Election 2023 - Tax Policy
Act
Spokesperson:
David Seymour
Link to
policy here
.
David Seymour
- Take New Zealand from five tax rates on income down to two.
- By 2025/2026, there will be a return of the system of top-rate alignment where the top company, trust, and individuals income tax rates are aligned at 28%.
- Ensure to repeal the ute tax.
- Introduce a carbon tax refund which would be forecasted from Emissions Trading Scheme from December 2022.
- See more here
Green Party
Spokesperson:
James Shaw
Link to
policy here
.
James Shaw
- Ensure that tax policy contributes to the overall quality of life of New Zealanders and the sustainable development of Aotearoa New Zealand.
- New Zealand's local economy should be strengthened and foreign purchases of local assets should be limited.
- There will be an introduction of a Trust Tax that of 1.5%
- There will be an introduction of a Wealth Tax of 2.5% on net assets over $2 million for individuals or $4 million for couples.
- A new Top Rate of Income Tax, so that those earning an income of over $180,000 will be taxed 45%, so the top earners are contributing more. while people earning under $125,000 will pay less tax.
- There will be a new Corporate Tax Rate of 33%.
- Read more here and here
National
Spokesperson:
Nicola Willis
Link to
policy here
.
Nicola Willis
- Introduce FamilyBoost, which is a childcare tax rebate of up to $75 per week on the costs if childcare.
- Shifting income tax brackets to compensate for inflation.
- Expanding tax credits to reach more modest income earners.
- Increasing Working for Families tax credits for working families (from 1 April 2024).
- Fully restore interest deductibility for rental properties.
- Bring the brightline test back to two years.
- Cancel Labour’s planned fuel tax hikes which would add 12 cents per litre of petrol, or $8 for a full tank.
- Remove the Auckland Regional Fuel Tax which adds 11.5 cents per litre of petrol.
- Cancel Labour’s new App Tax on services like Uber and Airbnb and ensure the same GST rules apply to all services.
- Removing the Auckland Regional Fuel Tax.
- Not increasing fuel taxes in our first term.
- Read more here
TOP
Spokesperson:
Raf Manji
Link to
policy here
.
Raf Manji
- Ensure there is a tax-free threshold of $15,000.
- The tax rate will be 0% for those that have an income of $15,000 and below.
- The tax rate will be 20% for those that earn between $15,000 and $80,000.
- The tax rate will be 35% for those that earn between $80,000 and $180,000.
- The tax rate will be 42% for those that earn between $180,000 and $250,000.
- The tax rate will be 45% for those that earn over $250,000.
- Read more here
Te Pāti Māori
Spokesperson:
Debbie Ngarewa-Packer
Rawiri Waititi
Link to
policy here
.
Debbie Ngarewa-Packer
Rawiri Waititi
- The new wealth tax will be: 0% Net wealth under $2million will not be taxed. 2% Tax rate for net wealth over $2million. 4% Tax rate for net wealth over $5million. 8% Tax rate for net wealth over $10million.
- Te Pāti Māori will bring the company tax rate back to 33%.
- Te Pāti Māori will introduce an Overseas Financial Transfer Tax, with the rate set at 2%.
- Te Pāti Māori will implement an Undeveloped Land Tax, which will be payable on all land that has not begun to be developed within four years of purchase.
- Te Pāti Māori will implement an unoccupied dwelling tax. Te Pāti Māori will invest $500 million into adequately resourcing the Serious Fraud Office and Inland Revenue to investigate and address tax evasion.
- Read more here