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@evh What you have there is an unrealised capital gain. It's going to be taxed at your marginal tax rate when you do eventually close the position. For a true comparison, you need to assume the investment would be taxed in the same period - because it has at least incurred that tax during that...

@evh If you earn 10% on $1000, it's $100. But at the highest tax rate, you only get to keep $53 - the other $47 goes to the tax man. If you save 6% on $1000 in your mortgage, it's $60 interest you don't have to pay. Plus, because it's not income, there is no tax to pay. Plus, you get ahead on...

@ericph Don't ignore the super part if you were a contractor! Often contractors are entitled to the Super Guarantee as if they are an employee. Chase them up for lost earnings too, if it hasn't been paid - but the ATO may well do that for you.