PETROLEUM RESOURCE RENT TAX ASSESSMENT REGULATIONS 2005 (REPEALED)
PART 4
-
THE SUBSTITUTE PRICES
REGULATION 22
22
COST-PLUS PRICE
The cost-plus price of an assessable gas for a taxpayer who is a participant in an integrated operation in a year of tax is:
where:
(a) for an integrated operation that measures by volume - the volume coefficient for the year of tax; and
(b) for an integrated operation that measures by mass - the mass coefficient for the year of tax.
The cost-plus price of an assessable gas for a taxpayer who is a participant in an integrated operation in a year of tax is:
|
(UCC
×
QC) + UOC
QAG |
QAG
(quantity of assessable gas) is the quantity, measured by volume or mass, of the assessable gas that was produced in the operation in the year of tax.
(a) for an integrated operation that measures by volume - the volume coefficient for the year of tax; and
(b) for an integrated operation that measures by mass - the mass coefficient for the year of tax.
UCC
(upstream capital costs) is the total amount of upstream capital costs incurred by the participants and allocated to the year of tax (see regulation
25
).
UOC
(upstream operating costs) is the total amount of upstream operating costs incurred by the participants in the year of tax (see regulation
25
).
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