Definition

1. Noun:
   • An additional tax on certain kinds of income that has already been taxed: A surtax, typically levied on income above a specified high level, on top of the standard income tax.

Usage and Examples

• Noun:
  • The government introduced a supertax on annual incomes exceeding one million dollars.
  • Critics argued the new supertax would discourage investment.
  • The revenue from the supertax was earmarked for public healthcare.

Advanced Usage

• "To levy/impose a supertax": The act of officially placing this additional tax.
  • The administration proposed to levy a supertax on corporate windfall profits.
• "To be subject to supertax": Describing income or entities that must pay this tax.
  • High-earning individuals found their investment income was subject to supertax.

Variants and Related Words

• Surtax (n): A term often used interchangeably with "supertax" to mean an additional tax.
• Progressive tax (n): A tax system where the tax rate increases as the taxable amount increases, of which a supertax can be a component.

Synonyms

• Surtax: An extra tax on something already taxed.
• Additional levy: An extra charge or tax.

Related Phrases

• Wealth tax: A tax based on the market value of owned assets, conceptually related as another form of taxation on accumulated capital.
• Top rate of tax: The highest band in a progressive income tax system, which a supertax may effectively create or supplement.

Noun

1. an additional tax on certain kinds of income that has already been taxed