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.