Police in the Australian state of Victoria have charged Borce Ristevski with the murder of his wife, New Zealand-born Karen Ristevski.

Mr Ristevski was arrested at 7.20am (9.20am NZT) by detectives from the Missing Persons Squad, a Victoria Police spokesman said.

The 53-year-old appeared before Melbourne Magistrate's Court this morning on one count of murder.

Karen pictured with her husband Borce in this undated photo.
Karen pictured with her husband Borce in this undated photo.

Dressed in a white T-shirt and sporting a thick beard, Mr Ristevski made no application for bail and was remanded in custody and will reappear on April 18.

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Lawyer Rob Stary indicated his client would plead not guilty.

Karen Ristevski, 47, went missing from the couple's A$1 million Oakley Drive, Avondale Heights mansion on the morning on June 29, 2016.

Mr Ristevski told police she walked out of the home to "clear her head" following a minor argument about money. He reported her missing the next day.

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Karen, pictured with her brother Stephen.
Karen, pictured with her brother Stephen.

Her remains were found wedged between two logs off walking trail at Mount Macedon on February 20.

Police have never released the cause of death.

This morning, Ms Ristevski's cousin Lisa Gray, who is based in Sydney, told news.com.au she had spoken to family members in the wake of Mr Ristevski's arrest.

"I feel like this is another step in finding justice for Karen," Gray said.

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"She was a beautiful, kind, loving, caring person, very family oriented and dedicated to her work.

"I still can't quite believe she's gone."

Gray and Ms Ristesvki grew up together and were extremely close. Ms Ristevki's brother Stephen Williams lives in Melbourne.

The family is originally from New Zealand.

In March, hundreds of mourners filled St John's Uniting Church in Essendon for a private funeral service before Ms Ristevski's body was taken to her final resting place.

Mr Ristevski was one of the pallbearers carrying her coffin, while their daughter Sarah, 23, carried a framed photo of her mother to lead the procession.

Police named Mr Ristevski a suspect in his wife's death earlier this year but has always maintained his innocence.

Karen Ristevski's body was found near where her phone last pinged at Gisborne, Victoria. Photo / Supplied
Karen Ristevski's body was found near where her phone last pinged at Gisborne, Victoria. Photo / Supplied