New Zealand Greens unveil tax plan targeting super‑rich and big firms

The Green Party of Aotearoa New Zealand released its 2026 tax policy, branding it “a tax system for all of us”. The package introduces a 2.5 % annual tax on net assets above NZ$10 million, exempting family homes, and a 33 % capital acquisitions (inheritance) tax on gifts and assets over NZ$1 million, with similar exemptions. Corporate tax for companies with annual turnover over NZ$30 million – including the supermarket duopoly, banks and energy firms – will rise to 33 %, while the rate for small‑ and medium‑size enterprises stays at 28 %. A 0.06 % levy on the total liabilities of the four big banks and a 5 % withholding tax on offshore profits of large tech firms such as Meta, Amazon and Google are also proposed. Income‑tax brackets will be restructured, creating a tax‑free threshold of NZ$10 000 so that 96 % of New Zealanders pay less tax, and raising the top rate to 45 % for income above NZ$160 000. The Greens estimate the reforms will boost net revenue by NZ$5.35 billion in 2027/28, rising to NZ$5.94 billion by 2030/31, funding health, education, infrastructure and other public services. Co‑leaders Chlöe Swarbrick and Marama Davidson said the measures will curb corporate greed, address inequality and ensure the super‑rich and mega‑corporations contribute fairly. The policy document was accidentally published online ahead of the official announcement.