Details of Greens ‘super-rich tax’ revealed online ahead of announcement

Sunday, 21 June 2026

The super-rich will be taxed more under a Green Party tax policy they say will make a fairer 'a tax system for all of us.'

The Green Party will announce its 2026 tax policy, on Sunday, aiming to redistribute wealth to fund critical public services. The plan promises to put more money into the pockets of 96% of New Zealanders by shifting the tax burden onto the wealthiest residents and mega-corporations.

The party posted the policy, which was originally embargoed until 2pm today, online. The announcement was then brought forward to 11:30 am.

Under the proposal, a 2.5% tax would be introduced on the net assets of the super-rich above $10 million, excluding family homes. A Capital Acquisitions Tax would also apply to received assets and gifts valued over $1 million, with exemptions for family farms and family homes.

The policy will lift the corporate tax rate to 33% for the 0.7% largest corporations, such as banks, energy companies, and the supermarket duopoly. Small and medium enterprises would keep a 28% rate to level the playing field for local businesses.

The plan also includes a 0.06% bank levy on the liabilities of the four largest banks, and enforces a 5% withholding tax rate on profits sent offshore by major tech firms. Landlord tax cuts and recent changes to the brightline test would be reversed.

The income tax changes rely on a new tax-free threshold of $10,000, creating a tax cut for most workers, alongside a new tax rate for income exceeding $160,000.

The Green Party estimated the policy would increase net revenue by $5.35 billion in 2027/28, rising to $5.94 billion by 2030/31