stamp duty exemption

First-time house buyers will continue to enjoy a 100 per cent stamp duty exemption for purchases not exceeding RM500,000 via the Malaysian Home Ownership Initiative (i-Miliki) as provided for under Bu

The stamp duty exemption for real estate transfer documents and loan agreements for houses worth more than RM500,000 to RM1 million will be increased from 50 to 75 pct until Dec 31 next year.

Ismail Sabri today announced a 100 per cent stamp duty exemption for first-time homeowners of properties priced RM500,000 and below through the Keluarga Malaysia Home Ownership Initiative (i-MILIKI).

The government has no plans to provide stamp duty exemption for transfer of property from parents to children at this time.

The five-year extension of the stamp duty exemption, aimed at reviving abandoned projects, would benefit both contractors and house buyers.

REHDA also supported the government's announcement of lowering income tax by one percentage point for the chargeable income band of RM50,001-RM70,000.

The exemption is applicable for the sale and purchase agreement on purchases that are completed from Jan 1, 2021 until Dec 31, 2025.

A full stamp duty exemption on instruments of transfer and loan agreements for the purchase of first homes worth up to RM500,000.

In an effort to revitalize the property market, the government has introduced tax incentives by reinstating the Home Ownership Campaign.

The incentives include a 10-year income tax exemption, 8 years of stamp duty exemption, real property gains tax and withholding tax.

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