Petroleum Resource Rent Tax Assessment Regulations 2005
22Cost‑plus price
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22 Cost‑plus price
The cost‑plus price of an assessable gas for a taxpayer who is a participant in an integrated operation in a year of tax is:
QAG (quantity of assessable gas) is the quantity, measured by volume or mass, of the assessable gas that was produced in the operation in the year of tax.
UCC (upstream capital costs) is the total amount of upstream capital costs incurred by the participants and allocated to the year of tax (see regulation 25).
UOC (upstream operating costs) is the total amount of upstream operating costs incurred by the participants in the year of tax (see regulation 25).