NZ Budget 2026
Budget night dashboard. Twelve tax and benefit measures we're watching for the Thursday 28 May 2026 announcement. Post-Budget this page fills in confirmed figures live — calculators follow within 2-3 hours.
Thursday 28 May 2026 · 2:00 pm NZST
The Minister of Finance delivers the 2026 NZ Budget. This page updates from 4 pm NZST with confirmed figures. Bookmark it or check our pre-Budget preview for deeper analysis of each watch-item.
Before Budget night
See what changes under 2026-27 — and what stays
The legislated KiwiSaver step-up to 3.5%/4% is locked in from 1 April 2026. Run your numbers now under the 2026-27 toggle on any calculator to see the baseline — then check back here on Budget night to see how new measures shift the result.
Watch list — 12 measures
Income tax
PAYE thresholds
WatchingCurrent: $15,600 / $53,500 / $78,100 / $180,000 (10.5/17.5/30/33/39%)
What to watch: Likely unchanged (Budget 2024 cuts already legislated). Watch for indexation announcement.
IETC abatement thresholds
WatchingCurrent: Abatement starts $48,000, ends $66,667; 13c per $
What to watch: Possible adjustment to abatement floor.
KiwiSaver
Employer minimum match
WatchingCurrent: 3% (2025-26) → 3.5% (2026-27 legislated)
What to watch: Confirm the legislated 3.5% step still applies; watch for further lift.
Default employee contribution rate
WatchingCurrent: 3% (2025-26) → 4% (2026-27 legislated)
What to watch: Confirm the auto-step to 4% still applies for new enrolments.
Government member contribution
WatchingCurrent: $260.72 / year (halved from $521.43 in Budget 2024)
What to watch: Restoration possible after political pressure; could move either way.
Working for Families
FTC / IWTC / Best Start weekly amounts
WatchingCurrent: FTC $144 first / $117 subsequent, IWTC $97.50 base, Best Start $73/wk
What to watch: Inflation-adjustment likely; abatement-rate tweaks possible.
WfF abatement threshold + rate
WatchingCurrent: $44,900 threshold / 27% rate
What to watch: Abatement threshold lifts most years to track CPI/AWE.
Student loan
Repayment threshold (NZ-based)
WatchingCurrent: $24,128 / year (12% on income above)
What to watch: Historically flat; could be CPI-indexed.
ACC
ACC earner levy
WatchingCurrent: 2026-27: 1.75% on earnings up to $156,641 (max $2,741.22)
What to watch: ACC sets levies on a separate cycle but Budget Estimates reference. Confirm cap.
Property
BrightLine test period
WatchingCurrent: 2 years (reverted from 10 yrs on 1 Jul 2024)
What to watch: Likely unchanged. Watch for any political signal of restoration.
Investment
FIF $50,000 de-minimis threshold
WatchingCurrent: $50,000 (cost basis, foreign shares)
What to watch: Possible lift to broaden simplified-investor exemption.
GST
GST rate
WatchingCurrent: 15%
What to watch: Untouched since 2010. Very unlikely to move.
Already locked for 2026-27 (regardless of Budget)
- KiwiSaver employer minimum match steps up to 3.5% on 1 April 2026 (from 3%). Step-up to 4% on 1 April 2027 also legislated.
- KiwiSaver default employee rate steps up to 4% on 1 April 2026 (from 3%). Existing 3% contributors auto-move unless they apply for a temporary rate reduction.
- PAYE thresholds remain as set by Budget 2024 (effective 31 July 2024): 10.5% / 17.5% / 30% / 33% / 39%.
- BrightLine remains 2 years (reverted from 10 years on 1 July 2024).
- Student loan threshold $24,128, rate 12% unchanged unless Budget announces otherwise.
FAQ
When is NZ Budget 2026 announced and what tax changes might it bring?
The Budget is delivered at 2:00 pm NZST on Thursday 28 May 2026. Watch-list covers 12 items including PAYE thresholds, KiwiSaver employer match step-up, government KiwiSaver contribution, Working for Families amounts and abatement, student loan threshold, ACC levy reset, BrightLine, FIF de-minimis. The legislated KiwiSaver step-up to 3.5%/4% takes effect 1 April 2026 regardless of the Budget.
Will Budget 2026 affect my 2025-26 tax return?
Almost no. The 2025-26 NZ tax year ended 31 March 2026 — eight weeks before Budget night. Almost all Budget measures start from 1 April 2026 (the 2026-27 year already in progress) or 1 April 2027 (the next year). Run your IR3 tax refund estimator against the 2025-26 settings even after Budget night — those values are locked.
Is the legislated KiwiSaver employer match going to happen regardless of the Budget?
Yes. The auto-step from 3% to 3.5% employer match and 3% to 4% default employee rate is legislated for 2026-27 and applies regardless of Budget announcements. Run the KiwiSaver calculator with the 2026-27 toggle to see the impact on your projection.
Where can I read the official Budget documents?
Budget papers go live at budget.govt.nz at 2:00 pm on 28 May. The IRD post-Budget tax policy summary at taxpolicy.ird.govt.nz is the fastest source for personal-tax numeric changes. Treasury Budget Policy Statement and Estimates Volume 1 (Revenue) are the primary documents.
Official sources
- budget.govt.nz — Budget papers go live 2:00 pm on 28 May
- taxpolicy.ird.govt.nz — IRD post-Budget tax policy summary
- treasury.govt.nz — Treasury Budget Estimates Vol. 1 (Revenue)
Last updated 2026-05-12. This page updates live from 4 pm NZST on 28 May with confirmed Budget values. Calculator URLs use the central tax-year config and switch to 2026-27 automatically when the toggle is set.