Why You Feel Poorer Despite Getting a Pay Rise | The Bracket Creep Problem

Every pay rise feels smaller than it should. That's because when your income goes up but the tax brackets don't move, you quietly pay more tax at higher rates. It's called bracket creep, and it's why your pay never quite catches up. Today we run through what your pay rise is really worth after tax, and the one change every other developed country makes that Australia doesn't.