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National gets its tax cut plan but with modifications

Tax cuts will come into effect next July as income tax thresholds rise.

WATCH: Prime Minister elect Christopher Luxon announces the new government.

Brent Edwards Fri, 24 Nov 2023
Key points
  • What’s at stake: New government policies announced, including tax cuts from July and a faster rate at which interest deductibility for rental properties is restored.
  • Background: This morning, the National, Act, and NZ First parties signed a coalition agreement to form the next government, which required policy compromise by all the parties. 
  • Main players: Christopher Luxon, David Seymour, Winston Peters, National, Act, NZ First. 

The National Party has abandoned plans to allow rich foreigners to buy high-end residential property in New Zealand as part of the deal required to get support for the new Coalition Government.

But incoming Prime Minister Christopher Luxon said National had still got support from New Zealand First

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Contact the Writer: brent@nbr.co.nz
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Key points
  • What’s at stake: New government policies announced, including tax cuts from July and a faster rate at which interest deductibility for rental properties is restored.
  • Background: This morning, the National, Act, and NZ First parties signed a coalition agreement to form the next government, which required policy compromise by all the parties. 
  • Main players: Christopher Luxon, David Seymour, Winston Peters, National, Act, NZ First. 
National gets its tax cut plan but with modifications
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