Labour Party introduced a targeted capital gains tax from 1 July 2027, exempting family homes and key assets, with all revenue allocated to healthcare, including three free doctor visits a year.
RF Report
The Labour Party of New Zealand, the leading opposition party in parliament, has announced a proposal which targets capital gains tax on profits from the sale of commercial or residential properties, excluding the family home, effective from 1 July 2027.
The policy exempts family homes, farms, KiwiSaver, shares, business assets, inheritances, and personal items.
The additional tax revenue will be used to fund New Zealand’s health care system.
“Our simple, targeted tax changes will make sure those profiting from property pay their fair share, leveling the playing field for Kiwi businesses and innovation. Every dollar raised will go straight into the health system, including funding three free doctor’s visits a year for everyone with a new Medicard. This will save New Zealanders money every year,” said Labour leader Chris Hipkins.
“Because it’s part of our plan to deliver a better economy for Kiwi families, our targeted capital gains tax completely exempts the family home, farms, KiwiSaver, shares, business assets, inheritances, and any other personal items,” he added.
