New Zealand 2026 election: who pays more or less tax?

The key question is not just which parties promise tax cuts. It is which households would have more money after tax, who would pay more, and whether the government would raise enough revenue to maintain public services such as healthcare, education, superannuation and infrastructure.

For the 2026 New Zealand general election, it is important to distinguish between three things:

• Personal tax changes: changes to income tax, tax credits and benefits that affect household budgets.
• Other taxes: changes to GST, property and investment taxes, company tax and other revenue sources.
• Public-service funding: whether parties would rely on economic growth, spending cuts, new taxes, borrowing or some combination of these.

A party can reduce one tax while increasing another, and a tax cut does not necessarily mean a household is better off overall if it also faces higher fees or reduced access to public services.

1. The main parties compared

The election is on 7 November 2026. The comparison below reflects published proposals available by mid-October; not every party has released a comprehensive, fully costed tax package. Tax Tips: 2026 General ElectionNZ Election 2026: Every Party's Tax Policy ComparedThe main parties vying to form New Zealand's next government

Party	Who would generally pay less?	Who would generally pay more?
National	No new personal income-tax cut is currently promised. The party says it may consider further relief once the books are in surplus.	No new taxes under its pledge; no broad new group of taxpayers announced.
Labour	Small businesses receiving targeted tax relief; patients using proposed free healthcare services.	Owners selling residential investment or commercial property at a taxable gain.
Green Party	Most income taxpayers under its proposed revised income-tax scale.	People with net assets above $10 million, recipients of large gifts or inheritances, and large companies and banks covered by its new taxes.
ACT New Zealand	KiwiSaver investors under its proposal to remove tax on investment gains.	No major new personal income or wealth tax has been proposed. Ending government KiwiSaver contributions would affect eligible savers.
New Zealand First	Lower-income earners under its proposed tax-free threshold; eligible families receiving its child grant; some smaller companies.	No broad wealth or capital gains tax is proposed. Workers would also face higher compulsory retirement-saving contributions.
Te Pāti Māori	People earning below or around $60,000, particularly through its tax-free threshold and targeted food credit.	High-wealth households, companies, some property sellers, owners of vacant houses and land bankers.
Opportunity	Eligible adults receiving its proposed $19,400 annual Citizen’s Income, with the net result depending on their income and other circumstances.	Owners of valuable urban and rural land, and some higher-income earners under its revised income-tax scale.

This is a directional summary, not a ranking or a calculation of each household's final tax bill. Policies, eligibility and exemptions matter. Sources: PwC's October 2026 tax update and the parties' published proposals. Tax Tips: 2026 General ElectionNo new taxes under NationalNZ Election 2026: Every Party's Tax Policy Compared

2. What the tax changes mean in practice

National: hold the line on taxes

National's main commitment is no new taxes. It has not published a new personal income-tax cut for this election, although it has indicated that future relief could be considered after the government returns to surplus.

Its funding approach is to control public spending, grow the economy and improve government finances while maintaining frontline services. The important question for voters is how much service improvement can be delivered within that spending approach. No new taxes under NationalNZ Election 2026: Every Party's Tax Policy Compared

Labour: a targeted property gains tax for healthcare

Labour proposes a 28% tax on qualifying gains from residential investment and commercial property, with gains measured from 1 July 2027. The family home, farms, shares, KiwiSaver, businesses and inheritances are excluded.

Labour says the revenue would be ring-fenced for healthcare, beginning with three free GP visits a year. Its small-business package would expand immediate asset write-offs and lift the GST registration threshold, funded by replacing the existing Investment Boost regime. Tax Tips: 2026 General ElectionLabour's 2026 Election Policies

Likely effect: property investors with taxable gains would pay more; eligible small businesses could benefit from simpler deductions and improved cash flow.

Greens: lower taxes on ordinary incomes, higher taxes on wealth

The Greens propose making the first $10,000 of income tax-free, revising income-tax rates and introducing a 45% rate on income of $160,000 and above. Under the full proposed scale, most taxpayers would pay less income tax, while some higher earners would pay more.

The package also includes a 2.5% annual wealth tax on individual net assets above $10 million, a 33% tax on gifts and inheritances above $1 million (with exemptions), a 33% company tax rate for businesses with turnover above $30 million, and a bank levy.

The intended funding model shifts more of the tax burden towards substantial wealth and large businesses to finance social support and public investment. Tax Tips: 2026 General ElectionManifesto 2026

ACT: savings and investment incentives

ACT's announced measures include removing tax on KiwiSaver investment gains and ending government KiwiSaver contributions. It also supports funding some local tourism-related costs from existing revenue rather than a new accommodation levy.

The approach favours investment incentives and limiting new taxes rather than financing a major expansion of services through higher taxation. For KiwiSaver members, the outcome would depend on the balance between investment-tax savings and the loss of government contributions. Tax Tips: 2026 General ElectionElection 2026: Will parties’ tax policies support public health and equity?

New Zealand First: targeted help for families and small businesses

New Zealand First proposes a tax-free threshold for the first $14,000 of income, a tax-free $5,000 annual Kiwi Kids Grant for each of a family's first three children during their first three years, and a 20% company tax rate for companies with turnover below $30 million.

Its funding and revenue approach includes stronger tax enforcement and cracking down on tax evasion, alongside targeted policies rather than a broad wealth tax. Its proposals for compulsory KiwiSaver and higher contributions would also affect take-home pay. Election 2026: Will parties’ tax policies support public health and equity?Tax Tips: 2026 General Election

Te Pāti Māori: a larger tax-free allowance and more property and wealth taxes

Te Pāti Māori proposes making the first $30,000 of income tax-free, with higher marginal rates at higher incomes, plus a targeted Kai Credit for people earning $60,000 or less.

Its revenue measures include a progressive wealth tax, a 33% company tax rate, taxes on land banking and vacant houses, and 5% stamp duty on residential property sales, with an exemption for first-home buyers purchasing homes under $1 million.

The stated approach is to raise more from high-wealth households and certain property and business activity to support household affordability and greater public investment. Tax Tips: 2026 General ElectionElection 2026: Will parties’ tax policies support public health and equity?

Opportunity: a land tax and a guaranteed income

Opportunity proposes a tax-free $19,400 annual Citizen's Income for eligible adults, together with income-tax rates of 28% up to $50,000, 34% from $50,001 to $200,000, and 39% above $200,000.

It would fund a wider tax-and-benefit reset primarily through an annual land-value tax of 1.75% on urban land and 0.5% on rural land, subject to exemptions and deferrals. The tax applies to the land value, not the buildings.

The net effect depends on the land someone owns, their income, their eligibility for the Citizen's Income and how existing benefits would change. The proposal is intended to change how income support and taxation work together, rather than relying solely on conventional income-tax revenue. Tax Tips: 2026 General ElectionThe main parties vying to form New Zealand's next government

3. How would the parties pay for public services?

The biggest difference is where each party expects the money to come from.

Funding approach	Parties most associated with it	Main trade-off
Spending restraint and economic growth	National, ACT	Services must fit within available revenue and spending plans.
A specific new tax for healthcare	Labour	Revenue depends on taxable property gains and how the tax performs over time.
Higher taxes on wealth and large companies	Greens, Te Pāti Māori	Could raise revenue from wealthier taxpayers, but requires complex rules and may change investment behaviour.
Tax enforcement and targeted changes	New Zealand First	Additional revenue depends partly on how much tax evasion can be recovered.
Land tax to finance a broader income-support reset	Opportunity	Landowners face recurring costs; the full fiscal result depends on the cost of the income guarantee and changes to existing benefits.

Tax Tips: 2026 General ElectionElection 2026: Will parties’ tax policies support public health and equity?No new taxes under National

There are three important distinctions when assessing these plans.

• Revenue is not the same as funding certainty. A new tax may raise less than forecast if property transactions, asset values or taxpayer behaviour change.
• A tax cut needs a funding source. It must be matched by other revenue, lower spending, borrowing or a credible increase in economic activity.
• Public services have their own costs. An announcement about funding healthcare, schools or income support should be assessed against the actual cost, timing and eligibility rules of the commitment.

Tax experts at PwC also caution that major changes to capital, wealth and business taxes can create administrative challenges and uncertainty for long-term investment. Tax Tips: 2026 General ElectionElection 2026: Will parties’ tax policies support public health and equity?

4. Which households should pay closest attention?

• Employees on low or middle incomes: compare the Greens', Te Pāti Māori's and New Zealand First's proposed tax-free thresholds with your current tax bill and eligibility for credits.
• High-income earners: examine the proposed top income-tax rates, particularly those of the Greens and Te Pāti Māori, as well as any change to investment income.
• Homeowners and property investors: distinguish between your family home and investment property, and check whether land tax, capital gains tax or stamp duty would apply.
• People with substantial wealth or inheritances: look carefully at the Greens' and Te Pāti Māori's proposed wealth and inheritance-related taxes.
• Families with children: compare New Zealand First's child grant and the other parties' family-support measures, including their eligibility conditions.
• Retirement savers: assess compulsory KiwiSaver contribution rates, employer contributions and government subsidies alongside income-tax changes.

One final caveat: these are campaign proposals, not enacted tax law. Coalition negotiations after the election could change them, and the combined effect on your household can differ substantially from the headline policy.

Explore the figures further

I can also compare the proposed income-tax bills for specific annual salaries, or lay out the parties' public-service funding commitments side by side.

Compare tax on $50k, $80k and $150k salaries · Compare healthcare and education funding