Question:

Hi, what would the property stamp duty fee be if it includes stamp duty exemption for purchase price RM500k and RM550k?
Thanks in advance.

Answer:

Hi N, thanks for the question.

Here is The Property Stamp Duty in Malaysia scale.

For the first RM100,000, 1%

From RM100,001 to RM500,000, 2%

From RM500,001 to RM1mio, 3%

The subsequent amount is 4%

For property price RM500,000, the calculation as below.

RM100,000 x 1% = RM1000

RM400,000 x 2% = RM8000

Total stamp duty RM9000.

There is a property stamp duty exemption up to RM9000 if you’re a first-time house buyer.

If you are entitled, you need to pay RM9000 – RM9000= RM0. And if you’re not, you have to pay RM9000.

For property price RM550,000, the calculation as below.

RM100,000 x 1% = RM1000

RM400,000 x 2% = RM8000

RM50,000 x 3% = RM1500

Total stamp duty RM10,500.

For your information, the property stamps duty exemption only applicable for property value less than RM500,000. Therefore, in this case, there isn’t any exemption.

We hope this answers your question.

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