Story perspectives

Labour to levy capital gains tax on property sales

By Drooid · Sep 11, 2026, 8:34 AM UTC · How we work

Summary

Story summary

Labour Party will levy a capital gains tax on residential and commercial property sales in July next year.
National campaign chair Simeon Brown accused MP Willie Jackson of creating confusion over the tax.
Advertising Standards Authority said National’s brochure was misleading for linking KiwiSaver to the tax.
Labour’s policy exempts KiwiSaver and business assets but taxes all other commercial property sales.

History

Historical Context

In 1985 Roger Douglas’s “Rogernomics” reshaped New Zealand taxation, introducing GST and halving the top income rate, yet no broad capital-gains tax was created. The 2015 bright-line test later taxed property sold within two years, showing a pattern of targeting speculation. A 2004 IRD sweep collected NZ$106.6 million, underscoring the revenue appeal behind Labour’s current proposal to tax all non-KiwiSaver property sales, opposed by National’s Simeon Brown.

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Story summary

Labour Party will levy a capital gains tax on residential and commercial property sales in July next year.
National campaign chair Simeon Brown accused MP Willie Jackson of creating confusion over the tax.
Advertising Standards Authority said National’s brochure was misleading for linking KiwiSaver to the tax.
Labour’s policy exempts KiwiSaver and business assets but taxes all other commercial property sales.

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