Document ID: chunk:federal_register_of_legislation:F2024L00964:reg:31:p2
Version: federal_register_of_legislation:F2024L00964
Segment Type: reg
Provision Reference: reg 31 (pt 2/2)
Character Range: 65458–66536

by volume or mass, of project liquid; or
 (b) for a relevant GTE operation—the total quantity of project electricity;
produced in the operation in the year of tax.
 (3) If the taxpayer sells a quantity of project liquid or project electricity from the operation as part of the operation in the year of tax, 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.
 (6) If the value of QTDG is zero, the value of DPC divided by QTDG is taken to be zero.

Part 4—The residual pricing method

Division 1—The residual pricing method