The Overseas Investment Office has advised that the thresholds for Australian investments in significant business assets have been increased.

Australian non-government and government investments in significant business assets are exempt from the requirement to obtain prior consent from the Overseas Investment Office if they are under certain thresholds.

The thresholds have to be adjusted each year if calculations, made in accordance with formulae set out in clauses 4 and 7 of Schedule 5 of the Overseas Investment Regulations 2005, produce an amount greater than the previous year’s amount.

A notice in the New Zealand Gazette has announced the new thresholds.

Based on the required calculations, the thresholds for the period 1 January 2019 to the close of 31 December 2019 will increase to NZ$530 million if the investor is an Australian non-government investor, and NZ$111 million if the investor is an Australian government investor.