Elections 5 April 2012 How much will Boris make from the 50p tax cut? Johnson's tax return shows that he will make around £16,164 from the move. Print HTML Now Boris Johnson has published his tax return, we can work out exactly how much he'll make from the abolition of the 50p rate. Total earnings of £473,280 in 2010-11 (£339,625 of which came from freelance work) mean that Johnson can expect to make around £16,164 from the reduction in the top rate to 45p. Evidence, perhaps, of why the mayor has consistently lobbied against the 50p rate, once comparing it to "Stalin's assault on the kulaks". › How much tax do Ken and Boris pay? Mayor of London Boris Johnson. Photograph: Getty Images. George Eaton is political editor of the New Statesman. Subscribe More Related articles Metro mayors can help Labour return to government How the Brexit referendum has infantilised British politics Vote Leave have won two referendums. Can they win a third?