY2018 to FY2026, from Vanguard's own quarterly distribution tax estimate notices for its Australian Property Securities Index ETF, all 36 of them read directly. The year-to-year range is wide: the capital gains share alone ran from 6.5% to 73.2% over those nine years, so the split describes a long run and not any single year.

Three things follow that are worth stating rather than leaving to be inferred.

Distributed gains are taxed in the year they arrive. They are gains the trust realised and paid out, so they are assessable on receipt. They do not touch the disposal machinery in the next section, and they are not added to the cost base as a gain.
The annual treatment follows current law, not the 2027 rules. Under the 2027 rules the discount is abolished, so the same distributed gain would be assessable in full. The engine applies the current law's discount to the annual figure, because the annual income tax feeds the balance and the two disposal regimes are computed off that one balance. A regime-dependent balance would leave the two capital gains figures in the next section measuring two different portfolios instead of one portfolio under two exit taxes.
Tax-deferred amounts are treated as zero. A tax-deferred distribution is not assessable on receipt and reduces the cost base of the units instead. The engine carries no such adjustment. Vanguard reported tax-deferred as exactly zero in all twenty quarters for which it reports the line, and the whole non-assessable component is 0.4% of the record, so the cash is left in the cost base and the assumption is stated here instead.

The default growth block holds no A-REIT weight, so this split reaches a figure only where the user builds a growth mix that includes listed property.

The credit premium on the bond sleeve

The bond series is government bonds. The index it stands in for, the standard Australian bond index, is 90.6% government and government-related and about 9% corporate, and that corporate slice is worth extra yield. The engine adds it as one number the user can set, rather than building it into the series.

The default is 0.1% a year and it APPLIES BY DEFAULT, so every portfolio holding bonds carries it unless the user turns it off. The range is 0 to 1.0% a year, and setting it to zero gives government bonds on their own.
Three independent measures put the credit content of that index at about 0.1 percentage points a year: realised fund returns against a government-only fund with the duration difference taken out, forward yields to maturity with the same adjustment, and Reserve Bank spread arithmetic applied to the index's own corporate weight. About 0.5% models a deliberately corporate-tilted holding such as a credit fund.
The premium is added to the bond weight's share of the year's return, and to the bond income the tax split works on, because extra yield is assessable. A premium that raised the return without raising the tax would overstate the after-tax result.
It is added evenly every year, which is right on average and wrong in shape. Real credit spreads widen when markets are stressed. In FY2022, the worst year for Australian bonds in the record, corporate bonds lost more than government bonds once their shorter maturities are allowed for. The control's own text says so.
For that reason the premium is deliberately left OUT of the stress test's monthly fall detection. A constant addition would make a fall look shallower in exactly the year the evidence says credit made it worse, so the fall detection and the sale-year return it produces stay on the market's own monthly numbers. The held run either side of that comparison does carry the premium, because it is an annual figure.

The two capital gains regimes

The engine doesn't model capital gains tax year by year for shares, because an index fund distributes almost no realised gains. Australian listed property is the exception, and it is handled as income in the section above rather than here, because those gains are distributed rather than realised on a sale. What this section covers is the tax at disposal, for accounts outside super only, and the engine computes it twice: once under the current law and once under the 2027 rules. Both runs use the same cost-base layers, one per financial year, and each layer is that year's contribution plus the net income reinvested in it.

	Current law	2027 rules
The gain	sale value less the cost base as it stands	sale value less a cost base with every layer indexed by inflation from its own financial year to the sale
The discount	50% on every layer held more than twelve months. The final year's addition is under twelve months old and is taxed undiscounted	none
The rate	the rate at sale selected	the rate at sale, or 30%, whichever is higher. The minimum applies at every marginal rate
A loss	no tax, and no refund implied	no tax. Indexation cannot create a loss or make one bigger

The engine applies the same two regimes to a panic sale part way through a window, on the view that shows what selling out cost, so the comparison between selling and holding carries its tax with it.

Today's dollars

Inflation enters the engine in exactly one place. A running deflator starts at 1.0, and at the end of each financial year the engine multiplies it by one plus that year's inflation. If an inflation rate is chosen, the engine uses it; otherwise it uses the published rate for that financial year.

A figure in today's dollars is the figure in that year's dollars divided by the deflator at the end of that year. A flow that arrives mid-year is deflated by the deflator at the end of its own financial year, not by an average.
Every chart opens in the dollars actually in the account, and a switch on each chart restates everything in today's dollars. Switching it changes the display and nothing else: the tax and contribution rules stay as they were.
Set inflation to zero and the deflator stays at exactly 1.0, so the before-inflation and after-inflation figures are identical to the last bit rather than merely close, across 18,809 checked pairs.

The window rules

The tool replays history rather than simulating it. It holds the mix the user sets through every stretch of history the data can cover, and it reports one result per starting year.

The engine offers a starting year only if every financial year in the window carries a figure for every class the mix holds. A mix that holds no term deposits is not restricted by the term deposit series, and a mix that holds them is.
The engine doesn't offer a window that would run past the last financial year in the data. It never extrapolates, projects, or fills in a missing year.
Where a figure is missing, the engine refuses the window rather than treating the gap as a zero return.
The engine then sorts the windows by outcome. With an even number of windows, it reports the upper of the two middle ones as the median.

Term deposits

Term deposits work differently from everything else the engine holds, because the year's locked rate is the year's return.

One deposit opens each 1 July for twelve months, at the one year rate published for the end of the June before. It is held to maturity, then rolled at whatever rate is published then. The rate locks before the year starts.
A term deposit never marks to market. It has no capital leg to add, so it still earns its rate in a year when bond prices fall.
The whole return is interest and is taxed in full: 15% in super accumulation, nil in a pension, the marginal rate outside super. There are no franking credits, so nothing is refunded or offset.
A term deposit carries no fund fee.
The series starts at FY1983. The published one year rate begins in December 1981, so 30 June 1982 is the first end-of-June rate that the calculator engine starts with.
The engine doesn't model illiquidity, holding an old rate while market rates move, or break costs. Those three matter if the money might be needed before the term ends.

The checks behind the numbers

Draft, and the parity claim is Christoph's to own

The same calculation exists in two places: this browser engine, and the desktop tooling this practice uses in its own work. A fixed file of results sits beside the code, and the browser engine runs against it. That is 361,621 checks in all, across 30 scenarios, a per-year grid of 180 windows, and 2,770 sell-out cases. Today 0 of those checks disagree.

That was not so during the rebuild. Between 21 August and 4 September 2026 this engine moved away from the desktop engine five times, each time on purpose and each time recorded here with the count of checks it moved: the 2026 inflation rate finalised from 4.0942% to 3.9419% (2,022 checks); term deposits, which the desktop engine does not hold (none, since the fixed file cannot see them); the A-REIT distribution split of 27 August (2,468, all in the one scenario holding listed property); the credit premium on the bond sleeve of the same day, which reached every scenario holding a bond (100,982); and the contribution caps of 4 September, indexed to wages and rounded down to a step as the law has them (18,592). Those four counts add to the 124,064 disagreements this page reported on 4 September. On 5 September the desktop engine took on all of them except term deposits, which stay outside the fixed file and are checked against their own rules instead (233 checks, all passing); the fixed file was re-derived from the reconciled desktop engine; and the shared default-path fixture, which neither engine owns, was re-locked only after both engines matched the proposed file to the cent. Every one of the five had been attributed the same way before it was reconciled: put the old value back and the checks it moved agreed again exactly.

The reconciliation was the condition for this site going live, and it has passed. A future change to either engine is expected to move the fixed file again; the rule from here is that the two agree before a change ships, or this paragraph says what disagrees and why.

Suite	Checks	What it holds
tests/run_default_path.mjs	2,426	the shared fixture, which neither language owns. Three account types, the site's own first-load inputs, every valid 25 year window
tests/run_golden.mjs	359,195	the expanded grid: ending balances, contributions, tax paid, both capital gains regimes, money-weighted returns, the before-inflation pair, and every sell-out case
tests/check_term_deposits.mjs	233	term deposits: that the default is unchanged, that the sleeve computes, and that a window the series cannot cover is refused
tests/check_areit_and_credit.mjs	123	the A-REIT distribution split and the credit premium on the bond sleeve: that the split is a split, that the default mix cannot see it, and that each parameter moves a figure in the direction and by the amount the research behind it measured
tests/check_moves.mjs	280	the three moves of tab 7: that every new engine option is inert by default to the last bit, that never restoring the mix matches a hand stepper, that the chase rule looks at no future year and its extra cost is charged as a fund cost, that a cash sit which never ends is the stress test's own sold run, and that the figures at a zero credit premium reproduce the research brief the exhibit was planned on
tests/check_events.mjs	91	the life-events path of tab 8: that an empty path changes nothing to the last bit, that a lump leaving the account at a given age does what it says and taxes the gain outside super, that a contribution scale removes exactly the years it names, that a constant glide path is the plain run and a falling one is not, and that events combine and bad ones are refused
tests/check_careers.mjs	22	the career paths' income rules: the university and apprentice incomes by age, the year the apprentice's income reaches its multiple, the retraining stages (a stage dated before the study ends waits for it; no study years is a straight step), and the guarantee's excess over the concessional cap
tests/check_rentbuy.mjs	25	rent or buy: a constant-rate loan amortises to nothing over its term and its repayments match the annuity, the two households share the same money, a higher yield means more rent and less invested, and uncovered stretches and bad inputs are refused
tests/check_mortgage.mjs	61	the mortgage decision's three arms: a constant-rate paydown matches its closed form, a visitor's own discount sets the rate, a small loan clears and the surplus goes outside, the super and outside arms are ordinary runWindow scenarios, and uncovered years and bad inputs are refused
tests/check_property.mjs	49	the SMSF property leg of tab 8: the deposit leaves and the price and loan follow the LVR, running costs are charged empty or not, empty months lower the end, a long vacancy at a high LVR makes the member top up and, with the forced sale on, sells the property at the haircut, and the leg is refused outside super accumulation, without the loan-rate series, and with a drifting mix
tests/check_loanrate.mjs	24	investing against a loan rate, and the sell-out decision's own count: the loan side compounds at the rate exactly, a yearly amount matches its closed form, the invested side is an ordinary personal run after capital gains tax, a higher rate is beaten less often, the exhibit is refused inside super, and a package with nothing added to it finishes below one that is added to
tests/check_deploy.mjs	37	a lump sum at once or spread over several years: every arm puts in the same lump plus the interest the waiting money earned, that interest is the year's cash return after tax and nothing else, a spread arm rebuilt by hand matches to the last bit, a lump on day one equals an opening balance, the two kinds of lump are told apart, both ways won somewhere in the history, and a pension account is refused
tests/check_clock.mjs	27	the savings clock: one entry per length of stretch, every valid stretch run and only those, each entry the ordinary run of that stretch, a shorter length has at least as many stretches, saving for longer came to more at the median, the configuration says no house-price series feeds it, and a pension account is refused
tests/check_cgt2027.mjs	40	the 2027 capital gains change, pinned to the reading of the Act: with no inflation the 2027 rules tax the whole gain at the higher of the marginal rate and 30%, the floor bites at 19% and not at 45%, indexation lowers the tax below the flat figure, a loss pays nothing under either rule set, the funds carry no individual capital gains tax, the register carries the Act under its own name with the assent date, and the tab is gated until the reading is signed
tests/check_catchup.mjs	29	unused cap space used before a release age, the money then paid onto the loan: the take-home given up is the before-tax amount less the marginal rate, no space leaves the three arms the same run, more space widens the advantage over investing outside super, a balance above the limit cannot use the space at all, and the two ways of counting the loan differ by the starting loan and nothing else
tests/check_splitting.mjs	31	splitting contributions to an older partner: with nothing else changed the two arms are equal to the dollar, the concessional cap binds before the split so a couple cannot use two caps, a second account pays its own fixed cost, and starting a pension moves money out of super where its earnings are taxed at the marginal rate
tests/check_recycling.mjs	61	pension payments put back into super: a household that spends every payment leaves the two arms the same run, recycling leaves more inside super and less outside, the second account is merged at the end of the year it reaches the balance set, nothing goes back in after the age limit or above the cap and the rest is saved outside, and the tax-free proportion and the death benefits tax follow from the components
tests/check_scenario_panel.mjs	28	the Your Scenario panel's rules: each structure reads back as itself and the site defaults as the adviser structure, the SMSF keeps the platform cost, any hand change reads as custom, and a wage becomes a contribution at the guarantee rate
tests/check_site.mjs	1,134	not the engine: the pages against the data files, so a figure in the copy cannot drift from the figure in the code. This page is on that list

Money is checked to the cent and rates to eleven decimal places. A check is one number in one window in one scenario, so the count runs to hundreds of thousands rather than dozens.

The limits of the engine

These are the limitations of the calculator:

The engine replays history. It doesn't forecast.
Returns are index returns less the fund fee. The engine makes no allowance for tracking difference, brokerage, spreads, or the cost of moving money.
Capital gains tax is not modelled along the way, and is modelled at disposal for accounts outside super only, as many super accumulation accounts are converted to tax-free allocated pension accounts.
Tax is at the account level. The engine holds no other income, offsets, deductions, losses carried forward, or family circumstances.
The income split per class is an assumption, not a series.
The engine applies today's rules across the whole of history. A window starting in 1971 is taxed under 2026 rules, apart from franking, which starts when imputation did.

About

Built by In Your Interest Financial Planning. In Your Interest Financial Planning Pty Ltd, ABN 28 094 300 464 is Authorised Rep. No 308161 of Fiduciary Duty Advisers Pty Ltd AFSL No 527434. Nothing on this page is advice to you or to your clients. Corrections are welcome and very much appreciated – contact us.