The Taxberg
$1,561
Net pay
$63
Tax the employer pays
$554
Tax you pay
Total tax paid
$618
Did you know your employer also pays tax on your salary? It costs the employer $63 to pay you $2,115. In other words, every time you spend $10 of your hard-earned money, $2.92 goes to the government.
Real tax rate
28.3%
So, with you and the employer both paying tax, what used to be a 26.2% tax rate now rises to 28.3%, meaning your real tax rate is actually 2.1% higher than what it seemed at first.