# PF133: For the 2026 New Zealand general election: Who would pay more or less under the parties' tax plans, and how would those plans fund public services?

Collected 19 October 2026

[NZ Election 2026 · Edition 4 study](https://nzbrands.ai/research/nz-election-2026/editions/4)

## ChatGPT

Answer ID: d4add0d8-e156-419b-b193-068500a02a7c

# New Zealand 2026 election: Who pays more or less tax?

Policy comparison · 18 October 2026 · General election: 7 November 2026

The main dividing line in this election is whether New Zealand should continue relying largely on its existing tax system, or shift more of the tax burden towards wealth, property, land and higher incomes to fund public services and household support.

National and ACT emphasise controlling government spending, investment and limiting new taxes. Labour proposes a targeted capital gains tax to fund healthcare. The Greens and Te Pāti Māori propose more extensive tax changes, including tax relief for many ordinary earners alongside higher taxes on wealth and some businesses. The Opportunity Party (formerly TOP) proposes a broader redesign of income tax, land tax and income support. [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)[The main parties vying to form New Zealand's next government](https://www.reuters.com/world/asia-pacific/main-parties-vying-form-new-zealands-next-government-2026-10-12/)

The election is on 7 November 2026, so these are campaign proposals, not enacted changes. Some would also depend on coalition negotiations.

## 1. The parties at a glance

| Party | Who could pay less? | Who could pay more? | How public services would be funded |
| --- | --- | --- | --- |
| National | No new general tax increase promised; possible future income-tax relief, but no new formal tax-cut package announced | No new taxes promised; existing taxes remain | Economic growth, spending restraint and reprioritisation |
| Labour | Most people whose only property is their family home; eligible small businesses receive targeted tax relief | Owners selling residential investment or commercial property at a taxable gain | A 28% capital gains tax on covered property gains, with all revenue earmarked for health |
| Greens | Most income taxpayers, especially lower and middle earners | People with net assets above $10m, recipients of large inheritances or gifts, and larger companies | Wealth, inheritance and business taxes, plus changes to property-tax rules |
| Te Pāti Māori | Lower earners, through a $30,000 tax-free threshold and targeted food-cost relief | High-wealth households, companies and some property owners | Wealth, company, land and property transaction taxes |
| The Opportunity Party (TOP) | Eligible adults receiving a proposed $19,400 annual Citizen’s Income; effects vary by income | Some landowners and higher-income earners, depending on their overall tax and income-support position | Land value tax and a redesigned tax-and-transfer system |
| ACT | Potential beneficiaries of its targeted tax and savings changes | No comprehensive new general tax package announced | Spending restraint and alternative funding mechanisms, including a tourism dividend from existing revenue |
| New Zealand First | Some smaller businesses under its proposed lower company-tax rate | Depends on the final combination of business and retirement-saving changes | Targeted business reforms and existing government revenue |

This is a summary of announced policies, not a ranking of which party is best. The distinction between an announced policy and a campaign promise that has not been fully costed or implemented is important. [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's 2026 Election Policies](https://www.labour.org.nz/policy)[National’s plan to secure New Zealand’s future](https://www.national.org.nz/news/261012-nicolawillis)[Summary of 2026 election tax policies](https://kpmg.com/nz/en/insights/tax/summary-of-2026-election-tax-policies.html)

## 2. What the major tax plans mean for different people

![Sold - 9 Tavistock Place, Russley - realestate.co.nz](https://images.openai.com/static-rsc-4/H7gOg2TdhMGUKE0m34p-ggfN5IKTWa16qtQ4eLAcPUnZ-3BydF5wMgqka0pDWop9KMrIeU95xrdv5BfpXregAiAQ0jQ1mzKi4d5Q6FBNT3rwm2tdngOiz2WnuFS43fOX7VL7RMAeS6zdmNXw-CM7Z9GYOBrcJNTLMIkoGvj484c?purpose=inline)

## If you earn a salary or wages

Greens: The first $10,000 of annual income would be tax-free. Their proposed rates reduce tax for many low- and middle-income earners, while the top rate rises to 45% for income over $160,000. The party says 96% of people would receive an income-tax cut.

Te Pāti Māori: The first $30,000 would be tax-free, with higher marginal rates above that threshold. A targeted Kai Credit would also support eligible people earning $60,000 or less.

Labour: No comparable broad personal income-tax cut is central to its announced package.

National: Promises no new taxes, but has not announced a formal new income-tax reduction package for this election. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[A tax system for all of us](https://www.greens.org.nz/tax_system_for_all)[National’s plan to secure New Zealand’s future](https://www.national.org.nz/news/261012-nicolawillis)

![Who are the big spenders snapping up Auckland rentals?, All things property, under OneRoof](https://images.openai.com/static-rsc-4/vwVX5mfUEsHmDHbxpkW-f7j-rxZ6GKo1LgysmPGTwjLzmgcHWdk3CjBTsHT_XURH7nz5EVtxq-j9QScDEqgHm08f8hSbMbGEnHc2s5dlW2uMq0r1zgNt1ABE20f3APJDyIehghXIUCTBFculaXUMR58zT5t1h8uIwPhfoP87M-k?purpose=inline)

## If you own a rental or commercial property

Labour: A 28% tax would apply to gains made after 1 July 2027 when covered residential investment or commercial property is sold. The family home, farms, shares, KiwiSaver and business assets are among the exclusions. You would not pay this tax merely for continuing to own a property.

Greens: Propose restoring the 10-year bright-line period and removing interest deductibility for residential investment property.

Te Pāti Māori: Propose a 2% vacant-house tax, a 33% land-banking tax and 5% stamp duty on residential property sales, with an exemption for first-home buyers purchasing homes below $1 million.

Opportunity: Proposes an annual land value tax of 1.75% on urban land and 0.5% on rural land, with specified exemptions and deferrals.

These taxes have different triggers: a property sale, annual land ownership, a vacant home or land held for development. They should not be treated as interchangeable. [Capital Gains Tax to Level the Playing Field for Businesses, Create Jobs and Fix New Zealand's Health System](https://www.labour.org.nz/election-policy-pages/capital-gains-tax)[Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)

![Ultimate Guide To Capital Gains Tax in New Zealand | Hayden Roulston](https://images.openai.com/static-rsc-4/JJ4kC14IjjYwP0t-3m1-K9eV9aPDHnqnlzrDx57sTuKNxkJhI9gLeIXvUgZmUGtk6GenuitIXm2TRVhKhR_3Edpt9OjWQGdxPtF9y0liu9smJhBayosJeZyChJf5XmhW1ryRdVFM3F3o6a0g4n73bIBFubXJ1IDoyhK67dc1shk?purpose=inline)

## If you have substantial wealth or receive an inheritance

Greens: Propose a 2.5% annual tax on an individual's net assets above $10 million, excluding the family home, plus a 33% tax on gifts and inheritances above $1 million, subject to exemptions.

Te Pāti Māori: Propose progressive annual wealth-tax rates beginning at 1.5% on the relevant band above $2 million, increasing to 2.5% above $10 million.

Labour: Its proposed capital gains tax is narrower: it covers qualifying property gains, rather than introducing a general annual wealth or inheritance tax.

National and ACT: Have not proposed equivalent comprehensive wealth-tax packages.

The Greens estimate that their wealth tax would affect around 0.3% of New Zealanders; Te Pāti Māori estimates its wealth tax would affect around 3%. These are party estimates, not independently guaranteed outcomes. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)

![How to start a small business in NZ: Your 2024 Guide](https://images.openai.com/static-rsc-4/Y7-Z6-lOzO0D3qzXZxqGQd4lwISWMt5gJNO-8ygFsQSLUyGKsRSc0CFdXZEEMuQNLnvguLnQvZe7AvXjth-TCEDVaidT5TbXii6rRcZT7s6Ce-TMwBjTBVmjyO2IaEGNtw0QoCOrJErs15nTyVpneANsVjOrbuvJ6TMx_zBuaDU?purpose=inline)

## If you run a business

Labour: Would let businesses with annual revenue below $10 million immediately write off eligible assets costing up to $10,000, and raise the compulsory GST-registration threshold from $60,000 to $80,000. It proposes funding these changes by replacing the existing Investment Boost incentive.

Greens: Would retain the 28% company-tax rate for smaller businesses while raising it to 33% for companies with annual turnover above $30 million.

Te Pāti Māori: Would raise the company-tax rate to 33% for all companies and introduce a tax on profits transferred offshore.

New Zealand First: Proposes a 20% company-tax rate for businesses with turnover below $30 million.

Opportunity: Proposes targeted support for technology adoption, research and development, and qualifying impact companies.

For business owners, the effect depends on company size, investment spending, land ownership and how income is paid out. A lower company-tax rate does not necessarily mean every owner will pay less overall. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[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. How would the parties pay for public services?

The key difference is not just how much tax each party proposes to collect. It is also which services get additional money, whether other spending is cut, and how much revenue the proposed tax changes actually raise.

## National: contain spending and reduce debt

National says it can sustain frontline services without introducing new taxes. Its fiscal plan provides for $15.4 billion of additional health investment over four years, with $7.5 billion remaining for other cost pressures and new initiatives, including education and policing.

Its approach relies on spending discipline, economic growth and savings, including reductions in foreign aid and welfare expenditure. National's October fiscal plan forecasts a government operating surplus in 2028/29. [National’s plan to secure New Zealand’s future](https://www.national.org.nz/news/261012-nicolawillis)[National’s plan to secure New Zealand’s future](https://www.national.org.nz/news/261012-nicolawillis)

Main trade-off: service funding must fit within its spending and revenue plans. National's commitment against new taxes limits its ability to fund additional programmes through new taxation.

## Labour: earmark property gains for healthcare

Labour proposes using revenue from its 28% capital gains tax on qualifying investment and commercial property profits to fund health services. The proposed package includes three free GP visits each year, free prescriptions, free maternity scans and free cervical screening for eligible people.

Labour says all revenue from the capital gains tax would be ring-fenced for health. It also promises to return to an operating surplus by 2028/29 and reduce net debt to below 20% of GDP. [Capital Gains Tax to Level the Playing Field for Businesses, Create Jobs and Fix New Zealand's Health System](https://www.labour.org.nz/election-policy-pages/capital-gains-tax)[Labour's 2026 Election Policies](https://www.labour.org.nz/policy)

Main trade-off: revenue depends on taxable property gains and sales. Because the tax applies when a property is sold, annual receipts could fluctuate rather than provide a perfectly predictable stream.

## Greens: increase public investment through broader taxes

The Greens propose using revenue from wealth, inheritance and business taxes, alongside other tax changes, to reduce income tax for most people and support public services.

The party has also pledged to reverse National's public-service cuts and says it would invest in a stronger, better-resourced public service. [A tax system for all of us](https://www.greens.org.nz/tax_system_for_all)[Greens promise to reverse National’s Public Service cuts](https://www.greens.org.nz/greens_promise_to_reverse_national_s_public_service_cuts)

Main trade-off: the plan aims to shift more of the tax burden towards wealth and large businesses. The amount available for services would depend on the revenue collected and the practical effects of implementing the new taxes.

## Te Pāti Māori: redistribute income and wealth

Te Pāti Māori proposes raising the tax-free income threshold to $30,000, providing targeted food-cost relief and increasing taxes on wealth, companies and certain property transactions.

Its approach combines household tax relief with a broader tax base intended to support public investment and address economic inequality. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)

Main trade-off: the proposed income-tax cuts would need to be assessed alongside the additional revenue from wealth and property taxes, as well as the administrative costs and behavioural responses those taxes could generate.

## Opportunity: redesign income support and taxation

Opportunity proposes a Citizen's Income of $19,400 a year for eligible adult residents, combined with revised income-tax rates and an annual land value tax.

This is a broader restructuring of taxes and transfers rather than simply raising money for individual public services. The proposed income support would change how households receive government assistance, while the land tax would provide a different source of revenue. [Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)[Tax Tips: 2026 General Election](https://www.pwc.co.nz/insights-and-publications/regular-publications/tax-tips/2026-general-election-tax-policy-update.html)

Main trade-off: the net effect on an individual would depend on the tax they pay, their eligibility for the Citizen's Income, and how existing benefits and other transfers are changed.

## 4. What could this mean for your household?

The following are useful starting points for comparing the proposals. They are not complete household tax calculations.

| Your circumstances | Policies to examine most closely |
| --- | --- |
| Lower or middle salary, no investment property | Greens' $10,000 tax-free threshold; Te Pāti Māori's $30,000 threshold and Kai Credit |
| High salary | The proposed 45% top rate under the Greens, or 48% under Te Pāti Māori |
| Own your family home and no other substantial assets | Labour's proposed capital gains tax excludes the family home; the Greens also exclude it from their proposed wealth tax |
| Own one or more rental properties | Labour's capital gains tax, the Greens' landlord tax changes, and Te Pāti Māori's property taxes |
| Own land or a farm | Opportunity's land value tax and the parties' different treatment of farms and rural property |
| Run a small business | Labour's asset write-off changes, New Zealand First's proposed lower company-tax rate, and the Greens' company-tax threshold |
| Have substantial investments or expect a large inheritance | The Greens' wealth and capital acquisitions taxes, and Te Pāti Māori's wealth tax |

Sources: [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's 2026 Election Policies](https://www.labour.org.nz/policy)[A tax system for all of us](https://www.greens.org.nz/tax_system_for_all)

One important qualification: a tax-free threshold does not automatically make every low-income household better off overall. Benefit entitlements, other taxes, employment income, family circumstances and the treatment of existing support payments all matter.

Likewise, a tax on landlords or businesses does not necessarily translate directly into higher rents or consumer prices. The extent to which costs are passed on depends on market conditions and the response of property owners and businesses.

## 5. How to judge the funding promises

When comparing the parties' plans, four questions help separate the headline promises from their likely practical effects.

- Is the revenue dedicated to a service? Labour explicitly earmarks its proposed capital gains tax revenue for health. Other parties have broader tax-and-spending programmes.
- Are the numbers independently costed? Party estimates of tax revenue and service costs should be distinguished from independent fiscal assessments.
- What happens if revenue falls short? Property-sale profits, wealth valuations and economic growth can change. A government may need to adjust spending, find other revenue or borrow more.
- What happens to services outside the headline commitment? More funding for healthcare, for example, does not by itself establish what will happen to education, policing, transport or public-service staffing.

Independent tax analysis from PwC highlights implementation complexity, valuation issues, possible changes in taxpayer behaviour and the importance of stable rules for investment. These considerations are relevant to assessing the feasibility of the proposals, not proof that any particular plan will succeed or fail. [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)

## Bottom line

The broad choice is between funding services primarily within existing tax settings and spending limits, as National emphasises, and changing who pays tax to support different levels or types of public investment, as Labour, the Greens, Te Pāti Māori and Opportunity propose in different ways.

The practical answer to who pays more or less depends on your income, property, other assets, business interests and eligibility for government support. To establish the overall household effect, you need to compare the tax changes alongside the services and transfers you would receive—not just the headline tax rate.

For the full policy details, see the parties' official resources: [National](https://www.national.org.nz/?utm_source=chatgpt.com), [Labour](https://www.labour.org.nz/policy?utm_source=chatgpt.com), [Greens](https://www.greens.org.nz/tax_system_for_all?utm_source=chatgpt.com), [Te Pāti Māori](https://www.maoriparty.org.nz/?utm_source=chatgpt.com), [Opportunity](https://www.opportunity.org.nz/?utm_source=chatgpt.com), [ACT](https://www.act.org.nz/?utm_source=chatgpt.com) and [New Zealand First](https://www.nzfirst.nz/?utm_source=chatgpt.com).

## Gemini

Answer ID: 343cbb78-9f38-4585-ad88-f23512ea42ea

For the 2026 New Zealand general election, political parties have put forward distinctly different approaches to tax policy, shifting tax burdens across income brackets, property owners, and businesses, while utilizing varied mechanisms to fund public services and manage government books. 

---

### **1. National**
* **Who pays more or less:** National’s fiscal plan maintains current income tax settings, promising **no new taxes** and holding off on further broad-based tax cuts until the government books return to a sustained surplus. However, its proposal for compulsory KiwiSaver (scaling up employer and employee contributions to 6% each by 2032) means workers and businesses will see higher regular savings deductions from payroll.
* **Funding public services:** National relies on fiscal discipline—finding roughly $1 billion in bureaucratic savings—while targeting core public spending (such as directing over $15 billion into health), aiming to reach an operating surplus by 2028/29 without introducing new revenue-gathering taxes.

### **2. Labour**
* **Who pays more or less:** Property investors and commercial property owners would pay more under Labour via a **28% capital gains tax** on residential investment and commercial properties. Businesses also face changes through the repeal of the "Investment Boost" scheme. Conversely, small-to-medium enterprises (SMEs) benefit from a proposed Small Business Action Plan featuring a $10,000 asset write-off and an increased $80,000 GST threshold.
* **Funding public services:** Labour aims to raise approximately $11 billion in new revenue primarily by removing business investment deductions and taxing property capital gains. This revenue helps fund public services alongside a targeted operating allowance and a projected return to surplus by 2028/29.

### **3. Green Party**
* **Who pays more or less:** High-net-worth individuals and large corporations would pay significantly more. The Greens propose a **2.5% wealth tax on net wealth above $10 million**, taxes on large gifts/inheritances, and lifting the company tax rate to 33% for firms with a turnover over $30 million. In contrast, low- and middle-income workers would pay **less income tax** due to a higher tax-free threshold.
* **Funding public services:** Public services, welfare frameworks, and green infrastructure investments would be heavily expanded using revenue generated from wealth, corporate, and high-income taxes.

### **4. ACT**
* **Who pays more or less:** ACT does not introduce broad-based personal tax cuts immediately, but focuses heavily on curbing government spending. It proposes removing taxes on KiwiSaver earnings, offering relief to retirement savers. 
* **Funding public services:** Rather than raising taxes or creating new revenue streams, ACT’s plan relies on deep government spending cuts (around $9.9 billion) to shrink debt and achieve an earlier budget surplus, scaling back public-sector outlays.

### **5. New Zealand First**
* **Who pays more or less:** Smaller businesses would pay less under a targeted company tax cut from 28% down to 20% for businesses with an annual turnover under $30 million. 
* **Funding public services:** NZ First relies on the existing economic framework and framework targets (pointing to the official Budget baseline) alongside specific structural interventions, though major policy proposals (such as state acquisition initiatives) carry substantial capital costs.

### **6. Te Pāti Māori**
* **Who pays more or less:** Wealthy individuals and corporations pay more through a **wealth tax (1.5% to 2.5% on net wealth above $2 million)**, a 33% company tax rate for all firms, and a 5% tax on offshore-sent profits. Low-income earners pay **less**, shielded by a $30,000 tax-free threshold and targeted household credits.
* **Funding public services:** Public healthcare, social safety nets, housing, and public services are heavily funded by redistributive taxes targeting high-wealth brackets and corporate profits.

### **7. The Opportunity Party (TOP)**
* **Who pays more or less:** Landowners pay more under a proposed **comprehensive land value tax** (1.75% on urban and 0.5% on rural land). Regular citizens, however, receive a universal **Citizen’s Income of $19,400 a year**, shifting the tax burden toward land and capital assets while supporting low-to-middle income households.
* **Funding public services:** The land value tax acts as the primary structural revenue driver to fund the Citizen's Income and streamline public investment in long-term infrastructure and productivity.

---

### Summary of Core Divides
* **Status Quo / Fiscal Discipline:** National and ACT lean toward spending restraint, avoiding broad new taxes, and balancing books via savings or cuts.
* **Wealth & Property Redistribution:** Labour, the Greens, Te Pāti Māori, and TOP utilize structural tax shifts—such as capital gains taxes, land taxes, or wealth taxes—to fund public services while lowering taxes or providing direct payments to lower-income demographics.

## Google AI Mode

Answer ID: 869d7316-5ffc-4952-bd9a-4186246702ed

For the 2026 New Zealand general election, political parties have put forward sharply contrasting approaches to taxation, who should bear the load, and how public services are financed.

Below is an overview of who would pay more or less, and how each party proposes to fund public services based on their respective policy platforms and fiscal plans.

* * *

**Labour Party**

 * **Who pays more:** Investors and owners of residential investment and commercial property. Labour proposes a **28% capital gains tax (CGT)** on profits from investment property (with the family home, farms, KiwiSaver, and personal items fully exempt).
 * **Who pays less / benefits:** Low-to-middle-income earners and families, via targeted cost-of-living and health measures such as three free GP visits a year (via a Medicard), free prescriptions, and caps on public transport.
 * **Funding public services:** Labour states that every dollar raised from its targeted capital gains tax will be explicitly ring-fenced and invested into health (pledging an additional $15.5 billion into the health sector over the forecast period). Public services would also be supported by reversing planned public sector cuts. [NZ Labour Party]

**Green Party**

 * **Who pays more:** High-net-worth individuals and large corporations. The Greens propose a **2.5% net asset tax** on wealth above $10 million (family home exempt), a **Capital Acquisitions Tax** on large gifts/inheritances over $1 million, a corporate tax rate increase to 33% for the largest 0.7% of mega-corporations (e.g., banks and supermarkets), a bank liability levy, and reversing landlord tax cuts.
 * **Who pays less / benefits:** Approximately 96% of New Zealanders would receive an income tax cut through the introduction of a **tax-free threshold for the first $10,000** of income. [Green Party of Aotearoa New Zealand]
 * **Funding public services:** The substantial revenue generated from wealth, inheritance, and corporate taxes is designed to fund comprehensive expansion and improvements in public services, infrastructure, health systems, and ecological transitions while lowering income tax for the vast majority of earners.

**Te Pāti Māori**

 * **Who pays more:** Wealthy individuals, large landowners, and corporate entities. Their platform features a progressive wealth tax, a land value tax, and stamp duties targeting high-value assets and multi-property owners.
 * **Who pays less / benefits:** Low-income whānau, beneficiaries, and lower-to-middle income earners experiencing cost-of-living hardships.
 * **Funding public services:** Revenue from wealth and land-based taxes would be redirected into strengthening public health, whānau-centred social services, and reducing poverty-driven inequities. [Public Health Communication Centre]

**The Opportunity Party (TOP)**

 * **Who pays more:** Land and property holders through a comprehensive, broad-based **land value tax** designed to shift the tax burden away from productive labor.
 * **Who pays less / benefits:** Low- and middle-income earners, who would benefit from a restructured tax system moving toward a universal basic income (Citizen's Income) to alleviate poverty.
 * **Funding public services:** Public revenue relies on capturing economic rent from land values rather than taxing personal income directly.

**National Party**

 * **Who pays more:** No new broad-based taxes or wealth/capital gains taxes are introduced under National's platform. The economic load remains tied to existing income and consumption tax settings.
 * **Who pays less / benefits:** Taxpayers generally, as the party focuses on fiscal restraint, avoiding new tax burdens, and returning the government book to a surplus by 2028/29 without extra taxation.
 * **Funding public services:** National prioritises bringing down government debt and managing fiscal constraints through tight public expenditure control and reprioritisation within existing baselines, rather than leveraging new structural tax streams.

**ACT Party**

 * **Who pays more:** General taxpayers do not face broad new income tax increases, but ACT's fiscal strategy relies heavily on deep government spending reductions rather than tax hikes.
 * **Who pays less / benefits:** Savers, via proposals to remove tax on KiwiSaver earnings.
 * **Funding public services:** ACT’s fiscal plan aims to accelerate a return to budget surplus and reduce overall government debt by enacting approximately $9.9 billion in targeted spending cuts—such as eliminating certain ministries and trimming funding for international aid and specific environmental programmes—rather than raising revenue through new taxes.

**New Zealand First**

 * **Who pays more:** Standard broad-based taxes are largely held steady, with the party focusing instead on strict enforcement of existing tax compliance across all sectors.
 * **Who pays less / benefits:** Small-to-medium enterprises (SMEs), via a proposed company tax rate reduction from 28% to 20% for businesses with a turnover under $30 million, alongside targeted family supports like the Kiwi Kids Grant.
 * **Funding public services:** NZ First relies on strict enforcement and equal application of current tax laws to pragmatically fund public services like health and education, alongside broader economic management rather than implementing wealth or capital gains taxes.