3Definitions

## 3 Definitions > actual mass of project natural gas, in relation to an integrated operation and a year of tax in which the operation produces project liquid or project electricity, means the mass of project natural gas that was used to produce project liquid or project electricity. > actual volume of project natural gas, in relation to an integrated operation and a year of tax in which the operation produces project liquid or project electricity, means the volume of project natural gas that was used to produce project liquid or project electricity. > arm’s length price means the consideration received or receivable in relation to a transaction in which the parties are dealing with each other at arm’s length. (a) of an integrated GTL operation for the purposes of calculating assessable petroleum receipts relating to sales gas: see subregulation 5(2); and (b) of an integrated GTE operation for the purposes of calculating assessable petroleum receipts relating to sales gas: see subregulation 5(3); and (c) of an integrated GTL operation for the purposes of calculating assessable petroleum receipts relating to natural gas: see subregulation 5(5); and (d) of an integrated GTE operation for the purposes of calculating assessable petroleum receipts relating to natural gas: see subregulation 5(6). > petroleum product, of an operation, means petroleum, or a product of petroleum, that is recovered, produced or processed in the operation. > phase cost, for a phase of an integrated operation, means the phase cost worked out using subregulations 32(2) and (3). > RPM price, for a participant in an integrated operation in a year of tax, has the meaning given by regulations 20 and 21. > start date, in relation to capital cost incurred in an integrated operation, means 1 January of the financial year in which the cost is incurred. > taxpayer means a person who is a participant in an integrated operation and whose assessable petroleum receipts in relation to sales gas or natural gas from that operation are to be worked out under these Regulations because of regulation 14, 15 or 16. (a) of an integrated operation for the purposes of calculating assessable petroleum receipts relating to sales gas: see subregulation 5(1); and (b) of an integrated operation for the purposes of calculating assessable petroleum receipts relating to natural gas: see subregulation 5(4).