Property Stamp Duty 2019 Question & Answer
Client Question:
A property SPA was signed in May 2019 and purchased price RM2.555mio, how much will be the amount of Stamp Duty for MOT?
(Not under Home Ownership Campaign – HOC)
Answer:
The property stamp duty for property price RM2.55 mio are as follow :
If there is a stamp duty exemption, the property stamp duty is RM71,200.00 and without a stamp duty exemption is RM86,200.00.
Whether there is an exemption or not, it will depends on the MOT stamping date and NOT the SPA date.
According to the federal gazette, the exemption of Stamp duty will be based on MOT Stamping Date. NOT the SPA date.
And here we share the calculation for property stamp duty.
Stamp Duty Calculation Without Exemption :
For the first RM100,000, 1% : RM1000
And from RM100,001 to RM500,000, 2% : RM 8000
From RM500,001 to RM1mio, 3% : RM15,000
Subsequent amount is 4% : RM62,200
Total : RM86,200
Stamp Duty Calculation With Exemption :
For the first RM100,000, 1% : RM1000
From RM100,001 to RM500,000, 2% : RM 8000
And from RM500,001 to RM1mio, 3% : RM15,000
From RM1,000,001 to RM2.5mio, 3% : RM 45,000
Subsequent amount is 4% : RM2200
Total : RM71,200
We hope this is helpful to you.
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Melissa Lee
Online Mortgage Consultant
012-6946746 (David)
www.malaysiahousingloan.net
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