A new Australian Memorial is to be built in Wellington in time for the ANZAC centenary in 2015.
Designed by Australian architecture firm Tonkin Zulaikha Greer, the $A5 million memorial will be comprised of 15 columns of Australian red sandstone, symbolic of the Australian "red centre".
It will be surrounded by eucalypt trees.
The memorial was announced by Australian prime minister Julia Gillard in Queenstown on Saturday.
Ms Gillard and her host, New Zealand prime minister John Key, are to lay wreaths at the Queenstown War Memorial on Saturday, before visiting Arrowtown.
AAP reports Ms Gillard flies back to Australia on Sunday.