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Avoiding ABSD with sham deals can cause you to lose the properties
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While such investors will not face tax penalties since they have not evaded any tax, they may still lose their properties if they get into a dispute because the courts will not help them to uphold a sham arrangement.
ST ILLUSTRATION: MANNY FRANCISCO
SINGAPORE - The days of owning properties in disproportionate shares such as 99-to-1 to avoid taxes are over, because doing so can cause you to be in trouble with the taxman or, worse, lose the property in a dispute.
