Are you buying a house? This Property Stamp Duty Malaysia scale might come handy.

The property market at first seems to be challenging in the year 2020, but surprisingly the Central Bank reduces overnight policy rate (OPR), and this seems like a good year to do some borrowing.

Since the announcement of the overnight policy rate (OPR) early this year, many banks started to throw interest rates like never before.

I even heard, some banks might go up to 2.90% per annum. When a home loan interest rates hit in the range of 3%++, that is low. And Crazy!

How much is the stamp duty when buying a property?

The property stamp duty is based on the purchase price of the property or the property market value, whichever is higher. Yes, higher. The valuation is based on the valuation report issued by the government valuer.

For the first RM100,000, the property stamp duty fee is 1%.

And purchase prices between RM100,001 – RM500,000, the property stamp duty fee is 2%

Purchase prices of RM500,001 to RM1 million, the property stamp duty fee is 3%.

And purchase prices of RM1,000,001 and higher, the property stamp duty fee is 4%.

STAMP DUTY CALCULATION MALAYSIA

EXAMPLE 1 : Stamp Duty Calculation

So, imagine that you are going to buy a new property at a purchase price of RM300,000.

The property stamp duty fee for the first RM100,000 will be (100,000 X 1%) = RM1,000

The property stamp duty fee for the remaining amount will be (300,000-100,000) X 2%) = RM4,000.

This means that for a property at a purchase price of RM300,000, the property stamp duty will be RM5,000.

EXAMPLE 2: Stamp Duty Calculation

imagine that you are going to buy a new property at a purchase price of RM550,000.

Stamp duty would be charged according to 1% on RM100,000 of value, 2% on RM400,000 of value, and 3% on RM50,000 of value. So what will the stamp duty be?

• RM1,000 stamp duty charge on the first RM100,000 value
• RM8,000 stamp duty charge on the next RM400,000 value
• RM1,500 stamp duty charge on the final RM50,000 value
• RM10,500 stamp duty charge in total

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