Petroleum Resource Rent Tax Assessment Amendment Regulation 2013 (No. 1) (154 of 2013)
Schedule 1
Petroleum Resource Rent Tax Assessment Regulations 2005
52 After subregulation 19(1)
Insert:
(1A) A comparable uncontrolled price , or CUP , in relation to a sale of a volume or mass of project natural gas to which paragraph 24(1)(f) of the Act applies, is a price for natural gas:
(a) that was obtained for a sale in a market that the Commissioner is satisfied is a relevant market in relation to the transaction; and
(b) that the Commissioner is satisfied is an observable arm’s length price.
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