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Budget 2013 Malaysia Stamp Duty Exemption for First Residential Property

Another good news for first time homebuyer! Under Budget 2013, government is extending the 50% stamp duty exemption for another 2 years, until 31 December 2014.

Budget 2013

  • Applicable for S&P agreement executed from 1 January 2013 to 31 December 2014
  • Applicable for property price not more than RM400,000

Budget 2012

  • Applicable for S&P agreement executed from 1 January 2011 to 31 December 2012
  • Applicable for property price not more than RM350,000

The exemption is applicable only for buying first residential property e.g. flat, apartment, serviced apartment, condo, landed house.

Stamp Duty Rates
First RM100,000 = 1%
Next RM400,000 = 2%
Thereafter = 3%

For example: If the property price is RM400,000, the calculation is,

First RM100,000 @ 1% = RM1,000
Next RM300,000 @ 2% = RM6,000
Total Stamp Duty = RM7,000
50% Stamp Duty Exemption = RM3,500
Total Payable Stamp Duty (after 50% exemption) = RM3,500

2 thoughts on “Budget 2013 Malaysia Stamp Duty Exemption for First Residential Property”

  1. Lyo
     ·  Reply

    Hi,

    May I know to whom should I speak to regarding this discount when I’m buying a new property? The developer or the lawyer?

    Does this term apply to SOHO suites with a commercial title but protected under HDA?

    Thank you!

    Lyo

  2. fam
     ·  Reply

    I have landed property which was inherited by my late father to me and my brother in year 2003, is tat consider as first house? I bought condo in year 2013, it is consider as first property and can i entitle for stamp duty rebate?

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