Summary
If you make $12,091,924 a year living in the region of Ontario, Canada, you will be taxed $6,440,155. That means that your net pay will be $5,651,769 per year, or $470,981 per month. Your average tax rate is 53.3% and your marginal tax rate is 53.5%. 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 $53.53, hence, your net pay will only increase by $46.47.
Bonus Example
A $1,000 bonus will generate an extra $465 of net incomes. A $5,000 bonus will generate an extra $2,324 of net incomes.