Te P\u0101ti M\u0101ori has unveiled a tax plan that would mean the wealthiest 3% of people pay more tax while the rest \u2013 \u201calmost everyone\u201d \u2013 would have the first $30,000 of their income tax-free.<\/p>\n
Dubbed the “Kiwi Tax Plan”, the party said it was about fairness.<\/p>\n
\u201cThis isn’t about M\u0101ori versus non-M\u0101ori, or workers versus business. It’s about building an economy that works for the overwhelming majority of people who call Aotearoa home,\u201d said Te P\u0101ti M\u0101ori co-leader Rawiri Waititi.<\/p>\n
As part of the plan, an estimated 4.2 million people would additionally receive around $4000 a year.<\/p>\n
People earning $60,000 or less would receive a targeted tax credit on kai, equivalent to eight weeks\u2019 worth each year.<\/p>\n
A targeted wealth tax would place a 1.5% tax on net assets worth $2,000,001 to $5,000,000, 2.0% on $5,000,001 to $10,000,000, and 2.5% over $10,000,000.<\/p>\n
\u201cThis is a policy for everyone. Whether you are a cleaner, a nurse, a teacher, a tradie, a pensioner or raising a wh\u0101nau, we want you to keep more of what you earn,\u201d said Waititi.<\/p>\n
Co-leader Debbie Ngarewa-Packer added: \u201cPeople across Aotearoa are feeling the squeeze. The kai bill is up. Housing costs are up. Power is up. Everything is taking a bigger bite out of the household budget.<\/p>\n
\u201cOur answer is simple: put p\u016btea back in people\u2019s pockets and give Aotearoa some room to breathe.\u201d<\/p>\n
Where other parties stand on tax<\/p>\n
Over the weekend, National leader Christopher Luxon ruled out both an accommodation levy and a bank tax as part of a stern “no new taxes” pledge.<\/p>\n
“This is about no new taxes, and I can’t be clearer,” Luxon said. <\/p>\n
“Tax is a defining theme for this election, and the choice for Kiwis is clear. It’s either a National government promising no new taxes, or a Labour and its prospective coalition proposing at least nine new taxes.”<\/p>\n
Labour is adopting the same surplus timeline forecast in Budget 2026 but promising a different route to it. (Source: 1News)<\/p>\n
Labour, meanwhile, has proposed a 28% capital gains tax on commercial and residential property \u2014 excluding the family home, farms, KiwiSaver and share.. <\/p>\n
The tax would take effect from July 1, 2027 and was expected to raise around $700 million a year over the forecast period.<\/p>\n
The Greens have proposed a 2.5% tax on net assets above $10 million, a revived inheritance tax of 33% on inheritances worth over $1 million, and a new $10,000 tax-free threshold the party says would cut tax for 96% of New Zealanders. <\/p>\n
Co-leader Chl\u00f6e Swarbrick said the changes were justified by a “cost of greed crisis”.<\/p>\n
Party leader Christopher Luxon axed both ideas as a part of a \u2018no new taxes\u2019 election pledge. (Source: 1News)<\/p>\n
ACT leader David Seymour has pledged the party will reveal a fiscal plan showing a faster return to surplus “without imposing any new taxes”. <\/p>\n
“When politicians say they’ll only tax someone else, remember that taxes affect both buyers and sellers,” Seymour said.<\/p>\n","protected":false},"excerpt":{"rendered":"Te P\u0101ti M\u0101ori has unveiled a tax plan that would mean the wealthiest 3% of people pay more…\n","protected":false},"author":2,"featured_media":581059,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4432,111,43,139,69,135,8027,10872,270122],"class_list":["post-581058","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-maori-issues","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-politics","tag-te-pati-maori","tag-torangapu","tag-vote-2026"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/581058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=581058"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/581058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/581059"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=581058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=581058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=581058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}