With the general election approaching, tax proposals could affect how much profit your business retains, the cost of employing staff, and your property and investment decisions. Some parties are promising no new taxes, while others propose changes to company tax, capital gains, land and wealth taxes.
What could this mean for your business?
Property ownership: Labour’s proposed 28% capital gains tax would apply to future gains on commercial and residential investment property, with exemptions and some relief. Other parties propose land and property taxes that could increase ownership costs.
Business profits: Company tax proposals range from reductions for qualifying smaller companies to increases, making your business’s size and structure important.
Cash flow and investment: Changes to asset deductions and GST registration thresholds could affect when you claim expenses and whether you need to register for GST.
Employment costs: Higher or broader employer KiwiSaver contributions could increase your wage bill.
Your personal finances: Income, wealth and inheritance tax proposals could affect your take-home income, assets and business succession plans.
Below, we compare seven parties’ proposals. Our summary reflects announcements reviewed as at 12 October 2026.
Table of Contents
- Comparison Table
- National Party Policies
- Labour Party Policies
- Green Party Policies
- New Zealand First Party Policies
- Te Pāti Māori
- Opportunity Party Policies
- ACT party policies
Tax proposals at a glance
Scroll across to compare all seven parties. The policy column stays visible.
Select a policy area to see what each party proposes.
| Policy area | National | Labour | Green Party | New Zealand First | Te Pāti Māori | Opportunity Party | ACT |
|---|---|---|---|---|---|---|---|
| Company income tax | Commitment to no new taxes. No new company-rate cut identified. | No change to company-rate announced (as at 12 October 2026) | Increase to 33% for companies with annual turnover above $30 million; retain 28% for smaller companies. | Reduce to 20% for companies with annual turnover below $30 million. | Increase from 28% to 33%. Add a 5% “International Profit Transfer Tax” on profits sent offshore. | No change to company-rate announced (as at 12 October 2026). | No new taxes; no broad company-rate cut specified in the fiscal plan. |
| Business investment deductions | Keep Investment Boost (20% immediate deduction), from National’s 47-point small business plan (7 Oct) | Replace Investment Boost with small-business measures. Raise the immediate asset write-off threshold to $10,000 for businesses with annual revenue below $10 million, from July 2027. | No comparable measure identified. | No specific deduction change identified; proposes lower company tax. | None identified. | No specific deduction change identified. | Clarify and modernise deductions for software and digital investment. |
| GST registration | National’s plan commits to reviewing the $60,000 threshold, which hasn’t changed since 2009 | Raise the compulsory registration threshold from $60,000 to $80,000, from July 2028. | No change announced (as at 12 October 2026). | No change announced (as at 12 October 2026). | “No GST on Kai”: a targeted rebate (about 8 weeks of food) for people earning $60,000 or less. GST rate unchanged. | No change announced (as at 12 October 2026). | No change announced (as at 12 October 2026). |
| Property and land taxation | No new taxes commitment. | 28% capital gains tax on residential investment and commercial-property gains accruing from July 2027. Exempt family homes and farms; relief for small businesses moving to larger premises. | Remove residential investment mortgage-interest deductions and restore the 10-year bright-line test. | No comparable proposal identified. | 33% land banking tax; 2% vacant house tax; 5% stamp duty on residential sales (first-home buyers under $1m excluded). No separate CGT. | Annual land value tax, excluding buildings and improvements: 1.75% for residential and commercial land; 0.5% for rural land, with concessions. | No new taxes commitment; no new property or land tax specified. |
| Wealth, inheritances and gifts | No new taxes commitment. | Shares, other business assets, inheritances and gifts are outside its proposed property capital gains tax. | 2.5% annual wealth tax above $10 million per person, excluding the family home. 33% tax on taxable inheritances and gifts above $1 million, with family-home and family-farm exemptions. | No specific proposal identified. | Net wealth tax: 1.5% on $2m–$5m, 2.0% on $5m–$10m, 2.5% above $10m (per person). | Land tax is the principal asset-based measure in its Tax Reset. | No new taxes commitment; no new wealth or inheritance tax specified. |
| Personal income tax and income support | No new personal-rate change announced (as at 12 October 2026). | No new personal-rate change announced (as at 12 October 2026). | First $10,000 tax-free; revised intermediate brackets; 45% marginal rate above $160,000. | No personal income tax change announced (as at 12 October 2026). | No tax on the first $30,000. Then 15% to $60k, 33% to $90k, 39% to $180k, 42% to $300k, and 48% above $300k. | Three personal rates: 28%, 34% and 39%, combined with a Citizen’s Income of approximately $19,400 a year for eligible adults. | No broad income-tax cut. Lower, flatter taxes remain a future objective. Additional targeted relief has funding but no announced design. |
| KiwiSaver and retirement savings | Compulsory worker contributions from July 2028; combined default contributions reach 12% by 2032. Employer contributions for contributing over-65s from July 2027. | Compulsory employer contributions from 1 July 2028, rising to 6% by 2032. Extended to paid parental leave and over-65s. Employee default 4%. | No KiwiSaver change announced (as at 12 October 2026). | Automatic enrolment at birth and a $1,000 Crown contribution for New Zealand citizens. | No KiwiSaver change announced (as at 12 October 2026). | Compulsory retirement saving; employee and employer contributions progressively reach 6% each. | Remove tax on qualifying KiwiSaver returns; end the government contribution for members receiving employer contributions. Raise NZ Super age to 67 by 2035, with compassionate early access for qualifying physically demanding careers. |
| Other taxes, levies and emissions pricing | Freeze the International Visitor Levy for at least three years; no new bed tax. | Freeze fuel tax for three years. | Introduce a 0.06% major-bank liabilities levy and enforce withholding tax on specified offshore profit-shifting payments. | No other tax or levy changes announced (as at 12 October 2026). | Extra $1 billion for IRD, the Serious Fraud Office, the Financial Markets Authority and the Financial Intelligence Unit to tackle tax evasion. | No other tax or levy changes announced (as at 12 October 2026). | Return net ETS auction revenue through a Carbon Tax Refund. Remove the auction price floor and align the emissions cap with trading partners. Pay councils $1 per commercial guest night without a new bed tax. |
Company income tax
- National
- Commitment to no new taxes. No new company-rate cut identified.
- Labour
- No change to company-rate announced (as at 12 October 2026)
- Green Party
- Increase to 33% for companies with annual turnover above $30 million; retain 28% for smaller companies.
- New Zealand First
- Reduce to 20% for companies with annual turnover below $30 million.
- Te Pāti Māori
- Increase from 28% to 33%. Add a 5% “International Profit Transfer Tax” on profits sent offshore.
- Opportunity Party
- No change to company-rate announced (as at 12 October 2026).
- ACT
- No new taxes; no broad company-rate cut specified in the fiscal plan.
Business investment deductions
- National
- Keep Investment Boost (20% immediate deduction), from National’s 47-point small business plan (7 Oct)
- Labour
- Replace Investment Boost with small-business measures. Raise the immediate asset write-off threshold to $10,000 for businesses with annual revenue below $10 million, from July 2027.
- Green Party
- No comparable measure identified.
- New Zealand First
- No specific deduction change identified; proposes lower company tax.
- Te Pāti Māori
- None identified.
- Opportunity Party
- No specific deduction change identified.
- ACT
- Clarify and modernise deductions for software and digital investment.
GST registration
- National
- National’s plan commits to reviewing the $60,000 threshold, which hasn’t changed since 2009
- Labour
- Raise the compulsory registration threshold from $60,000 to $80,000, from July 2028.
- Green Party
- No change announced (as at 12 October 2026).
- New Zealand First
- No change announced (as at 12 October 2026).
- Te Pāti Māori
- “No GST on Kai”: a targeted rebate (about 8 weeks of food) for people earning $60,000 or less. GST rate unchanged.
- Opportunity Party
- No change announced (as at 12 October 2026).
- ACT
- No change announced (as at 12 October 2026).
Property and land taxation
- National
- No new taxes commitment.
- Labour
- 28% capital gains tax on residential investment and commercial-property gains accruing from July 2027. Exempt family homes and farms; relief for small businesses moving to larger premises.
- Green Party
- Remove residential investment mortgage-interest deductions and restore the 10-year bright-line test.
- New Zealand First
- No comparable proposal identified.
- Te Pāti Māori
- 33% land banking tax; 2% vacant house tax; 5% stamp duty on residential sales (first-home buyers under $1m excluded). No separate CGT.
- Opportunity Party
- Annual land value tax, excluding buildings and improvements: 1.75% for residential and commercial land; 0.5% for rural land, with concessions.
- ACT
- No new taxes commitment; no new property or land tax specified.
Wealth, inheritances and gifts
- National
- No new taxes commitment.
- Labour
- Shares, other business assets, inheritances and gifts are outside its proposed property capital gains tax.
- Green Party
- 2.5% annual wealth tax above $10 million per person, excluding the family home. 33% tax on taxable inheritances and gifts above $1 million, with family-home and family-farm exemptions.
- New Zealand First
- No specific proposal identified.
- Te Pāti Māori
- Net wealth tax: 1.5% on $2m–$5m, 2.0% on $5m–$10m, 2.5% above $10m (per person).
- Opportunity Party
- Land tax is the principal asset-based measure in its Tax Reset.
- ACT
- No new taxes commitment; no new wealth or inheritance tax specified.
Personal income tax and income support
- National
- No new personal-rate change announced (as at 12 October 2026).
- Labour
- No new personal-rate change announced (as at 12 October 2026).
- Green Party
- First $10,000 tax-free; revised intermediate brackets; 45% marginal rate above $160,000.
- New Zealand First
- No personal income tax change announced (as at 12 October 2026).
- Te Pāti Māori
- No tax on the first $30,000. Then 15% to $60k, 33% to $90k, 39% to $180k, 42% to $300k, and 48% above $300k.
- Opportunity Party
- Three personal rates: 28%, 34% and 39%, combined with a Citizen’s Income of approximately $19,400 a year for eligible adults.
- ACT
- No broad income-tax cut. Lower, flatter taxes remain a future objective. Additional targeted relief has funding but no announced design.
KiwiSaver and retirement savings
- National
- Compulsory worker contributions from July 2028; combined default contributions reach 12% by 2032. Employer contributions for contributing over-65s from July 2027.
- Labour
- Compulsory employer contributions from 1 July 2028, rising to 6% by 2032. Extended to paid parental leave and over-65s. Employee default 4%.
- Green Party
- No KiwiSaver change announced (as at 12 October 2026).
- New Zealand First
- Automatic enrolment at birth and a $1,000 Crown contribution for New Zealand citizens.
- Te Pāti Māori
- No KiwiSaver change announced (as at 12 October 2026).
- Opportunity Party
- Compulsory retirement saving; employee and employer contributions progressively reach 6% each.
- ACT
- Remove tax on qualifying KiwiSaver returns; end the government contribution for members receiving employer contributions. Raise NZ Super age to 67 by 2035, with compassionate early access for qualifying physically demanding careers.
Other taxes, levies and emissions pricing
- National
- Freeze the International Visitor Levy for at least three years; no new bed tax.
- Labour
- Freeze fuel tax for three years.
- Green Party
- Introduce a 0.06% major-bank liabilities levy and enforce withholding tax on specified offshore profit-shifting payments.
- New Zealand First
- No other tax or levy changes announced (as at 12 October 2026).
- Te Pāti Māori
- Extra $1 billion for IRD, the Serious Fraud Office, the Financial Markets Authority and the Financial Intelligence Unit to tackle tax evasion.
- Opportunity Party
- No other tax or levy changes announced (as at 12 October 2026).
- ACT
- Return net ETS auction revenue through a Carbon Tax Refund. Remove the auction price floor and align the emissions cap with trading partners. Pay councils $1 per commercial guest night without a new bed tax.
National
National’s headline commitment is no new taxes. It also proposes freezing the International Visitor Levy for at least three years and directing more of the revenue to councils, without introducing a new bed tax.
Separately, National proposes compulsory KiwiSaver contributions for all workers from July 2028, with combined default contributions reaching 12% by 2032. Employers would also be required to contribute for contributing workers aged over 65 from July 2027.
Business consideration: The tax commitment emphasises continuity, while the KiwiSaver proposals would be relevant to payroll planning and employment costs. National’s tax policy, 47 point small business plan, KiwiSaver policy and visitor levy policy.
Labour
Labour proposes a 28% capital gains tax on gains accruing from 1 July 2027 when residential investment or commercial property is sold. Family homes, farms, shares, and other business assets would be exempt, with relief for small businesses selling premises to purchase larger premises.
Its small-business package would increase the immediate asset write-off threshold to $10,000 for businesses with annual revenue below $10 million and raise the GST registration threshold to $80,000. KPMG reports that Labour would replace Investment Boost with its small-business measures. Labour also proposes freezing fuel tax for three years.
Business consideration: The key areas are commercial-property sales, the timing of investment deductions and GST obligations. An immediate write-off accelerates a deduction; it is not a refund of the purchase price. Capital gains tax policy, small-business package, fiscal plan and KPMG summary.
Green Party
The Greens propose increasing company tax to 33% for companies with annual turnover above $30 million, while retaining 28% for smaller companies.
Other proposals include a 2.5% annual tax on net wealth above $10 million per individual, excluding the family home, and a 33% tax on taxable inheritances and gifts above $1 million, with exemptions for family homes and family farms.
The party also proposes a $10,000 income-tax-free threshold, a 45% marginal rate above $160,000, changes to residential investment-property taxation, and measures targeting major banks and offshore profit shifting.
Business consideration: Larger companies, owners with substantial business equity, and families planning business succession would need to consider the proposed rules. Green Party tax policy.
New Zealand First
New Zealand First proposes reducing company tax from 28% to 20% for companies with annual turnover below $30 million. Its announcement does not specify a commencement date or detailed eligibility rules.
Business consideration: This could reduce tax paid at company level for qualifying businesses. It should not be read as a proposed 20% personal tax rate for sole traders or shareholders. NZ First’s SME tax announcement.
Te Pāti Māori
Te Pāti Māori proposes increasing company tax to 33%, adding a 5% tax on profits sent offshore, and making the first $30,000 of personal income tax-free, with a top marginal rate of 48% above $300,000. Its package includes a “‘no GST on Kai” rebate for people earning $60,000 or less, while leaving the GST rate unchanged.
It also proposes graduated net wealth taxes above $2 million per person, taxes on land banking and vacant homes, and 5% stamp duty on residential sales, with an exemption for first-home buyers purchasing below $1 million. An additional $1 billion would fund agencies tackling tax evasion.
Business consideration: The key areas are company tax costs, offshore profit transfers, property transactions and business owners’ personal wealth. Owners with substantial business equity or property holdings would need to assess how the proposed taxes interact with their personal income-tax position.
Opportunity Party
Opportunity proposes a 1.75% annual tax on residential and commercial land values, excluding buildings and improvements, with a reduced 0.5% rate for rural land and specified exemptions and deferrals.
The wider package includes a Citizen’s Income of approximately $19,400 a year for eligible adults, personal income tax rates of 28%, 34% and 39%, and compulsory retirement saving, with employee and employer contributions progressively reaching 6% each.
Business consideration: Businesses owning land would need to assess the ongoing cost alongside the wider package. Employers would also need to account for the proposed retirement contributions. Opportunity’s Tax Reset.
ACT
ACT proposes no new taxes, with targeted changes rather than broad income-tax or company-rate cuts. These include tax-free qualifying KiwiSaver earnings, offset by ending government contributions for members receiving employer contributions; removing the charitable donation tax-credit cap; and simplifying personal digital-asset taxation while retaining existing rules for businesses and professional traders.
ACT also proposes clearer software-investment deductions, a Carbon Tax Refund and council tourism funding without a new bed tax. Separately, it would raise NZ Super eligibility to 67 by 2035, with compassionate early access for qualifying workers.
Business consideration: Relevant areas include technology deductions, owners’ savings and donations, tourism funding, and retirement planning. ACT fiscal plan;
Sources: National tax, National KiwiSaver, National tourism; Labour capital gains tax, Labour small business, Labour fiscal plan; Green tax policy; NZ First company tax, NZ First policies; Opportunity Tax Reset; ACT KiwiSaver, ACT business deductions, ACT carbon policy; KPMG election summary, ACT fiscal plan.