Q & A : Stamp Duty exemption for first-time house buyer 2020
We received these enquiries on Sunday.
The enquiries are about Stamp Duty exemption for first-time house buyer.
And we thought why not share the conversation to benefit all.
Mr. E :
Hi I’m Mr. E here. sorry to bother you.
Just have question after read thru all your helpful tips.
1. if i m to buy a house between july 1 2019- 2020, 300k-500k (not direct/sub sales of new project. it is a second hand house). am i eligible for exempted for stamp duty?(first time buyer)
For a sub sale house, price between rm300k to rm500k, the stamp duty exemption for first-time house buyer, is from 1st July 2019 until 31st December 2020.
You have to apply for the stamp duty exemption. Remind your lawyer to apply. You also can confirm the stamp duty exemption details with LHDN @inland revenue department. Thanks.
Mr. E :
Hi sorry David if I m to purchase a 300k second hand house in this year . Am I eligible for automatic stamp duty?
If you purchase a second-hand house Rm300k and below. You can try to apply for the exemption.
Anything above Rm300k, buy after 1st July 2019.
One thing you want to be careful about is the date of purchase.
If before 30th June 2019, make sure the property does not exceed rm300k.
The property value also cannot exceed rm300k.
If you buy the property for Rm300k, and the property value is Rm310k. You might not get the exemption.
There is no automatic you will get. You have to ask your lawyer to apply for you. If your lawyer doesn’t apply, then you don’t get it.
Mr. E :
Thanks for great info. much appreciated
You’re most welcome.?