On Mar. 31, NZ OIO updated thresholds for Australian investments.
NZ OIO issued update on the thresholds for Australian non-government and Australian government investments in New Zealand without requirement to obtain prior consent.
Background
Australian non-government and government investments in significant business assets are exempt from having to obtain prior consent from NZ OIO under certain thresholds.
Thresholds must be adjusted each year if calculations, made according to overseas investment regulations 2005, produce amount greater than previous year's amount.
2022 Thresholds
Based on the calculations, the threshold for the period Jan. 1 to Dec. 31, 2022 will increase to NZD $560mn if the investor is an Australian non-government investor.
Threshold is now NZD $117mn if the investor is an Australian government investor.
The thresholds have also been published in the New Zealand official gazette.
Dec. 2022 Thresholds Increased
On Dec. 20, 2022, NZ OIO said that on Jan. 1, 2023, the significant business assets threshold for Australian investors, for Jan. 1, 2023 to Dec. 31, 2023, will be updated.
Document dated Dec. 20, 2022, received Jan. 2, and summarized on Jan. 6.
Updated thresholds for this period will increase to: NZD 586mn, if the investor is an Australian non-government investor; NZD 123mn, if investor is an AST GVT investor.
Jul. 2023 Exemptions, Thresholds Increased
On Jul. 31, 2023, NZ OIO discussed updates with respect to farm land advertising exemptions, increases to Australian investor thresholds, recent decision summaries.
There is some uncertainty re duration of farm land advertising exemptions and at what stage in the process person needs to hold a valid exemption if they are relying on one.
It guided that a person seeking to rely on a farm land advertising exemption, needs to ensure they hold an unexpired exemption at the time the consent decision is made.
NZ OIO recommends a person to apply for their related consent with sufficient time before their advertising exemption expires; said to contact NZ OIO if any questions.
On Jan. 1, 2024, significant business assets threshold for Australian investors changes.
It will increase to NZD 618mn, if investor is an Australian non-government investor.
Said that it will increase to NZD 129mn NZ, if the investor is an AST GVT investor.
In addition, NZ OIO also explained that this increases will be valid until Dec. 31, 2024.
In Feb. 2024, NZ OIO issued edition of Panui, on overseas investment, see #202977.
Jul. 2024 Increased Thresholds
On Jul. 30, 2024, NZ OIO said significant business assets threshold for Australian investors will be revised on Jan. 1, 2025, per gazetted notice of Jul. 26, 2024.
NZ OIO explained that the thresholds for the period Jan. 1, 2025 to the close of Dec. 31, 2025 will increase to NZD 650mn, if the investor is an Australian non-government investor; and NZD 136mn, if the investor is an Australian government investor.
Regulators
NZ OIO
Entity Types
Corp; Inv Co
Reference
PR 7/30/2024; OG 2024-go3664, 7/26/2024; PR 7/31/2023; PR 12/20/2022; PR 3/31/2022; OG 2022-go1148
