15 JULY 2010 NEW ZEALAND GAZETTE, No. 83 2277

Renewal of Provisional Consent to the Distribution of Medicines

Pursuant to section 23(4A) of the Medicines Act 1981, the Minister of Health hereby renews the provisional consent to the sale, supply or use in New Zealand of the medicines set out in the Schedule hereto:

Schedule

Product: Lioresal Intrathecal
Active Ingredient: Baclofen 0.05mg/mL
Dosage Form: Solution for injection
New Zealand Sponsor: Novartis New Zealand Limited
Manufacturer: Novartis Pharma Stein AG, Stein, Switzerland
Note: This renewed consent is valid for two years from 6 November 2010.

Product: Lioresal Intrathecal
Active Ingredient: Baclofen 2mg/mL
Dosage Form: Solution for injection
New Zealand Sponsor: Novartis New Zealand Limited
Manufacturer: Novartis Pharma Stein AG, Stein, Switzerland
Note: This renewed consent is valid for two years from 6 November 2010.

Product: Orencia
Active Ingredient: Abatacept 262.5mg
Dosage Form: Powder for injection
New Zealand Sponsor: Bristol-Myers Squibb (NZ) Limited
Manufacturer: Bristol-Myers Squibb Holdings Pharma Limited, Manati, Puerto Rico
Note: This renewed consent is valid for two years from 9 October 2010.

Dated this 8th day of July 2010.

JANICE WILSON, Deputy Director-General, Population Health Directorate, Ministry of Health (pursuant to delegation given by the Minister of Health on 6 July 2001).

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Inland Revenue

Tax Administration Act 1994

Determination S16: Financial Arrangement Income or Expenditure from Certain Retirement Village Arrangement

This determination may be cited as “Determination S16: Financial Arrangement Income or Expenditure from Certain Retirement Village Arrangement”.

1. Explanation
   (Note that the explanation does not form part of the determination.)

   (1) This determination relates to an Occupation Right Agreement between the Operator and the Resident.

   (2) The Occupation Right Agreement constitutes a financial arrangement in which the Resident provides money to the Operator. For the duration of the Occupation Right Agreement, the Operator provides the Resident with accommodation and associated services. On finding a new Resident to live in the villa that the original Resident exited, the Operator pays the original Resident the Termination Payment.

   (3) As a lease is an excepted financial arrangement under section EW 5(9) of the Income Tax Act 2007, only the Initial Fee and Termination Payment are regarded as amounts for the purposes of calculating aggregate income or expenditure. Any income or expenditure solely attributable to the lease is disregarded.

   (4) Under section EW 6 of the Income Tax Act 2007, the amount of the gross income deemed to be derived or the expenditure deemed to be incurred by a person in respect of a financial arrangement shall not include any amounts that are solely attributable to an excepted financial arrangement that is part of the financial arrangement.

   (5) This determination prescribes the method to be used when calculating for Financial Arrangements Rules purposes the aggregate income derived or aggregate expenditure incurred in respect of the Occupation Right Agreement for both the Operator and the Resident. It details which amounts are to be included for this calculation and which amounts are attributable to an excepted financial arrangement.

   (6) This determination does not consider the spreading of income or expenditure under the Financial Arrangements Rules in relation to the Occupation Right Agreement. In this regard, see subpart EW of the Income Tax Act 2007.

2. Reference
   (1) This determination is made under section 90AC(1)(h) of the Tax Administration Act 1994.

3. Scope of determination
   (1) This determination applies only to the Occupation Right Agreement described as follows:

   The Operator and Resident enter into the Occupation Right Agreement. The Resident pays the Operator the Initial Fee. The Termination Payment (which is equal to the Initial Fee) is paid to the Resident or the Resident’s estate on termination of the Occupation Right Agreement.

   The Resident pays the Accommodation Payment to the Operator. The Accommodation Payment accrues daily.

   The Accommodation Payment each year is equal to 7 per cent of the Initial Fee. The Accommodation Payment can only ever accrue to 35 per cent of the Initial Fee.