July 2026 · 4 min read
CGT and the election — what actually changes
A capital gains tax is on the table this election. Here's what's actually proposed — and one thing a lot of people are getting wrong.
What's on the table
Labour has proposed a 28% capital gains tax on residential investment property and commercial property, to apply from 1 July 2027 if it forms the next government. The proposal exempts the family home, KiwiSaver, farms and shares.
The bit people get wrong
The proposal taxes only the gain from 1 July 2027 onward — a 'valuation-day' basis. In plain terms, the gains you've already made would be protected.
So, on the policy as proposed, there's no built-in reason to rush and sell before the election to 'beat' the tax. That's a common misread worth pausing on — but check your own situation with an accountant.
The timing
New Zealanders vote on 7 November 2026. Whether any of this becomes law depends on the result and the coalition negotiations that follow.
What to do
If you're weighing a move, the rule changes usually matter less than your own numbers — your equity, your timing, what your place would actually sell for today.
This is general information about a policy proposal, current as at July 2026 — not financial or tax advice. Talk to an accountant about your own situation.
Check your own section
See your zoning, hazard exposure, granny-flat eligibility and a market estimate — free, from public council data.
Prefer a straight conversation? Book a free walkthrough.
Sources: Party policy announcements (2026) · New Zealand Electoral Commission (election date).