Questions Of The Day:
Tom & Michelle are going to buy a new house.
Tom is a first-time house buyer.
And this is Michelle second time buying a house.
Tom and Michelle’s relationship are spouse.
Sale & Purchase Agreement will be under Tom (1st-time house buyer) name only.
When applying for a loan, the borrowers will be under Tom & Michelle names.
Can Tom entitle 50% Stamp duty rebate for 1st-time house buyer on Sale & Purchase Agreement (SPA)?
**Yes, Tom can still qualify for 50% Stamp Duty Rebate on SPA for 1st time buyer.
Can Tom & Michelle still qualify 50% Stamp duty rebate on loan agreement facility?
**There will not be 50% Stamp Duty rebate on total Loan Sum. The 50% rebate would be on Tom’s half share portion only. Michelle would need to pay full Stamp Duty on her half share portion.
**Subject to LHDN approval & 1st time house buyer conditions apply.
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