Income Tax Act 2007 section 257DM

The qualifying subsidiaries requirement

Section 257DM requires that any subsidiary held by the issuing company during period B must be a qualifying subsidiary.

• This requirement applies to any subsidiary the issuing company holds at any point during period B
• Every such subsidiary must meet the conditions to be classified as a qualifying subsidiary
• The requirement covers the entire duration of period B, not just a single point in time
• If any subsidiary fails to meet the qualifying subsidiary conditions at any time during period B, this requirement is not satisfied