Does a high end DSLR camera count against my personal concession entering New Zealand?

I've been researching a trip to New Zealand and encountered the business of duty fees. (I'm new to international travel.)

I am a visitor, arriving in NZ for a holiday stay. I have an expensive item (a DSLR I use for photography while I travel. Technically, it can hang around my neck or stay strapped to my wrist) that I purchased in my home country some time ago for personal use. It's worth about $2000 NZD, so does that $2000 put me over the $700 NZD concession limit? If not, how would a $2000 item be calculated against my permitted concession in NZ?