Loan Stamp Duty Malaysia 2020

The stamp duty exemption order 2020 exemption order was gazetted on 15 may 2020 and came into operation retrospectively on 27 february 2020.

Loan stamp duty malaysia 2020. A 216 2020 and stamp duty exemption no 4 order 2020 p u. In 2019 the government announced a stamp duty hike for properties costing more than rm1 million where the rate was increased from 3 to 4 refer to the table below. You will also need to pay the stamp duty on your loan agreement based on a flat rate of 0 5 of the total loan. This means that for a property at a purchase price of rm300 000 the stamp duty will be rm5 000.

From rm100 001 to rm200 000 2 rm200 000 x 2 rm4 000. Instruments liable to stamp duty are those listed in the first schedule of the stamp act 1949 exemptions relief from stamp duty general exemptions under section 35 in first schedule stamp act 1949 and specific exemptions under item 2 4 and 32 in first schedule stamp act 1949. The stamp duty will be affected to you when you re buying a new house. The new stamp duty malaysia 2019 exemption for first time house buyer will be the same as the previous year stamp duty 2018 where for first time home buyers that purchasing residential properties priced up to rm500 000 stamp duty exempted up to rm300 000 on sale and purchase agreements as well as loan agreements for a period of two years until december 2020.

Rm100 000 x 1 rm1000. Stamp duty exemption on contract notes for sale and purchase transaction of shares of a medium and small capital company in bursa malaysia. Stamp duty exemption on contract notes for sale and purchase transaction of structured warrant or exchange traded fund approved by the securities commission executed from 1 january 2018 to 31 december 2020. Legal fees stamp duty calculation 2020 when buying a house in malaysia.

Total stamp duty is rm5000. The stamp duty fee for the first rm100 000 will be 100 000 1 rm1 000 the stamp duty fee for the remaining amount will be 300 000 100 001 2 rm4 000. Subject to stamp duty exemption no 3 order 2020 p u. Stamp duty calculation malaysia 2020 stamp duty exemption malaysia 2020 the first example if the property purchase price or property value is rm300 000 the property stamp duty will be as follows.

The exemption order exempts from stamp duty loan or financing agreements that satisfy the criteria set out in the exemption order. A 217 2020 dated 28 july 2020 stamp duty exemptions are given for residential properties which are sold during the period between 1 june 2020 to 31 may 2021. To know how much down payment lawyer fees and stamp duty needed are so. For some people buying a home is a significant milestone that tops many people s lifetime to do lists.

To qualify for the exemption the following conditions must be fulfilled.