Petroleum Resource Rent Tax Assessment Regulation 2015
27Netback price
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27 Netback price
(1) The netback price of an assessable gas for a taxpayer who is a participant in an integrated operation in a year of tax is: Image unavailable in extracted text where:
DCC (short for downstream capital costs) means the total amount of downstream capital costs incurred by the participants and allocated to the year of tax (see section 30).
DOC (short for downstream operating costs) means the total amount of downstream operating costs incurred by the participants in the year of tax (see section 30).
DPC (short for downstream personal costs) means the total amount of downstream personal costs of the taxpayer for the year of tax.
EPVal (short for end product value) means:
(a) if an election under section 52 has been made for the operation—the amount worked out under subsection (2); or
(b) otherwise—the total market value in the year of tax of:
(i) for an integrated GTL operation—the project liquid produced; or
(ii) for an integrated GTE operation—the project electricity produced.
QC (short for quantity coefficient) means:
(a) for an integrated operation that measures by volume—the volume coefficient for the year of tax; or
(b) for an integrated operation that measures by mass—the mass coefficient for the year of tax.
QTDG (short for quantity of taxpayer’s downstream gas) means the quantity, measured by volume or mass, of the assessable gas that was produced in the operation in the year of tax and:
(a) for an integrated GTL operation—processed into project liquid that the taxpayer was entitled to receive (including any of that gas that was used in that processing); or
(b) for an integrated GTE operation—consumed in the production of project electricity that the taxpayer was entitled to receive.
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.
(2) For the purposes of paragraph (a) of the definition of EPVal in subsection (1), work out the following for the taxpayer for the year of tax: Image unavailable in extracted text where:
market value of taxpayer product means the market value of the quantity of taxpayer product.
quantity of taxpayer product means the quantity, measured by volume or mass, of: