M13, how on earth can you reduce the taxable income by changing
the shareholding structure of a company?
Ask this of you, a
businessman with a chargeable income of $80,000 for year of
assessment 2007 and tax charge of $11,200, decides to keep
away from paying tax by giving his wife a 50% of his
sole proprietorship company shares, thereby reducing their total
tax payable from $11,200 to $6,800. The businessman effectively
cheated IRAS by avoiding the difference of the two tax
payable, which is $4,400.
Did he commit tax
evasion?
Call KPMG, Deloittes, PWC or EY to confirm with their tax
accountant. I don't have time for you. 
At least they can get consultation fees from you.