surtax
/'sə:tæks/
Học thuậtThân thiện
Definition
Noun:
- An additional tax imposed on certain types of income or goods, calculated on top of an existing base tax. It is often used as a progressive tax mechanism or a levy on specific, often luxury, items.
Verb:
- To impose an extra tax on something.
Usage and Examples
Noun:
- The government introduced a 10% surtax on annual incomes exceeding one million dollars.
- Revenue from the import surtax will be used to fund infrastructure projects.
Verb:
- The new law will surtax high-value real estate transactions.
- The proposal aims to surtax sugary drinks to discourage consumption.
Advanced Usage
"to be subject to a surtax": to be liable for an additional tax.
- Investment income above a certain threshold is subject to a surtax.
"surtax exemption": a provision that excludes certain items or income levels from the additional tax.
- Basic food items have a surtax exemption.
Variants and Related Words
Surtaxable (adj): Capable of being subjected to a surtax.
- Surtaxable income includes dividends and interest.
Overtax (v): To tax too heavily. (Note: This is a related but distinct concept implying excessive taxation, not necessarily an additional layer.)
Synonyms
- Surcharge (n/v): An extra charge or tax.
- Levy (n/v): An imposed tax or fee.
- Additional tax (n): A supplementary tax.
Antonyms
- Tax break (n): A reduction in tax liability.
- Exemption (n): Freedom from being taxed.
- Deduction (n): An amount subtracted from taxable income.
Related Phrases and Idioms
"War surtax": A historical term for an extra tax levied to finance a war.
- The war surtax was repealed after the conflict ended.
"Luxury surtax": An additional tax applied specifically to luxury goods.
- The luxury surtax applies to cars valued over $80,000.
Noun
- an additional tax on certain kinds of income that has already been taxed
Verb
- levy an extra tax on
- surtax luxury items that cost more than $1,000