Stamp Duty 2019

Stamp Duty 2019

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn

Budget 2019 was an exciting announcement and we think one of the biggest winners are under Property and Housing.

A lot of goodies for first-time house buyer and next year will be the best time to search and buy a 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.

This is great!

Let’s see how Stamp Duty Malaysia 2019 exemption works.

In an effort to reduce the cost of ownership of first home for Malaysian citizens, the government has proposed the following stamp duty exemptions:-

Effective Date : 1st January 2019 – 31st December 2020

Value of instruments of transfer and loan agreement for the purchase of first home

Exemption given on stamp duty

Up To RM300,000

100%

Effective Date : 1st July 2019 – 31st December 2020

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

2019 STAMP DUTY SCALE ( from 1st January 2019 – 30th June 2019 )

First RM100,000

1%

RM100,001 To RM500,000

2%

RM500,001 and above

3%

2019 STAMP DUTY SCALE ( NEW!) from 1st July 2019 onward

First RM100,000

1%

RM100,001 to RM500,000

2%

RM500,001 to RM1,000,000

3%

RM1,000,001 to RM2,500,000 (New!!)

4%

Maximum Exemption:

Property Stamp Duty

Stamp Duty Rates

Stamp Duty Amount

First RM100,000

1%

1,000.00

RM100,001 To RM300,000

2%

4,000.00

Total

5,000.00

Loan Agreement Stamp Duty

First RM300,000

0.50%

1,500.00

Total

1,500.00

Scenario 1:
Property Price RM300,000
Loan Amount RM270,000 (90%)

Property Stamp duty:

Stamp Duty Rates

Stamp Duty Amount (RM)

First RM100,000

1%

1,000.00

RM100,001 To RM300,000

2%

4,000.00

Total

5,000.00

Exemption Amount

5,000.00

Balance To Pay

0.00

Loan Agreement Stamp duty :

RM270,000

0.50%

1,350.00

Exemption Amount

1,350.00

Balance To Pay

0.00

Scenario 2:

SPA signed after 1st July 2019
Property Price RM335,000
Loan Amount RM301,500 (90%)

Property Stamp duty:

Stamp Duty Rates

Stamp Duty Amount (RM)

First RM100,000

1%

1,000.00

RM100,001 To RM335,000

2%

4,700.00

Total

5,700.00

Exemption Amount

5,000.00

Balance To Pay

700.00

Loan Agreement Stamp duty :

RM301,500

0.50%

1,507.50

Exemption Amount

1,500.00

Balance To Pay

7.50

Scenario 3:
Property Price RM250,000
Loan Amount RM225,000 (90%)

Property Stamp duty:

Stamp Duty Rates

Stamp Duty Amount (RM)

First RM100,000

1%

1,000.00

RM100,001 To RM250,000

2%

3,000.00

Total

4,000.00

Exemption Amount

4,000.00

Balance To Pay

0.00

Loan Agreement Stamp duty :

RM225,500

0.50%

1,127.50

Exemption Amount

1,127.50

Balance To Pay

0.00

Scenario 4:

SPA signed after 1st July 2019
Property Price RM500,000
Loan Amount RM450,000 (90%)

Property Stamp duty:

Stamp Duty Rates

Stamp Duty Amount (RM)

First RM100,000

1%

1,000.00

RM100,001 To RM500,000

2%

8,000.00

Total

9,000.00

Exemption Amount

5,000.00

Balance To Pay

4000.00

Loan Agreement Stamp duty :

RM450,000

0.50%

2,250.00

Exemption Amount

1,500.00

Balance To Pay

750.00

But, there is more Bonus in Stamp Duty 2019.

Wait for it…

Starting 1st January 2019 to 30th June 2019, for six months only, all stamp duty charges for the first-time purchases house buyer of homes valued between RM300,001 and RM1million will be waived. However, this is for property that purchase from developer only.

Yass!!!! Oh my god! This is big you guys.

Do you know how much you can save? A lot!!

Let’s calculate RM1 million property stamp duty.

2019 STAMP DUTY SCALE

STAMP DUTY RATES

STAMP DUTY AMOUNT (RM)

First RM100,000

1%

1,000

RM100,001 To RM500,000

2%

8,000

RM500,001 To RM1,000,000

3%

15,000

TOTAL

24,000

Wow! Saving of RM24,000!!

So, remember to purchase the property within the period of 1st January 2019 to 30th June 2019. We call this the ” Golden Period”.

More to explore

Close Menu