New thresholds for Australian investments in Significant Business Assets have been announced for the period from 1 January 2020 to 31 December 2020.

Land Information New Zealand says 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.

LINZ says 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".

"Based on the above calculations," LINZ says, "the thresholds for the period 1 January 2020 to the close of 31 December 2020 will increase to:

• $537 million (New Zealand dollars), if the investor is an Australian non-government investor; and
• $113 million (New Zealand dollars), if the investor is an Australian government investor."

[Note that Schedule 5 was revoked on 30 December 2018 by regulation 7 of the Overseas Investment (CPTPP) Amendment Regulations 2018. However, a notice under (revoked) clause 11 of Schedule 5 appeared in the New Zealand Gazette on 13 November 2019.]