Explainer: What Labour’s capital gains tax means for properties worth less than they were bought for

Wellington Reporter·NZ Herald·20 Sep, 2026 07:07 PM4 mins to read‌Labour leader Chris Hipkins announced a "simple" and targeted capital gains tax alongside Ayesha Verrall and Barbara Edmonds late last year. Photo / Mark MitchellLabour’s proposed 28% capital gains tax comes with a little-known rule that could make a key difference for people who bought property at the peak of the market. The party has stressed its “simple” tax would only apply to gains made after its July 2027 valuation day and would not