Green Party Tax Policy 2026 - Proposed Tax Changes in New Zealand

Goal:

• Green Party’s goal is to ensure that large and rich corporations contribute their share, decrease tax on waged and salaried workers, and fund social services that are used by all.

• Green Party will:

  • Address inequality

  • Tackle corporate greed

  • Create fair income tax rates for people earning wages or salaries

Address Inequality

• The Green Party states that “super-rich” people pay about 9% in tax, which is less than what minimum wage workers pay and half of what nurses, teachers, hairdressers and tradies pay.

  • The Green Party will address this by implementing a 2.5% annual tax on the net assets of people with a net worth of more than $10 million.

    • Net worth equals assets such as properties, companies or shares, minus liabilities such as mortgages and other debts.

    • Artworks worth more than $50,000 would be valued at the amount for which they are insured.

• The Green Party states that significant wealth can be passed between generations through inheritance.

  • The Green Party proposes a tax on wealth received over $1 million, with family homes and family farms being exempt.

  • The proposed tax would be 33% of the value of inheritances and gifts over $1 million.

Tackling Corporate Greed

• The Green Party states that corporate tax cuts do not affect large corporate entities’ prices, wages or job availability.

  • The Green Party proposes supporting small and medium businesses by:

    • Increasing the corporate tax rate for the largest 0.7% of corporations to 33%.

    • Keeping the corporate tax rate for small and medium enterprises at 28%.

    • Introducing a 0.06% bank levy on liabilities for the four largest banks.

      • This would apply to banks with liabilities worth more than $100 billion.

    • Introducing a 5% withholding tax rate for big technology companies on service and licence fees.

    • Reversing landlord tax changes:

      • Interest deductibility for residential property would be removed.

      • The bright-line test period would be restored to 10 years.

Fair Income Tax for Working People

• The first $10,000 earned annually would be tax-free.

• A new 45% tax bracket would apply to income over $160,000.