Client Question:
Hi, If I buy property price 450k SUB SALE first timer. Am I entitle for the exemption of stamp duty?

MHL Answer:
This year there is two stamp duty exemption for a first-time house buyer.
The difference between these two exemptions is the property price.

The first exemption.
1. If you buy a house and stamp the Sale and Purchase Agreement between 1st January 2019 to 30th June 2019
2. Property price or property market value must be below RM300,000.
If exceeded, you’re not entitled.

Please do take note that if your property price is RM300,000 and Property value is RM350,000. You will not entitle for the first exemption.

The second exemption.
1. If you buy a house and stamp the Sale and Purchase Agreement between 1st July 2019 to 30th December 2020.
2. Property price or property market value must be below RM500,000.
If exceeded, you’re not entitled.

And if your property price is RM500,000 and Property value is RM550,000. You will not entitle for the second exemption.

So, back to your question.
It will depend on when do you purchase the property.
If you buy before 30th June 2019, you’re not entitled.

If you buy it after 1st July 2019, then you’re entitled.

Even though you’re entitled, you are required to apply for the exemption. Therefore, please remind your lawyer to make the necessary submission to the stamp office.

So, we hope this is helpful to you.

Thanks.

Melissa Lee
Online Mortgage Consultant
012-6946746
www.malaysiahousingloan.net

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