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Remission of Stamp Duty w.e.f 1-7-2019

July 8, 2019News Articleadmin

There are 2 Stamp Duty Remission Orders that came into operation on 1-7-2019, they are PU(A)320/2018 Stamp Duty (Remission) Order 2018 and PU(A)49/2019 Stamp Duty (Remission) Order 2019:

PU(A)320/2018 Stamp Duty (Remission) Order 2018

• Remission of stamp duty of RM1,500.00 on loan agreement;
• Loan is to finance the purchase of 1 unit of residential property;
• The value of the residential property is more than RM300,000.00 and not more than RM500,000.00;
• Sale and Purchase Agreement must be executed on or after 1-7-2019 but not later than 31-12-2020; and
• The purchaser must be an individual and has never owned any residential property.

 

PU(A)49/2019 Stamp Duty (Remission) Order 2019

• Remission of stamp duty of RM5,000.00 on instrument of transfer;
• Purchase of 1 unit of residential property;
•The value of the residential property is more than RM300,000.00 but not more than RM500,000.00;
• Sale and Purchase Agreement must be executed on or after 1-7-2019 but not later than 31-12-2020; and
• The purchaser must be an individual and has never owned any residential property.

Therefore, qualified house buyers are now entitled to enjoy stamp duty reduction on the purchase of the residential property and also the housing loan.

Previous Post Changes to the Real Property Gains Tax and Stamp Duty since the announcement of the Budget 2019 Speech Next Post Real Property Gains Tax (Exemption) Order 2020

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