--- title: "PF020 · Captured AI answers" publisher: "Onsomble Limited" publication: "NZBrands.ai" edition: 3 collected_on: "2026-10-16" html_url: "https://nzbrands.ai/research/nz-election-2026/editions/3/questions/d29a2510-6b5d-450b-aeb9-99e5bfafa121/" --- # PF020 · Captured AI answers Edition 3 · answers collected 16 October 2026. [Read on NZBrands.ai](https://nzbrands.ai/research/nz-election-2026/editions/3/questions/d29a2510-6b5d-450b-aeb9-99e5bfafa121/) ## Question My partner and I rent, have steady jobs and are trying to save a deposit for our first home. We worry that the target keeps moving. I am considering my vote in the 2026 New Zealand general election. Which parties propose changes to taxes on property or capital gains, and what could those changes mean for people trying to buy? Question ID: d29a2510-6b5d-450b-aeb9-99e5bfafa121. Report reference: PF020. Issue: Tax and public spending. Voter: Couple saving for a first home. [Source record (JSON)](https://nzbrands.ai/data/nz-election-2026/editions/3/answers/d29a2510-6b5d-450b-aeb9-99e5bfafa121.json) ## How to read this evidence The answers below are shown as the assistants gave them, not a verified account or NZBrands.ai voting advice. They may contain errors or outdated claims. A recorded source association is not necessarily a link shown to the reader. Captured 16 October 2026. 4 answers were saved for this question. Missing answers have not been filled in. [Study methodology and limitations](https://nzbrands.ai/research/nz-election-2026/editions/3/method.md) ## ChatGPT · asked nationally Answer ID: 8f6ac143-4a82-4b2a-bf26-87f460ed23ec. Captured 16 October 2026. **Begin captured answer — shown as given, not verified** If you're renting in New Zealand, both working steadily and trying to save a first-home deposit, it's understandable to feel that house prices and the deposit you need keep moving further away. The important question for the 2026 general election isn't just which party promises cheaper housing. It's who wants to change the tax advantages of owning investment property, who would tax capital gains, and whether those changes might make it easier for first-home buyers to compete. There are two different issues to weigh up: - Saving your deposit: Your take-home pay, rent, savings returns and the price of homes you can afford all matter. - Competing for a home: Tax rules can affect the after-tax returns landlords receive, and therefore potentially affect investors' willingness to buy property, the supply of rentals and the prices first-home buyers face. A policy can help in one way and hurt in another. For example, a tax change might make an investment property less attractive to a landlord, but it could also affect rents or the number of homes available to rent. The details matter. ## 1. Which parties propose property or capital-gains tax changes? The following reflects published policy as of October 2026. The election is scheduled for 7 November, so these are campaign proposals, not enacted changes. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Summary of 2026 election tax policies](https://kpmg.com/nz/en/insights/tax/summary-of-2026-election-tax-policies.html)[Election 2026: What could change under each Party’s tax policy?](https://www.nexia.co.nz/2026-election-tax-policies-new-zealand/) ![South Island Election Conference 2026](https://images.openai.com/static-rsc-4/_spFKDBqOMVPoo8r35YLoGFwljs_-WWe4ur9fdZCfekzAxaUPGA75u8rI9uxOUTssI2hUZN1r4Zu1AeDrcNaxz3uHoFIyWjDpanT5s-KJ87QzxSu1uNjNL4MOHSuazRZuTy_TzC6aN4wxHHoyU_DhzMFuMCMjNBTtg2xRxOZL6c?purpose=inline) ## Labour Targeted capital gains tax Labour proposes a 28% tax on gains from residential investment and commercial property, applying to gains arising from 1 July 2027. The family home and farms would be excluded, as would shares and KiwiSaver. Labour has also said it would retain the current rules allowing landlords to deduct mortgage interest from rental income. Revenue from the proposed tax would be earmarked for health. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Labour rules out interest deductibility changes for landlords](https://www.1news.co.nz/2026/09/21/labour-rules-out-interest-deductibility-changes-for-landlords/) What it could mean for you: If the policy reduced the after-tax appeal of property speculation or investment relative to other assets, it might reduce some investor demand for existing homes. That could help first-home buyers compete, but the size of any price effect is uncertain. ![Green Party NZ (@NZGreens) on X](https://images.openai.com/static-rsc-4/xwoeA3rTn5Pu0UL1uRc6X_g8ADsfUTe55rxQEjXC_rnFR_6TPTr_9eG0LsowNOdFRtax24qB8h-LRfUtZEf42T0CC5OclOZ5katbFJAYxs0cZRyqDBlGNgF_8AV_5WTCbYonGIqLGuK095lLGrkBVw3L8vdsA06tLHVNuCJquuc?purpose=inline) ## Green Party Changes to landlord tax rules and wealth Rather than a new general capital gains tax, the Greens propose restoring a 10-year bright-line period for residential property and removing landlords' ability to deduct mortgage interest. They also propose an annual 2.5% wealth tax on individual net assets above $10 million, excluding the family home, and a 33% tax on gifts and inheritances above $1 million, with exemptions. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Election 2026: What could change under each Party’s tax policy?](https://www.nexia.co.nz/2026-election-tax-policies-new-zealand/)[Election tax policies, part one | Tax Alert - July 2026](https://www.deloitte.com/nz/en/services/tax/perspectives/election-tax-policies-part-one.html) What it could mean for you: Less favourable tax treatment could discourage some investors from buying existing homes, potentially easing competition. However, landlords could respond by raising rents where the market permits, selling properties or changing their investment decisions. The wealth and inheritance taxes are unlikely to apply directly to a typical first-home buyer. ![‘Kei te ū pūmau a Oriini me Hana’ rumours dispelled of further MP departures and what next for Te Tai Tokerau – Te Ao Māori News](https://images.openai.com/static-rsc-4/weRNAPH1Spk-2b1TgQ1m1xiPmT1pECw8AgSss9pNk_J6N6xtSw_eZtCOXPEfnX5tNGYJoSqkX_-g9NWIIOKqmqFP6CupOAPEytFRIfN3H3LZEj8fIzu9W9X17rMALEAgRsv8qI5MQihhx4Byuzbmq3_4iRrDKR7-1iurGI22Rss?purpose=inline) ## Te Pāti Māori Wealth and property taxes Its tax package proposes a progressive wealth tax starting above $2 million in net assets, a 33% land-banking tax, a 2% vacant-house tax and a 5% stamp duty on residential sales. It proposes exempting first-home buyers purchasing homes below $1 million from stamp duty. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Election 2026: What could change under each Party’s tax policy?](https://www.nexia.co.nz/2026-election-tax-policies-new-zealand/) What it could mean for you: Taxes on land banking and vacant houses are intended to encourage land and housing to be used rather than held idle. A first-home-buyer stamp-duty exemption, if implemented as proposed, could directly reduce your purchase costs. The broader effect on prices and the supply of homes is less certain. ![Current party and logo applications | Elections NZ](https://images.openai.com/static-rsc-4/pNlKHoGO5oFk8esijeI0EPY_HRIF-4iYRD0CHpVZsQphNlqc0ahJ7qVeBSZjMPW9XSN7V5h3piIIFyFoDCUELxA2-Tx9wS9WVySIJ0uYwzQbb4lIN2gdYjij08eflf0iRSZ3gQs7DZ4Ggikd2EZK2Oy9bl2ibNAS1uNZRczssME?purpose=inline) ## Opportunity (formerly TOP) Annual land value tax Opportunity proposes an annual tax of 1.75% of urban land value and 0.5% of rural land value. The tax applies to land rather than buildings, with some exemptions and deferral provisions. The party links its wider tax reform to a tax-free Citizen's Income. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Election 2026: What could change under each Party’s tax policy?](https://www.nexia.co.nz/2026-election-tax-policies-new-zealand/) What it could mean for you: Because the tax applies to land value rather than the building, it could encourage owners to use valuable land more productively and could influence land prices. But it could also raise the ongoing cost of owning a home, including for owner-occupiers. Its impact would depend on how much of the tax is reflected in land prices and how the other parts of the tax package affect your household. ![Will National Party Finish 2nd in New Zealand's 2026 Election?](https://images.openai.com/static-rsc-4/LCDs4P76HEgfCayafHeSga8GCw12Vxs2fPc3toeyLUZ-wmb6UiGRZY6bhdT1xRejtICfUd6GX2BWmI76EkpoWuffTU4g32bP_qUJp29rsfn5_Zvj5THHSYTLHSoo_5_YQyZ3zKE1WIpB4bu7raRltFl5TZFCgCcE0quf_GohkFI?purpose=inline) ## National National is campaigning against new taxes and is not proposing a new general capital gains tax or a new property tax. It has restored full mortgage-interest deductibility for residential landlords and emphasises housing supply, planning reform and faster consents. [Summary of 2026 election tax policies](https://kpmg.com/nz/en/insights/tax/summary-of-2026-election-tax-policies.html)[NZ election 2026: what it means for landlords, says economist Brad Olsen](https://www.trademe.co.nz/c/property/article/nz-election-2026-what-it-means-for-landlords-says-economist-brad-olsen) What it could mean for you: This approach aims to improve affordability through more housing construction and investment rather than new taxes on property owners. More supply can help affordability over time, but the pace of building and population growth matters. ![POLICY TRACKER: TOP wants to fund cheaper doctor visits with junk-food tax | New Zealand Doctor](https://images.openai.com/static-rsc-4/K1DpIS-dF4mtKrl0KIyfSnF_8RO2gnoDtATKXcH-ytfTo6cgmA_wwVhD8J5hW6OuytxDrAergQSGimCSsVKfunUK61RDtNU5GxwiaPB_cRB685VjK9FjkZErmrrvx_4zTP2h6GpckCQVzANm4LVdUE3kTNzzpmgwLxBt7L_7t70?purpose=inline) ## ACT ACT opposes capital gains and wealth taxes and favours lower or flatter income taxes, spending restraint and a stronger focus on investment. [Summary of 2026 election tax policies](https://kpmg.com/nz/en/insights/tax/summary-of-2026-election-tax-policies.html)[Election 2026: What could change under each Party’s tax policy?](https://www.nexia.co.nz/2026-election-tax-policies-new-zealand/) What it could mean for you: There would be no new CGT under ACT's stated approach. Its case for affordability rests more on economic growth, investment and housing supply than on changing the tax treatment of property investors. ![New Zealand legislative election winner? Predictions & Od... 2026 | Polymarket](https://images.openai.com/static-rsc-4/UmXClDd76aKEk_XyXfEEacFBHXO18HFMG1Im-weRm7tb64uGzBsRK3vWPXuiFN2zaWaNznb7eSDIJucKOhlXtwb6Lq-BYR6oxisKzHsWTxF5AsiLmtcNGDNtwCsXzgIuSp2vW4pa6pAda-tTriG23zKX1ZuknQ81HGh411pqRkM?purpose=inline) ## New Zealand First New Zealand First has not put forward a comparable comprehensive property-tax reform package. Its tax announcements include a proposed lower company tax rate for smaller businesses; it does not appear to support a new capital gains or wealth tax. [Summary of 2026 election tax policies](https://kpmg.com/nz/en/insights/tax/summary-of-2026-election-tax-policies.html)[Election 2026: Will parties’ tax policies support public health and equity?](https://www.phcc.org.nz/briefing/election-2026-will-parties-tax-policies-support-public-health-and-equity) What it could mean for you: Its announced tax measures offer less direct change to the tax treatment of residential property than the Labour, Greens, Te Pāti Māori or Opportunity packages. ## 2. How could these policies affect your deposit? Here is the practical comparison for a couple who rent, have steady employment and are saving to buy their first home. | Policy approach | Possible benefit for you | Main uncertainty or trade-off | | --- | --- | --- | | Capital gains tax (Labour) | Could reduce some investors' willingness to bid for existing homes | May have a modest or delayed effect on prices | | Tighter landlord tax rules (Greens) | Could reduce investor demand for existing properties | Could affect rents, rental supply and investment in new homes | | Vacant-home and land-banking taxes (Te Pāti Māori) | Could encourage more productive use of existing land and homes | Effects depend on enforcement and whether owners actually sell or develop | | First-home stamp-duty exemption (Te Pāti Māori) | Could reduce your upfront buying costs directly | Only helps if you meet the proposed eligibility rules and the policy is enacted | | Land value tax (Opportunity) | Could encourage more efficient use of land and potentially change land prices | Creates an ongoing ownership cost and could affect household budgets | | No new property taxes (National and ACT) | Avoids introducing these additional taxes | Affordability depends more on supply, income growth and other housing policies | These are potential effects, not guaranteed outcomes. The parties' policies and independent tax-policy summaries are available through [Policy.nz's 2026 election guide](https://policy.nz/2026/party-vote/policies/housing) and [PwC's tax-policy comparison](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html). [Policies for Party vote - NZ Election 2026](https://policy.nz/2026/party-vote/policies/housing)[Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html) ## 3. The key distinction: cheaper houses versus a bigger deposit Suppose your household is saving towards a home priced at $800,000. A 20% deposit would be $160,000. Illustrative example — not a forecast of prices Target home price # $800,000 20% deposit target # $160,000 If the same home became 5% cheaper, at $760,000, a 20% deposit would fall to $152,000 — a reduction of $8,000. That would be useful progress. But if your rent rises, your savings earn less than expected, or prices rise elsewhere, some of that benefit could disappear. This is why it's worth looking beyond the headline tax rate. A policy that reduces the price of a home helps you in a different way from one that gives you extra disposable income to save each month. Also, don't assume a capital gains tax means every house becomes cheaper. The impact depends on how investors respond, how much new housing is built, interest rates, credit availability and the wider economy. ## 4. What I would focus on before casting your vote For your situation, I'd compare parties on four questions: - Will it make the homes we want more affordable? Look for credible measures to increase housing supply and reduce competition for existing homes, not just promises of lower prices. - Will it help us save faster? Compare proposed income-tax changes and cost-of-living measures with the likely effect on your household's take-home pay and rent. - Will it lower the upfront barrier? Deposit assistance or a first-home stamp-duty exemption can be more immediately relevant than a tax that affects property investors over several years. - Is the policy likely to be implemented? Under MMP, the final policy depends on coalition negotiations and legislation. A party's campaign proposal isn't a guarantee of a change in the rules. [Summary of 2026 election tax policies](https://kpmg.com/nz/en/insights/tax/summary-of-2026-election-tax-policies.html)[Election 2026: What could change under each Party’s tax policy?](https://www.nexia.co.nz/2026-election-tax-policies-new-zealand/) My overall assessment: Labour and the Greens offer the clearest alternatives to the current tax treatment of residential property investment; Te Pāti Māori proposes more direct property taxes alongside a first-home-buyer stamp-duty exemption; and Opportunity proposes a broader shift towards taxing land. National and ACT favour avoiding new property and capital-gains taxes. New Zealand First has announced fewer direct changes in this area. None of these positions, on its own, guarantees that you'll buy sooner. The best fit depends on whether your biggest obstacle is the deposit you can save, the prices of suitable homes, or the ongoing cost of a mortgage. For a useful next step, compare each party's detailed housing affordability, rental and income-tax policies alongside its property-tax proposals, rather than making your decision on capital gains tax alone. **End captured answer** ## Gemini · asked nationally Answer ID: 9d4c5971-0eef-41c0-afc0-c96b7b4429aa. Captured 16 October 2026. **Begin captured answer — shown as given, not verified** Navigating the property market while trying to save a first-home deposit can feel like chasing a moving target. In the lead-up to the **2026 New Zealand general election**, political parties have drawn distinct lines regarding property and capital taxes, which directly impact the housing market dynamics you and your partner face. --- ### Parties Proposing Changes to Property Taxes or Capital Gains Different parties approach property taxation from opposing philosophies—ranging from targeted capital gains taxes to broad land value taxes or a commitment to no new property taxes. * **The Labour Party:** Proposes a targeted **28% capital gains tax (CGT)** on residential investment properties, holiday homes, and commercial properties. * *Key details:* It would apply to capital gains made after 1 July 2027. **Family homes (owner-occupied properties) and farms are explicitly exempt.** * **The Opportunities Party (TOP):** Proposes a comprehensive tax reset that includes an **annual residential land value tax of 1.75%** on urban land (and 0.5% on rural land), alongside structural personal income tax cuts. * **The Green Party & Te Pāti Māori:** Both advocate for broader asset and wealth-tax frameworks, alongside specific housing-related measures like land banking taxes and vacant house taxes (Te Pāti Māori also proposes a 5% stamp duty on residential sales, excluding first-home buyers under $1 million). * **The National Party:** Campaigning on a **"no new taxes" pledge**. They have focused on maintaining current settings—having previously shortened the bright-line test back to 20 years/2 years and restored interest deductibility for landlords—while focusing their first-home buyer policy side on expanding support for 5% deposit schemes (such as lifting First Home Loan income caps). * **ACT New Zealand:** Opposes capital gains and wealth taxes. They favor lower income and trust tax rates and focus on supply-side reforms, such as incentivizing local councils by sharing GST on new builds. --- ### What These Changes Could Mean for First-Home Buyers If you are trying to step onto the property ladder, these competing tax philosophies suggest different potential outcomes for market competition, house prices, and saving timelines: #### 1. Lower Investor Demand vs. Leveling the Playing Field (e.g., Labour's CGT) * **The Argument:** Proponents of a property capital gains tax argue that New Zealand has historically favored property speculation over productive economic investment because capital gains were largely tax-free. By taxing future gains on *investment* properties (while keeping family homes completely tax-free), the policy aims to reduce the speculative appeal of residential land. * **Impact for You:** For first-home buyers, fewer tax-advantaged incentives for multi-property investors could theoretically cool intense competition at the lower-to-middle end of the market, potentially slowing down runaway price growth and giving you a fairer window to secure a home. #### 2. Shifting Holding Costs and Encouraging Supply (e.g., TOP or Green Party Land Taxes) * **The Argument:** Broad land value taxes penalize land banking and unproductive land holdings by charging an annual percentage based on the land's unimproved value, regardless of whether it is developed. * **Impact for You:** This is designed to force landowners to either build housing or sell, which could significantly increase housing supply over time. More supply generally helps stabilize or moderate house price inflation, making the deposit target less of a "moving target." #### 3. Preserving Status Quo Settings (e.g., National and ACT) * **The Argument:** Parties opposing capital or land taxes argue that adding new taxes creates market uncertainty, can restrict rental supply if landlords exit, and doesn't inherently solve the root cause of housing unaffordability: a historical shortage of consented land and infrastructure. * **Impact for You:** Their focus leans heavily toward supply-side deregulation (making it easier and cheaper to build) and expanding access to low-deposit schemes (like 5% deposit caps) to help you bridge the gap to homeownership faster, rather than using the tax system to shift investor behavior. ### Summary for Your Vote When considering your vote, weigh whether you believe the housing market needs a structural shift via tax reform (like a CGT or land tax) to curb speculative demand and make space for first-home buyers, or whether you prefer a focus on supply-side deregulation and keeping property investment settings untouched. As you and your partner look toward the election, are you more focused on policies aimed at cooling investor demand through taxes, or would you prefer approaches centered on boosting housing supply and low-deposit schemes? **End captured answer** ## Google AI Mode · asked nationally Answer ID: 803eb687-34e0-4224-a18d-0cae3121130f. Captured 16 October 2026. **Begin captured answer — shown as given, not verified** Navigating the housing market while renting and trying to save a deposit is a stressful balancing act, especially when it feels like the goalposts keep shifting. For the 2026 New Zealand general election, property and capital taxation have emerged as major points of difference among the parties. The distinct approaches proposed by political parties—and what they could mean for first-home buyers—span several key policy positions: 1\. New Tax Proposals and Major Changes * * **New Zealand Labour Party:** Proposes a targeted 28% **Capital Gains Tax (CGT)** specifically covering commercial and residential investment properties, set to apply to gains made after July 1, 2027. Explicitly exempts family homes (including lifestyle blocks), farms, KiwiSaver, and shares. * **Green Party:** Proposes a comprehensive net **Wealth Tax** and an **Inheritance Tax** rather than a property-specific CGT. Under this framework, real estate holdings are factored into an individual's overall cumulative net wealth assessment rather than taxed as a standalone transaction upon sale. [Wolfbrook Residential] * **The Opportunities Party (TOP):** Proposes a **Land Value Tax (LVT)** , which levies a recurring tax on the unimproved value of land rather than taxing capital gains or building improvements when a property is sold. [Wolfbrook Residential] * **National Party & ACT Party:** Campaigning to maintain the status quo on core property taxation settings—retaining the 2-year bright-line test and 100% interest deductibility for landlords, with no new property taxes introduced. [Wolfbrook Residential] * **New Zealand First:** Generally holds firm on current settings or focuses on broader economic and retirement levers rather than advocating major new property-specific capital taxes. * * * * 2\. What These Approaches Could Mean for First-Home Buyers * * **Under Labour’s Capital Gains Tax:** * _The Theory:_ By introducing a 28% tax on investment property profits, the policy aims to reduce the speculative appeal of residential housing compared to other business investments. * _For First-Home Buyers:_ Supporters argue this could cool speculative demand, potentially leveling the playing field so you face less competition from multi-property investors at open homes. Because your first home (family home) is entirely exempt, you wouldn't pay CGT on your own eventual home purchase. Critics, however, argue that landlords might pass compliance or yield costs through to rents, making it slightly harder to save while renting. * **Under the Green Party’s Wealth/Inheritance Taxes:** * _The Theory:_ Targets high-net-worth individuals by taxing total accumulated assets over a certain threshold. * _For First-Home Buyers:_ The intent is to redistribute wealth and reduce the systemic advantage of large, dynastic property portfolios. If large-scale residential portfolios become less lucrative to hold, it could encourage asset reallocation toward productive business sectors, potentially easing housing market inflation over the long term. [Wolfbrook Residential] * **Under TOP’s Land Value Tax:** * _The Theory:_ An LVT encourages efficient land use and discourages land banking because you pay the tax regardless of whether the land is developed or vacant. * _For First-Home Buyers:_ It can put downward pressure on land prices and incentivize more housing supply development, which helps improve overall market affordability. * **Under National and ACT’s Status Quo:** * _The Theory:_ Maintains existing incentives for residential property investment to encourage private rental supply. * _For First-Home Buyers:_ Predictability is the main feature here—no structural shifts in property taxation rules that might shock market valuations or alter landlord behavior overnight. Proponents argue this stability keeps rental markets functional while supply increases through broader planning reforms (like RMA replacement). Critics argue it leaves active investors on a level playing field with first-time buyers who are trying to enter the market with a standard wage-based deposit. [Wolfbrook Residential] * You can review specific and evolving policy manifestos directly on the [Labour Party Website](https://www.labour.org.nz) , [National Party Website](https://www.national.org.nz) , or analysis trackers via industry insights like KPMG NZ to weigh how each approach aligns with your long-term housing goals. **End captured answer** ## Google AI Overviews · asked nationally Answer ID: ab9d7407-ed2e-495a-90cb-339f317839cc. Captured 16 October 2026. **Begin captured answer — shown as given, not verified** In the **2026 New Zealand general election** , political parties are sharply divided on property and capital gains taxes, with left-leaning parties proposing new taxes to curb investor demand and right-leaning parties focusing on boosting buyer incentives while opposing new taxes. For first-home buyers, these policies could either cool down competing investor demand or change the direct financial support available to secure a deposit. * * * Left-of-Center Parties: Proposing New Property & Wealth Taxes These parties aim to level the playing field by making residential property investment less tax-advantaged, which they argue could reduce house price inflation. * [Labour Party](https://www.labour.org.nz/): Proposes a flat **28% Capital Gains Tax (CGT)** on commercial and residential investment properties sold after 1 July 2027. The family home is strictly exempt. * [Green Party](https://www.greens.org.nz/): Advocates for a **2.5% annual wealth tax** on net individual assets above $10 million (exempting the family home). They also plan to bring back the 10-year bright-line test and reverse interest deductibility for landlords. * **Te Pāti Māori** : Proposes a progressive wealth tax starting at 1.5% for net wealth over $2 million. They also propose a **33% land banking tax** , a 2% vacant house tax, and a 5% stamp duty on property sales over $1 million (exempting first-home buyers under $1 million). * **The Opportunity Party (TOP)** : Proposes an annual **1.75% urban land value tax** on the underlying value of land rather than a tax on sale. **What this means for you:** If implemented, these policies are intended to deter property speculators and landlords from competing against you for entry-level homes, potentially slowing down house price growth. However, critics argue these taxes could flow through to higher rent prices while you save. * * * Right-of-Center Parties: Opposing New Taxes & Enhancing Support These parties oppose capital gains or wealth taxes, arguing that tax relief for property owners increases housing supply and that direct targeted assistance is the best way to help buyers. * [National Party](https://www.national.org.nz/): Pledges **no new taxes** and maintains current rules, including the 2-year bright-line test and full interest deductibility. To help first-home buyers, they plan to expand the First Home Loan scheme, allowing buyers to purchase with a **5% deposit** by raising the household income cap for couples to **$300,000**. * ACT Party: Firmly opposes any CGT or wealth tax. ACT proposes **removing rental loss ring-fencing** , which would allow landlords to offset rental losses against their personal income to encourage more rental property investment. * **New Zealand First** : Focuses heavily on managing immigration to curb housing demand and has chosen not to introduce new property tax modifications. **What this means for you:** Under this block, the tax environment remains friendly for investors, which could keep market competition high. However, National’s proposed expansion of First Home Loan income caps could prevent the "target from moving" by immediately qualifying your household for a low-deposit mortgage. * * * To better understand your current trajectory, how much have you **currently saved** toward your deposit, and what is your **combined household income**? Knowing if you plan to use **KiwiSaver** would also help narrow down which policies affect you most. **End captured answer** ## Publication and corrections Published and funded by Onsomble Limited. NZBrands.ai takes no view on any party or policy. [Independence](https://nzbrands.ai/about/independence/) · [Corrections](https://nzbrands.ai/about/corrections/) · [Contact](https://nzbrands.ai/about/contact/)