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Stamp duty, legal fees
In an effort to reduce the cost of ownership of first home for Malaysian citizens, the government has proposed the following stamp duty exemptions:-
| Value of instruments of transfer and loan agreement for the purchase of first home |
Exemption given on stamp duty |
| Up To RM300,000 |
100% |
| Value of instruments of transfer and loan agreement for the purchase of first home |
Exemption given on stamp duty |
| Between RM300,001 and RM500,000 |
100% on the first RM300,000 and excess is subject to the prevailing rate of stamp duty |
The above exemption is applicable for sale and purchase agreement executed from 1st January 2017 to 31 December 2018.
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| 2017 STAMP DUTY SCALE |
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| First RM100,000 |
1% |
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| RM100,001 To RM500,000 |
2% |
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| RM500,001 and above |
3% |
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| 2018 STAMP DUTY SCALE |
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| First RM100,000 |
1% |
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| RM100,001 To RM500,000 |
2% |
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| RM500,001 And Above |
3% |
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Maximum Exemption:
| Property Stamp Duty |
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| First RM100,000 |
1% |
1,000.00 |
| RM100,001 To RM300,000 |
2% |
4,000.00 |
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Total |
5,000.00 |
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| Loan Agreement Stamp Duty |
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| First RM300,000 |
0.50% |
1,500.00 |
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Total |
1,500.00 |
Scenario 1:
Property Price RM300,000
Loan Amount RM270,000 (90%)
| Property Stamp duty: |
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| First RM100,000 |
1% |
1,000.00 |
| RM100,001 To RM300,000 |
2% |
4,000.00 |
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Total |
5,000.00 |
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Exemption Amount |
5,000.00 |
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Balance To Pay |
– |
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| Loan Agreement Stamp duty : |
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| RM270,000 |
0.50% |
1,350.00 |
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Exemption Amount |
1,350.00 |
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Balance To Pay |
– |
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Scenario 2:
Property Price RM335,000
Loan Amount RM301,500 (90%)
| Property Stamp duty : |
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| First RM100,000 |
1% |
1,000.00 |
| RM100,001 To RM335,000 |
2% |
4,700.00 |
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Total |
5,700.00 |
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Exemption Amount |
5,000.00 |
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Balance To Pay |
700.00 |
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| Loan Agreement Stamp duty : |
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| RM301,500 |
0.50% |
1,507.50 |
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Exemption Amount |
1,500.00 |
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Balance To Pay |
7.50 |
Scenario 3:
Property Price RM250,000
Loan Amount RM225,000 (90%)
| Property Stamp duty : |
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| First RM100,000 |
1% |
1,000.00 |
| RM100,001 To RM250,000 |
2% |
3,000.00 |
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Total |
4,000.00 |
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Exemption Amount |
4,000.00 |
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Balance To Pay |
– |
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| Loan Agreement Stamp duty : |
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| RM225,500 |
0.50% |
1,127.50 |
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Exemption Amount |
1,127.50 |
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Balance To Pay |
– |
Scenario 4:
Property Price RM500,000
Loan Amount RM450,000 (90%)
| Property Stamp duty : |
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| First RM100,000 |
1% |
1,000.00 |
| RM100,001 To RM500,000 |
2% |
8,000.00 |
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Total |
9,000.00 |
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Exemption Amount |
5,000.00 |
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Balance To Pay |
4,000.00 |
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| Loan Agreement Stamp duty : |
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| RM450,000 |
0.50% |
2,250.00 |
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Exemption Amount |
1,500.00 |
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Balance To Pay |
750.00 |
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