29RPM price where information is not available or where non‑commercial tolling fee is paid

29  RPM price where information is not available or where non‑commercial tolling fee is paid  (1) This section applies if:  (a) a taxpayer does not have sufficient information to work out the taxpayer’s RPM price for an assessable gas for a year of tax by applying the residual pricing method (see subsection 33(1)); or  (b) the taxpayer’s RPM price for an assessable gas for a year of tax cannot be worked out because of subsection 33(2) (non‑commercial tolling fees).  (2) If the taxpayer and the Commissioner are able to agree on a price for the purposes of this subsection, that price is the RPM price.  (3) If the Commissioner and the taxpayer cannot agree on a price, and the Commissioner is satisfied that a price worked out:  (a) by the Commissioner applying the residual pricing method (disregarding section 33); and  (b) using the information available from other participants in the relevant operation; is a fair and reasonable price, that price is the RPM price.  (4) If the Commissioner and the participant cannot agree on a price, but the Commissioner is not satisfied as to a price under subsection (3), the RPM price is the price determined by the Commissioner as fair and reasonable. Example 1: If a participant incurs direct costs in the participant’s own right in relation to the relevant operation, and there is no agreement between the participants as to how those costs are to be shared amongst them, information about those direct costs may not be available to the other participants to allow them to work out the RPM price. Example 2: This section would apply if a person becomes a participant in the relevant operation, but does not have access to all the information required to work out the RPM price. Example 3: This section would apply if a participant in a relevant operation, using the residual pricing method, has practical or commercial difficulties in accessing the information needed to apply that method because other participants in the operation are using one of the other methods prescribed by this instrument.