The Taxberg
$1,587
Net pay
$58
Tax the employer pays
$336
Tax you pay
Total tax paid
$394
Did you know your employer also pays tax on your salary? It costs the employer $58 to pay you $1,923. In other words, every time you spend $10 of your hard-earned money, $2.05 goes to the government.
Real tax rate
19.9%
So, with you and the employer both paying tax, what used to be a 17.5% tax rate now rises to 19.9%, meaning your real tax rate is actually 2.4% higher than what it seemed at first.