CTHRepealedLegislation
Petroleum Resource Rent Tax Assessment Regulations 2005
19The comparable uncontrolled price
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## 19 The comparable uncontrolled price
(1) A comparable uncontrolled price, or CUP, in relation to a relevant transaction for a volume or mass of project sales gas, is a price for sales 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
(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
(2) In determining whether a market is relevant, the demand and supply characteristics of the market must be taken into account, including:
(b) geographic differences between the production facilities and the product delivery point of the sales gas or natural gas sold in the market; and
(a) the terms of contracts usual in the market, including volumes, discounts, exchange exposures and other relevant conditions that would reasonably be considered to affect the price;