Summary
If you make $50,499,980 a year living in Australia, you will be taxed $23,705,658. That means that your net pay will be $26,794,322 per year, or $2,232,860 per month. Your average tax rate is 46.9% and your marginal tax rate is 47.0%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $47, hence, your net pay will only increase by $53.
Bonus Example
A $1,000 bonus will generate an extra $530 of net incomes. A $5,000 bonus will generate an extra $2,650 of net incomes.