Pitched as long-term investment in small business productivity rather than "short-term sugar hits" for consumers, NZ First would cut tax for small and medium-sized companies.

📋 NZ First: 20% Tax Rate for SMEs, September 2026 →

What it does

• Lowers the company tax rate from 28% to 20% for companies with turnover under $30 million.
• Has an estimated initial fiscal cost of about $1 billion a year, which NZ First says would be more than covered in the medium term by more companies paying tax, higher employment, a growing economy and more spending.
• Is pitched by the party as leaving more cash for reinvestment and reducing reliance on bank debt, pointing to a similar move in Australia and to OECD findings on corporate tax and growth.
• Was announced on 24 September 2026. A week before the election Peters said he would like the cut to go "much further" if implemented, calling it "just the opening gambit on the question of corporate taxation", Interest.co.nz reported.

The debate

• NZ First says lower company tax rates can improve long-run productivity growth and stimulate the creation of new companies.
• Other parties are campaigning on different company tax settings: the Greens would raise the rate to 33% for the biggest corporations while keeping 28% for small and medium firms, Te Pāti Māori would return the company rate to 33%, Labour would keep 28%, and National is campaigning on no new taxes, Interest.co.nz reported.