Overview
If you're a sole trader or contractor on an ABN, your income probably moves around from month to month and year to year. That makes planning feel harder, but the fix is simple: don't plan around one income figure. Plan on a conservative base, then model the good and bad years as changes to it.
1. Pick a conservative base income
Don't use your best year. Take your average over the last 2–3 years and trim it, or just use your weakest recent year. This is the number your plan runs on. Anything above it is upside.
In Canwi: go to Plan → Cash Flow → Income and click Add Income. Choose Other Taxable Income rather than Employment Income, so Canwi doesn't add employer super you won't actually receive. Enter your base income before tax. See Income for what each field does.
2. Model the ups and downs
Treat good and bad years as changes to your base, not as your base:
A lean patch – on your income card, click + Add a change to drop your income for a year or two, then return it to normal.
A one-off big job or windfall – add it as a one-off event (e.g. Receive Money) rather than raising your ongoing income.
3. Compare scenarios
Build at least two versions of your plan with scenarios:
Base – your conservative income, steady.
Bad patch – income down 30–50% for 1–2 years. Does your cash hold up? Would you need to sell anything?
If your plan only works in the good years, it doesn't work yet. Chance of Success can also show how robust your plan is to market ups and downs.