overtax
/əʊvəˈtaks
/verb [with object]
1Require to pay too much tax: the UK is not overtaxed compared to other countries...
- But the fact that there were no credits applying meant they were often overtaxed compared with people taxed at 33 percent.
- There is a theory in Economics called the Philips curve, which states that, if you overtax a nation beyond a certain point, the actual tax revenue will decline, as taxpayers will build up a resistance and compliance will decline rapidly.
- He says that we are overtaxed compared to Australia.
2Make excessive demands on (a person’s strength, abilities, etc.): do athletes overtax their hearts?...
- During Operation DESERT STORM, mass surrenders of enemy troops overtaxed the coalition's ability to provide medical services.
- I note that you mercifully didn't choose to overtax our abilities by describing this power rating as ‘four 50-watt domestic lightbulbs’.
- For this purpose disasters can be defined as external events that seriously overtax the ability of individuals and their communities to respond with the resources available.
Derivatives
overtaxation
- As a guarantee against overtaxation, the State makes a standing offer to buy back the land for its real market value at the reference date.
- To deal with this concern, I propose to legislate so that specified superannuation contribution withholding tax is calculated only on an employee's salary or wages, thereby eliminating the potential for overtaxation.
- For those MPs who have done the mental arithmetic, that is $3,500 of overtaxation per worker in New Zealand.