surtax
/ˈsəːtaks
/noun
An additional tax on something already taxed, especially a higher rate of tax on incomes above a certain level: a 10 per cent surtax on incomes of more than $100,000...
- In many states a temporary surtax on personal income taxes is probably the optimal answer, when contingency funds are inadequate and prudent spending reductions have been exhausted.
- The Liberal budget reduced personal income, capital gains and corporate tax rates, and announced the phased elimination of a surtax on higher income Canadians, but it made no mention of the regressive Goods and Services Tax.
- They are supported mainly by transfers - a surtax on West German income that is transferred to the East Germans.
Origin
Late 19th century: from French surtaxe (see sur-1, tax).
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