Letβs invest in people. Not property.
Opportunityβs Tax Reset will increase incomes, make homes affordable and safeguard retirement. Hereβs what it means for you.
What type of Kiwi are you?
Whatβs your annual income before tax?
What's the estimated value of your land?*
* The
value of your land should be listed on your rates bill. Or just use
the following benchmarks:
Freestanding home: land value = 70% of total home value
Townhouse or unit: land value = 50% of total home value
Apartment: land value = 20% of total home value
How do I find out my land value? Visit homes.co.nz, enter your address, and navigate to the Capital Valuation tab, and you'll find your Land value.
** Under the tax reset, rural land would be taxed less than urban land and includes land that is not zoned for development or is used for productive purposes, e.g. farmland. Lifestyle blocks that are zoned for development would be classed as urban.
Under Opportunityβs Tax Reset policy, your household would be
Your estimated annual tax bill is
The Tax Reset will improve life for every kind of Kiwi.
Meet the Kiwis of Tomorrow crew to find out how.
Citizenβs Income? Land Value Tax? What kind of Tax Reset is this!?
New Zealand runs on a tax system built in 1986. Weβre hurting from a cost-of-living crisis, unaffordable homes and creaking retirement system, because weβre taxing and spending for a different era.
Itβs time to build a future-fit tax system that delivers real security for every Kiwi, at every stage of life. To reset tax in New Zealand, weβll introduceβ¦Β
Citizen's Income
The Citizenβs Income ensures that every Kiwi has the basics to live well and contribute.Β
Almost all adults will get up to $370 ($19,400 a year) paid into their account weekly.Β
The Citizenβs Income replaces most benefits, with top-up support available for superannuitants, parents and others.
The Citizenβs Income is paid for by introducing a Land Value Tax.
Land Value Tax
A Land Value Tax makes housing affordable by shifting the tax load off working people and onto land.Β
The 1.75% annual tax applies to the value of land only and will discourage land-banking and large property portfolios - redirecting money into businesses instead.Β
For βland rich, cash poorβ Kiwis like farmers and retirees, exemptions and deferrals may apply.
Kiwisaver 2.0
To ensure that every Kiwi can retire with dignity (without the country going broke) we'll introduce a compulsory retirement contributions system.
Over time, employee and employer contribution rates will rise to 6% - building a trillion-dollar capital pool to fund infrastructure and national development.
A few notes about this tax calculator
This is a simplified calculator that provides a general estimate of what the Tax Reset might mean for your personal finances.
The calculation does not include factors such as ACC levies, Kiwisaver contributions, tax credits and benefits.
The Tax Reset will replace many benefits and tax credits with a simpler and more generous set of supplementary supports, but the current system is too complicated for us to model accurately for everyone. Anyone currently receiving a benefit will be at least as well off under the Tax Reset, and in most cases much better. To read more about how we will treat benefits, land classes and tax credits, read the full policy here.
No information you provide in this tax calculator will be stored, tracked, shared or used by Opportunity in any way.