Question 2 (35 marks) Michael is a Hong Kong permanent resident. He is in the course of negotiating with a potential seller in respect of a property which he intends to acquire as his family home. The property will be the first property Michael has acquired in Hong Kong. The offered price is $18 million. The seller is a company incorporated in Hong Kong, whose only asset is the residential property which it wholly owns. It has proposed to Michael that he could save substantial stamp duty costs if he acquires all of the shares in the company instead of the property itself. Required: (1) Advise Michael on the Hong Kong stamp duty implications: (1) if he acquires the property; and (15 marks) (2) if he acquires all the shares in the company. (10 marks) (11) Identify the potential tax risks to Michael if he acquires all the shares in the company, and the course(s) of action he might take to protect his interests. (10 marks)