UPDATES ON STAMP DUTY FOR YEAR 2017

UPDATES ON STAMP DUTY FOR YEAR 2017

In an effort to reduce the cost of ownership of first home for Malaysian citizens, the government has proposed the following stamp duty exemptions:-

Value of instruments of transfer and loan agreement for the purchase of first home Exemption given on stamp duty
Up To RM300,000 100%

Value of instruments of transfer and loan agreement for the purchase of first home Exemption given on stamp duty
Between RM300,001 and RM500,000 100% on the first RM300,000 and excess is subject to the prevailing rate of stamp duty

The above exemption is applicable for sale and purchase agreement executed from 1st January 2017 to 31 December 2018.

2017 STAMP DUTY SCALE
First RM100,000 1%
RM100,001 To RM500,000 2%
RM500,001 and above 3%
2018 STAMP DUTY SCALE
First RM100,000 1%
RM100,001 To RM500,000 2%
RM500,001 To RM1,000,000 3%
RM1,000,001 and above 4%

 


Maximum Exemption:

Property Stamp Duty
First RM100,000 1%      1,000.00
RM100,001 To RM300,000 2%      4,000.00
Total      5,000.00
Loan Agreement Stamp Duty
First RM300,000 0.50%      1,500.00
Total      1,500.00

Scenario 1:
Property Price RM300,000
Loan Amount RM270,000 (90%)

Property Stamp duty:
First RM100,000 1%      1,000.00
RM100,001 To RM300,000 2%      4,000.00
Total      5,000.00
Exemption Amount      5,000.00
Balance To Pay               –  
Loan Agreement Stamp duty :
RM270,000 0.50%      1,350.00
Exemption Amount      1,350.00
Balance To Pay               –  

 


Scenario 2:
Property Price RM335,000
Loan Amount RM301,500 (90%)

Property Stamp duty :
First RM100,000 1%      1,000.00
RM100,001 To RM335,000 2%      4,700.00
Total      5,700.00
Exemption Amount      5,000.00
Balance To Pay        700.00
Loan Agreement Stamp duty :
RM301,500 0.50%      1,507.50
Exemption Amount      1,500.00
Balance To Pay            7.50

 


Scenario 3:
Property Price RM250,000
Loan Amount RM225,000 (90%)

Property Stamp duty :
First RM100,000 1%      1,000.00
RM100,001 To RM250,000 2%      3,000.00
Total      4,000.00
Exemption Amount      4,000.00
Balance To Pay               –  
Loan Agreement Stamp duty :
RM225,500 0.50%      1,127.50
Exemption Amount      1,127.50
Balance To Pay               –  

Scenario 4:
Property Price RM500,000
Loan Amount RM450,000 (90%)

Property Stamp duty :
First RM100,000 1%      1,000.00
RM100,001 To RM500,000 2%      8,000.00
Total      9,000.00
Exemption Amount      5,000.00
Balance To Pay     4,000.00
Loan Agreement Stamp duty :
RM450,000 0.50%      2,250.00
Exemption Amount      1,500.00
Balance To Pay        750.00

 

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or visit our website www.malaysiahousingloan.com

 

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