Govt urged to waive stamp duty for first home buyers

PETALING JAYA (Sept 4): There are fiscal measures the government can implement such as to waive the stamp duty for first home scheme and certain income tax for the developers from that portfolio, says Malaysia Building Society Bhd (MBSB) president and chief executive officer Datuk Ahmad Zaini Othman.

"First-time house buyers are an important area, and the government should look at how to encourage first-time houseowners.

"How you encourage developers to provide a certain portion of the scheme to be affordable for first-time houseowners is also important," he said to reporters after launching MBSB Cheeky Savings Club's "Over the Top" here on Tuesday.

"Over the Top" is a reality TV programme for children that will run for eight consecutive weeks on TV3, starting from Sept 8, 2012.

MBSB Cheeky Savings Club, launched in April 2011, aims to increase its account holders to 50,000 in one year from close to 20,000 todate.

The savings club targets young savers to open a savings account with MBSB, enjoy good returns and be part of a club membership that offers activities and benefits.

"With a minimum of RM50, our young customers can open an account at any of our 35 branches nationwide and earn 2.5% profit rate per annum," Ahmad Zaini added. — Bernama