Under Labour, every New Zealander will get three free doctor’s visits a year - paid for through simple, targeted changes to the tax system that make sure those profiting from property pay their fair share.
Labour will ensure New Zealand has a strong, growing economy that rewards hard work and pays for the services we all rely on, like healthcare.
Too much of our national wealth is tied up in property instead of more productive parts of the economy that lift wages and drive innovation. It’s one of the reasons New Zealand is falling behind. Labour will change that.
We’ll introduce a simple, targeted tax on the profit made after 1 July 2027 when a commercial property or residential property (excluding the family home) is sold. Any gain from before that date won’t be taxed.
Every dollar raised will go directly to our health system and will pay for three free doctor’s visits for everyone, every year.
Nine out of 10 New Zealanders do not own more than one property, or a commercial property, so they won’t pay the tax. But every New Zealander will get three free doctor’s visits a year with their new Medicard.
No one should have to choose between seeing a doctor and putting food on the table, but that’s the reality for far too many New Zealanders. Under Christopher Luxon, one in six New Zealanders cannot afford to visit their doctor when they are sick. It doesn’t have to be this way.
Our plan means that every New Zealander will get a new Medicard that they can use to access three free doctor’s visits each year at their enrolled practice.
New Zealand cannot realise its potential, create jobs, or deliver the services we all deserve through property investment alone.
Our targeted capital gains tax will level the playing field for Kiwi businesses and innovation - helping grow wealth and create jobs.
Labour is backing New Zealand’s potential so people can build good, healthy lives here at home - with a more productive economy where hard work is rewarded and everyone can get ahead.
Here’s how it works:
It only applies to the profit when a commercial or residential property is sold, excluding the family home.
Because it’s part of our plan to deliver a better economy for Kiwi families, our targeted capital gains tax completely exempts the family home, farms, KiwiSaver, shares, business assets, inheritances, and any other personal items.
The tax rate will be 28% - which is the same as the company tax rate, meaning property profits will be taxed like other business activity.
No one will pay a single dollar on any gain made before 1 July 2027.
Labour will ensure New Zealand is a country that backs its people and its own potential - a place where our kids want to stay and build their lives.
A tax system that channels investment into property rather than Kiwi ideas and businesses is not doing its job. Ours will - by unlocking capital for the productive economy and funding free doctors visits for all.
That’s what’s possible - a strong economy and free doctor’s visits for everyone.
