Huge tax on bonus payment

[TwoWheels]

Hi,
I received a bonus & overtime payment in this months paycheck which was great news as it was the largest payment I have ever taken, I was however stunned by the tax take on it.

Salary 5833
Overtime 2692
Bonus 7500

Total 16025

USC 1152
PRSI 641
Tax 5584

Total 7377

Net Payment 8648

Is this correct?
Any help appreciated, I understand nobody will feel sorry as it is a great paycheck, but could I loose 50% in taxes?

Some points;
This is week 1 in my company.
Tax credit €412
PRSI A1
Tax code N

Married, both earning;
Her - 26k
Me - 70k + 30k Bonus

Thank you in advance.

 

[pinkie123]

I know, I paid over €11k in tax for January. I know can't complain as generous bonus but it is painful that I lost over 50% of it

 

[DB74]

PAYE 40%
PRSI 4%
USC 7%

Total Tax rate = 51%, which kicks in at €33,801

and people think water charges are a rip-off!

 

[emeralds]

Absolutely. 51%.
Husband got mega bonus. Put 50% into pension (which was at least tax free). Which left €40,000. The net payment from that €40,000 was just over €19,500.

 

[44brendan]

Welcome to the real world of the high rate PAYE taxpayer

 

[Conan]

look on the bright side....when Sinn Fein, Socialist Party, Paul Murphy and the Looney Left get into power, you will pay a lot more tax!!!
Remember somebody has to pay so that those protesters in Finglas etc can afford to take the time to harangue the President.