You would only end up wealthier if you sold your home and did not want to buy another. In the meantime you pay more rates because of the rise in property values. If you are a buyer then you would not be dancing in the streets. The "taxes" (stamp duty) will also be higher and a burden if you are a buyer. At the moment I am a seller and a buyer and I have to allow over $100,000 to cover stamp duty and commission.
Bracket creep will ensure you pay more tax and not less tax. Same for electricity.
That's right, your ALP is making me POORER.
You would only end up wealthier if you sold your home and did...
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