News about stamp duty

Datuk Seri Fateh Iskandar Mansor said it is not the best time for the government to implement such measures as the local property market is slowly recovering from the Covid-19 pandemic and headwinds from rising inflationary pressures.

With i-Miliki, an initiative under Putrajaya’s Home Ownership Programme 2022/2023 or HOPE, first-time purchasers of homes priced RM500,000 and below will be fully exempted from paying the stamp duties on the Memorandum of Transfer (MOT) and loan agreement, while first-time purchasers of residential units priced above RM500,000 up to RM1 million will receive 75% remittance on the two stamp duties.

A 100% stamp duty exemption is given to first-time homebuyers to purchase homes priced not more than RM500,000, while a 75% stamp duty exemption is given to those buying houses priced between RM500,001 and RM1 million, the ministry said.

The latest ABSD increase hits foreigners most with the doubling of the rate to 60%.

The 100% waiver was announced in July by the previous administration and is valid until Dec 31, 2025.

Meanwhile, the government has proposed a stamp duty fee of RM10 on transfers of property by way of love and affection between family members, such as husband to wife, father to child, or grandfather to grandson.

MELBOURNE (May 23): Victoria state government will waive stamp duty on newly completed homes that have been unsold for a year or more and from July it will extend the stamp duty concession to new off-the-plan purchases worth up to A$1 million (RM3.

PETALING JAYA (Nov 9): The extension of the stamp duty exemptions for instrument of transfer and loan agreement for first-time home purchase priced up to RM500,000 to 2025 is only an extension of the stamp duty exemptions provided in Budget 2019-20, says Affin Hwang Capital senior associate director, equity research Loong Chee Wei.

KUALA LUMPUR (Nov 6): The government has announced that the stamp duty exemption on loan agreements and instruments of transfer given to rescuing contractors and the original house purchasers will be extended for another five years.

  PETALING JAYA (Nov 6): To further promote homeownership, the Government has announced a full stamp duty exemption on instruments of transfer and loan agreement for first-time homebuyers on residential properties priced RM500,000 and below.