Petroleum Resource Rent Tax Assessment Regulations 2024
PART 3
-
THE SUBSTITUTE PRICES
SECTION 30
30
COST-PLUS PRICE
The cost-plus price of an assessable gas for a taxpayer who is a participant in a relevant operation in a year of tax is:
(a) for a relevant operation that measures by volume - the volume coefficient for the year of tax; or
(b) for a relevant 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 a relevant operation in a year of tax is:
| (Upstream capital costs × Quantity coefficient) + Upstream operating costs |
| Quantity of assessable gas |
where:
(a) for a relevant operation that measures by volume - the volume coefficient for the year of tax; or
(b) for a relevant operation that measures by mass - the mass coefficient for the year of tax.
quantity of assessable gas
means the quantity, measured by volume or mass, of the assessable gas that was produced in the operation in the year of tax.
upstream capital costs
means the total amount of upstream capital costs incurred by the participants and allocated to the year of tax (see section
34
).
upstream operating costs
means the total amount of upstream operating costs incurred by the participants in the year of tax (see section
34
).
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