Stamp Duty Malaysia 2023
Budget was an exciting announcement and we think one of the biggest winners are under Property and Housing.
A lot of goodies for first-time house buyer and next year will be the best time to search and buy a house.
The Stamp Duty Malaysia 2023 exemption for first-time house buyer will be the same as the previous year where for first-time home buyers that purchasing residential properties priced up to RM500,000, stamp duty exempted up to RM500,000 on sale and purchase agreements as well as loan agreements until December 2025.
This is great!
Let’s see how Stamp Duty Malaysia 2023 exemption works.
In an effort to reduce the cost of ownership of first home for Malaysian citizens, the government has proposed the following stamp duty exemptions:-
Effective Date : 1st January 2021 – 31st December 2025
Value of instruments of transfer and loan agreement for the purchase of first home
|
Exemption given on stamp duty
|
Up To RM500,000
|
100%
|
2022 STAMP DUTY SCALE
|
|
First RM100,000
|
1%
|
RM100,001 to RM500,000
|
2%
|
RM500,001 to RM1,000,000
|
3%
|
>RM1,000,000
|
4%
|
Maximum Exemption:
Property Stamp Duty
|
Stamp Duty Rates
|
Stamp Duty Amount
|
First RM100,000
|
1%
|
1,000.00
|
RM100,001 To 500,000
|
2%
|
8,000.00
|
|
Total
|
9,000.00
|
|
|
|
Loan Agreement Stamp Duty
|
|
|
RM500,000
|
0.50%
|
2,500.00
|
|
Total
|
2,500.00
|
Scenario 1:
Property Price RM300,000
Loan Amount RM270,000 (90%)
Property Stamp duty:
|
Stamp Duty Rates
|
Stamp Duty Amount (RM)
|
First RM100,000
|
1%
|
1,000.00
|
RM100,001 To RM300,000
|
2%
|
4,000.00
|
|
Total
|
5,000.00
|
|
Exemption Amount
|
5,000.00
|
|
Balance To Pay
|
0.00
|
Loan Agreement Stamp duty :
|
|
|
RM270,000
|
0.50%
|
1,350.00
|
|
Exemption Amount
|
1,350.00
|
|
Balance To Pay
|
0.00
|
Scenario 2:
Property Price RM335,000
Loan Amount RM301,500 (90%)
Property Stamp duty:
|
Stamp Duty Rates
|
Stamp Duty Amount (RM)
|
First RM100,000
|
1%
|
1,000.00
|
RM100,001 To RM335,000
|
2%
|
4,700.00
|
|
Total
|
5,700.00
|
|
Max Exemption Amount
|
9,000.00
|
|
Balance To Pay
|
0.00
|
Loan Agreement Stamp duty :
|
|
|
RM301,500
|
0.50%
|
1,507.50
|
|
Max Exemption Amount
|
2,500.00
|
|
Balance To Pay
|
0.00
|
Scenario 3:
Property Price RM250,000
Loan Amount RM225,000 (90%)
Property Stamp duty:
|
Stamp Duty Rates
|
Stamp Duty Amount (RM)
|
First RM100,000
|
1%
|
1,000.00
|
RM100,001 To RM250,000
|
2%
|
3,000.00
|
|
Total
|
4,000.00
|
|
Exemption Amount
|
4,000.00
|
|
Balance To Pay
|
0.00
|
Loan Agreement Stamp duty :
|
|
|
RM225,500
|
0.50%
|
1,127.50
|
|
Exemption Amount
|
1,127.50
|
|
Balance To Pay
|
0.00
|
Scenario 4:
Property Price RM500,000
Loan Amount RM450,000 (90%)
Property Stamp duty:
|
Stamp Duty Rates
|
Stamp Duty Amount (RM)
|
First RM100,000
|
1%
|
1,000.00
|
RM100,001 To RM500,000
|
2%
|
8,000.00
|
|
Total
|
9,000.00
|
|
Max Exemption Amount
|
9,000.00
|
|
Balance To Pay
|
0.00
|
Loan Agreement Stamp duty :
|
|
|
RM450,000
|
0.50%
|
2,250.00
|
|
Max Exemption Amount
|
2,500.00
|
|
Balance To Pay
|
0.00
|
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HI Sir,
I bought a property “Setiawangsa Residency” in the year of 2017. The condo now almost 80% done for the construction.
My question is, am I applicable to have the same for MOT waive for YR 2019 even I bought the condo in the year of 2017?
Please advise.
Thank you
Hi Farzeeq,
Sorry for the late reply, you may consult and request your SPA lawyer to apply the stamp duty exemption for you base on budget 2017 but not 2019.
You can refer the stamp duty guide line from here
http://www.hasil.gov.my/bt_goindex.php?bt_kump=5&bt_skum=5&bt_posi=1&bt_unit=1&bt_sequ=8
Dear Sir,
I have recently place a booking with Plenitude in JB. 1st time buying a property and cost is RM820k. The loan is still under processing stage. No loan documents and SPA signed. Will i still be eligible for the stamp duty exemption under budget 2019?
Hi.. i bought an apart in the year 2010 but sold it in the year 2014. Now i am planning to buy a house now. Am i eligible for the exhemption of Stampduty now?
Hi Dinesh,
Sorry to say, the application of stamp duty exemption only applicable for 1st time house buyer only.
Hello. May I know the source?
Hi, i just signed the spa on 1/1/2019, direct buy from developer. SPA price is 508800, is first house buyer. I fulfill all the requirement for the stamp duty wavier from 1/1/2019 until 30/6/2019. However, according to law firm and lembaga hasil dalam negeri, although have news release, but they never receive any black and white(memo or notice) from government. So they will still collect the stamp duty as per normal.
Hi there, just want to check. I’ve been informed that the first time buyer for service apartment is excluded for the first time buyer stamp duty exemption. Is this true? why?
Hi
I’m curious about the S&P stamp duty. Some law firm says that it is not applicable for >RM500k loan.
I’m a first time house owner. Am I eligible under the same scheme http://malaysiahousingloan.com/stamp-duty-malaysia/?
Is there a gazette showing this? Appreciate it.
Dear sir,
How about if i plan to buy a second house via agency. will this under exemption for duty stamp . Is it have to signed up the s and p form before june 30 .
I m first time buyer
Hi Liz,
If SPA sign before 30th June 2019. You must meet the following criteria in order to apply for the stamp duty exemption.
– 1st time house buyer.
– Buying completed residential property
– The property is not under commercial property like soho, sovo, sofo and serviced apartments.
– Property Price and Property Value cannot exceed RM300,000
thanks.
Me & my wife plan to buy a property at BM, penang, with price 435k on july’19, she is 1st time buyer but not for me, will entitle stamp duty exemption?
Answer:
Yes, there is. Only 50% of the property.
If the property value is RM435,000, 50% value is RM217,500.
The exemption will be for RM217,500 value.
Request your SPA lawyer to apply from LHDN, and it still subjects approval from LHDN office.
Thanks.
#malaysiahousingloan
Melissa Lee
Online Mortgage Consultant
012-6946746 (David)
http://www.malaysiahousingloan.net