Today, a lady asked an interesting question about stamp duty exemption.

Her question is like this.

If she bought a house with a property price of RM800,000, will she get a stamp duty exemption for the first RM500,000?

Since the stamp duty exemption is up to RM500,000.

Well. Stamp duty exemption doesn’t work like that.

There are a few criteria for stamp duty exemption.

And one of the most vital is this.

The Purchase Price or the Property Market Value ( determined by Jabatan Penilaian Dan Perkhidmatan Harta- JPPH) must not exceed RM500,000.

If the SPA stated RM800,000 you don’t qualify for the stamp duty exemption.

The purpose of introducing stamp duty exemption in the first place is to allow first-time house buyer to buy a house at a lower cost.

And of course, the price of the house should be within the low and middle-income range. Because the government is trying to help this range of people.

Let be honest, if you own a house above RM500,000, most people are well to do or at least have a good income.

Just to refresh. These are the stamp duty charges.

PROPERTY PRICE OR MARKET VALUE ( WHICHEVER IF HIGHER) / RATES

For the first RM100,000 : 1%

From RM100,001 to RM500,000: 2%

From RM500,001 to RM1mio: 3%

The subsequent amount :4%

Let’s do some calculation.

Let see if a person buys a house with a SPA price of RM500,000.

How much is the stamp duty?

For the first RM100,000 :1%

RM100,000 X 1% = RM1000

From RM100,001 to RM500,000: 2%

RM400,000 X 2% = RM8000

TOTAL STAMP DUTY: RM9000

If you are a first-time house buyer, you might be entitled to this stamp duty exemption.

Read more here.

https://malaysiahousingloan.com/stamp-duty-in-malaysia/

Happy Learning!

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