51Notional tax amount when RPM price used

51  Notional tax amount when RPM price used  (1) This section applies if a participant in a relevant operation uses an RPM price for an assessable gas in working out assessable petroleum receipts under section 22 or 24, and had an RPM price for the previous year of tax.  (2) For the purposes of paragraphs 97(1AA)(b) and 97(1BB)(b) of the Act, the amount that is to be included in working out the current period liability under subsection 97(1A) of the Act, or the current period receipts under subsection 97(1BA) of the Act, is:  EPVal (short for end product value) means the end product value for the participant in the instalment period. EPValPREV means the end product value for the participant in the previous year of tax. QAGPREV means the quantity of the assessable gas, measured by volume or mass, that was in the previous year of tax:  (a) for a relevant GTL operation—processed into project liquid that the participant was entitled to receive in the downstream stage (including any of that assessable gas that was used in that processing); or  (b) for a relevant GTE operation—consumed in the production of project electricity that the participant was entitled to receive in the downstream stage. RPMPREV means the RPM price for the assessable gas for the participant for the previous year of tax.  (3) If the participant sells a quantity of project liquid or project electricity from the operation as part of the operation in the period, and the sale is an arm’s length transaction, the market value of the quantity is taken to be the amount received for the sale.  (4) For a quantity of project liquid or project electricity to which subsection (3) does not apply, the market value of the quantity is the market value at the end of the downstream stage.  (5) If the Commissioner is not satisfied that sufficient information is available to determine a market value for the purposes of subsection (4), the market value of the quantity of project liquid or project electricity is the amount determined by the Commissioner as fair and reasonable.