Summary
If you make $50,988,708 a year living in Australia, you will be taxed $23,935,360. That means that your net pay will be $27,053,348 per year, or $2,254,446 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.