PETROLEUM RESOURCE RENT TAX ASSESSMENT ACT 1987

PART V - LIABILITY TO TAXATION  

Division 2 - Assessable receipts  

SECTION 26   26   AMOUNTS NOTIONALLY DERIVED WHERE NO SALE OF PETROLEUM ETC.  


Where paragraph 24(1)(c), 24(1)(e) or 25(c) applies in relation to any marketable petroleum commodity, the market value or other amount referred to in that paragraph in relation to the marketable petroleum commodity shall, for the purposes of this Act, be taken to have been derived by the person or persons entitled to receive receipts from the sale of marketable petroleum commodities produced in relation to the project and, where there are 2 or more such persons, in the same respective shares as those persons are or were entitled to receive those receipts.



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