It seems that Australia has 4 peacetime bravery awards, the Cross of Valour (has a vague visual similarity to the VC), the Star of Courage, the Bravery Medal and a Commendation for Brave Conduct. They were all created on the 14th Feb. 1975. At a guess New Zealand would have something similar.
To be awarded a VC you basically have to sacrifice or at least completely disregard your own life to save others in wartime and it seems as if the Cross of Valour is the peacetime equivalent. The late Tori Johnson (Lindt café siege) was awarded a Star of Courage (and there were others as well) last year but no one was awarded a Cross of Valour in 2018.
