SO you thought you were paying a lot of tax.

Thank yourself lucky you're not living in France where thousands of high earners have been handed a tax bill that exceeded 100 per cent of their income.

The massive tax bill came in a one-off tax levy imposed by the French government on incomes for households with assets of more than 1.3 million euros ($1.71 million).

The tax surcharge related to 2011 earnings and led to over 8000 households paying more than 100 per cent tax, according to Reuters.

The surcharge was introduced by left wing president Francois Hollande when he took office last year. It was meant to offset a rebate brought in by the previous government that capped individual tax liability at 50 per cent of income.

Hollande was voted into office on a pledge of increasing taxes on the rich. However, his government has had to redraft legislation aimed at imposing 75 per cent tax on earnings over 1 million euros, an earlier campaign promise.

The French Constitutional Council decided this high level of taxation was unfair. The government has now redrafted its bill to hit companies rather than individuals, the news agency reported.