The Overseas Investment Office (OIO) has announced an increase in the thresholds for Australian investments in significant business assets in New Zealand.
The thresholds in effect from 1 January to 31 December 2019 are:
- $530m, if the investor is an Australian non-government investor; and
- $111m, if the investor is an Australian government investor.
This year’s thresholds are $516m for Australian non-government investors, and $111m for Australian government investors. The thresholds for 2017 were $501m for Australian non-government investors and $105m Australian for government investors.
Under certain thresholds, Australian non-government and government investments in significant business assets are not required to obtain consent from the OIO.
The thresholds have to be adjusted each year if amounts produced by calculations made in accordance with formulae set out in clauses 4 and 7 of “Schedule 5 of the Overseas Investment Regulations 2005” are greater than the previous year’s thresholds.