FIRST-TIME homebuyers are now exempt from certain stamp duty charges.
Full stamp duty exemption will be given to both instrument of transfer (Stamp Duty (MOT)**) and loan agreement (Stamp Duty (Loan)**) for the purchase of a first home worth not more than RM500,000.!!
For example, if you’re buying a house amounting RM500,000. The total stamp duty is :-
SD Fee 1% : For First RM100k = RM1000.00
SD Fee 2% : RM100.k To RM500k = RM8,000.00
Total stamp duty is RM9,000.00
(Great exemption for FIRST TIME BUYER) and dont forget, there is also exemption for Stamp Duty for Loan agreement
In this example\n0.5% * 400,000.00 (Loan Amount)= RM2,000/-
Total RM11,000/- saved!!
WHAT ARE YOU WAITING FOR, quickly buy a good property.
Tips: Dont buy high price condo or apartment for investment except own stay or at a very good location
1) This exemption will be for the Sale and Purchase Agreement that is completed between 1 January 2021 to 31 December 2025.
2) Only applicable to residential properties, excluding SOHO/SOFO/SOVO types, as well as serviced residences.
3) First-time homebuyers must be Malaysian citizens.
4) The buyer must not already own a property; if he/she has inherited a property or was given one (no matter if individual or joint ownership), is no longer eligible.
HOC only applies for properties sold between 1 June 2020 and 31 December 2021.
1)There is a full stamp duty exemption on the Memorandum of Transfer (MOT) and Sale and Purchase Agreement (SPA) for homes that are priced between RM300,001 (below is not eligible) and RM1million.
2) Properties that fall in the RM1million -RM2.5 million price range will be subject to a reduced stamp duty of 3% (normal is 4%), where the 3% stamp duty will only be imposed on the balance amount after RM1 million.
a) First 1m =exempted
b) Remaining 1m*3%=30k
The 0.5% stamp duty charge on your housing loan agreement are also fully exempted – this applies for properties priced from RM300,00 to RM2.5 million.
3) Homebuyers will get to enjoy a (minimum) additional 10% discount on the purchase price\n(This discount must be reflected in the Sale and Purchase Agreement (SPA)).
4) Property developers are required to offer at least a 10% discount for their residential projects in order to register their development(s) under the HOC.
PRGT (Real Property Gain Tax)
Budget 2022- Abolishment of the Real Property Gains Tax (RPGT) for houses intended to be disposed of from the sixth year onwards by Malaysians and permanent residents. (take effect from Jan 1, 2022)
We really hope that the RPGT announcement in Budget 2022 will stimulate and boost sales in the property market in 2022.
With regard to commercial properties or properties owned by companies, they are still subject to payment of RPGT at the rate of 10% imposed by the government