From the description in Hood "An Illustrated Guide to Fungi on Wood in NZ". Also look here: http://nzfungi2.landcareresearch.co.nz/default.aspx?selected=NameDetails&NameId=1CB18B7D-36B9-11D5-9548-00D0592D548C&StateId=&Sort=&TabNum=6
Very distinctive species of bracket/shelf fungi. Gilled underside, unexpected in this sort of woody fungus. Host is a sawn Pinus sp from exotic sources. I can't find any match for this one. Help much appreciated.