"Benefit to NZ" test over the line

Posted: 11 Aug 2022

A law change to ensure that forestry conversions by overseas investors benefit New Zealand has passed its final reading in Parliament.

Previously, overseas investors wishing to convert land, such as farm land, into forestry only needed to meet the “special forestry test”. This is a streamlined test, designed to encourage investment in production forestry.

Associate Finance Minister David Parker said the Overseas Investment (Forestry) Amendment Bill requires overseas investors to show their conversions will benefit New Zealand, by meeting the stricter “benefit to New Zealand test”.

Read more on Beehive.