NZ First's 2026 Tax Policy: What's Actually on the Table

Update, 8 November 2026: still a promise, not law. On the Electoral Commission’s preliminary count of the 7 November 2026 election, National, ACT and New Zealand First have 67 of 131 projected seats, more than the 66 needed for a majority. Labour, the Greens and Te Pāti Māori have 57, or 64 with Opportunity. Together the three parties have enough projected seats to form a government, but that changes no tax by itself. No coalition agreement had been published by 8 November; an agreement can keep, change or drop any of New Zealand First’s promises, and whatever it contains still needs a Bill to pass. The count is preliminary: official results are due on 27 November 2026, and special votes can move list seats.

If you have searched for New Zealand First’s tax policy and come away unsure what it is, that is not a failure of searching. NZ First has not published a personal income-tax policy for the 2026 election. Its one tax-rate promise is for companies, and the rest of its announcements are in other areas, and the tax commitments that circulate under its name come from its 2023 platform — a distinction its own website makes, and one that most summaries lose.

This page separates the two.

What is genuinely 2026 policy

The party’s campaign announcements include three that bear on tax.

A 20% company tax for smaller firms

On 24 September 2026, after this page was first published, the party said it “will campaign on lowering the company tax rate for SMEs to 20% for companies with turnover under $30million, from its current 28% tax rate.”

The party estimates “an initial annual fiscal cost of approximately $1billion”. It gives no start date. The promise changes the company rate only, so it does not alter the personal tax scale.

The Kiwi Kids Grant

This is NZ First’s substantive 2026 family-payment policy, and the detail comes from the party’s own page:

“The ‘Kiwi Kids Grant’ is a universal, non-means tested grant of $5000 annually for the first three years, and for each of the first, second, and third child.”

The mechanics matter for how it interacts with the tax system:

• Paid through IRD. “This regular monthly payment will be facilitated through IRD, with an option of the first-year grant for the first child being taken as an upfront lump sum to help with the costs of preparing for a first child.”
• Tax-free and additive. “The $5000 will be tax free and will be in addition to all other existing mechanisms of support that parents are currently eligible for.” That means it would sit alongside Working for Families and Best Start rather than replacing them — a different design from Opportunity’s Child Support Incomes, which explicitly absorb the payments they replace.
• Citizenship-gated. “One parent must be a New Zealand citizen to be eligible for this grant.”
• Costed. “This policy has an estimated cost of $400 million by the third year once the full cycle is established.” Note the wording — it is a figure reached in year three as the cohort builds, not a first-year cost.

KiwiSaver from birth

The party’s policy page states it “is going to make KiwiSaver enrolment compulsory at birth and there will be an automatic immediate Crown contribution of $1000 for New Zealand citizens only.”

This is a spending commitment rather than a tax change, but it belongs in a tax comparison because three parties are now proposing structural KiwiSaver changes from very different directions — Opportunity’s compulsory 12% KiwiSaver 2.0, the Greens’ income-tax restructure alongside existing settings, and this. See every party’s KiwiSaver promise side by side.

What is 2023 policy, still uncorrected

The tax commitments most often attributed to NZ First sit on a page its own site titles “2023 Election Policies”. Two are relevant:

“NZ First will legislate to make the lowest tax bracket (currently $14,000 pa) of income tax-free no later than 1 April 2027; providing an extra $28.27 a-week for workers.”

“NZ First will adjust tax brackets for inflation starting 1 April 2024, with the first adjustment taking place in 2027 and every three years thereafter.”

Both have aged in ways worth stating plainly rather than quietly reproducing:

• The bracket figure is stale. “$14,000” was the bottom bracket in 2023. The 2024 threshold changes moved it to $15,600, so a policy to make “the lowest tax bracket” tax-free would now be a larger commitment than the $28.27 a week the 2023 text quotes.
• The indexation start date has passed. “Starting 1 April 2024” is in the past, with the first adjustment named for 2027. Whether that timetable survives into a 2026 platform is not something the page answers.
• The property commitment has been delivered. The same page’s “reinstating interest tax deductibility” for landlords happened in government, so it is no longer a pending proposal.

None of this means the policies have been abandoned — the party has not said so. It means the only published version of them describes a tax system that has since changed, and no 2026 restatement exists to replace it.

What this means for comparing parties

A comparison table that prints “$14,000 tax-free threshold” in NZ First’s row alongside Labour’s 28% CGT and the Greens’ 2.5% wealth tax gives a misleading impression of parity. One is a costed, current, published 2026 policy document; the other is a three-year-old commitment quoting a threshold that no longer exists.

The honest summary is narrower: for 2026, NZ First campaigned on a lower company rate for smaller firms and on targeted family and savings payments, rather than on the personal tax scale. If the income-tax commitments are restated with current figures, for example in a coalition agreement, that will be a change worth reading as new.

Where this sits after the election

NZ First has 12 projected seats on the preliminary count. It ruled out working with Labour during the 2026 campaign. On tax it occupies broadly the same ground as National and ACT — no new taxes proposed, no restructure offered — while directing its own announcements at family costs.

For the parties proposing new taxes, see Labour’s capital gains tax explained, the Green Party’s 2026 tax plan and TOP’s land value tax. For all seven parties side by side, see every party’s 2026 tax policy compared.