22Assessable petroleum receipts—sales gas of relevant operation with non‑arm’s length sale

22  Assessable petroleum receipts—sales gas of relevant operation with non‑arm’s length sale  (1) For the purposes of subparagraph 24(1)(d)(iii) of the Act, this section applies to sales gas that has been sold if:  (a) it is project sales gas of a relevant operation; and  (b) the sale is a non‑arm’s length transaction. Note: Paragraph 24(1)(b) of the Act applies to other sales of sales gas. Advance pricing arrangement  (2) If an advance pricing arrangement applies to a taxpayer in relation to the sale, the amount of assessable petroleum receipts of the taxpayer is the amount worked out in accordance with the arrangement. Comparable uncontrolled price  (3) The assessable petroleum receipts of a taxpayer in relation to the sale is the amount worked out under subsection (4) if:  (a) no advance pricing arrangement applies to the taxpayer in relation to the sale; and  (b) a comparable uncontrolled price exists for the sale; and  (c) no election has been made in relation to the relevant operation under section 54.  (4) The amount is the higher of:  (a) the consideration received or receivable, less any expenses payable, by the taxpayer in relation to the sale; and  (b) the comparable uncontrolled price multiplied by the taxpayer’s sale entitlement share for the sale. Residual pricing method  (5) The assessable petroleum receipts of a taxpayer in relation to the sale is the amount worked out under subsection (6) if:  (a) no advance pricing arrangement applies to the taxpayer in relation to the sale; and  (i) no comparable uncontrolled price exists for the sale; or  (ii) an election has been made in relation to the relevant operation under section 54.  (6) The amount is the higher of:  (a) the consideration received or receivable, less any expenses payable, by the taxpayer in relation to the sale; and  (b) the RPM price, of project sales gas, for the taxpayer in the year of tax in which the sale took place multiplied by the taxpayer’s sale entitlement share for the sale.