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TITLE: Stamp Duty Exemption Orders for Purchase of Residential Property

DATE: 02/01/2019

2 January 2019
Circular No. 3/2019

TO ALL ACCOUNTANTS

STAMP DUTY EXEMPTION ORDERS FOR PURCHASE OF RESIDENTIAL PROPERTY

Stamp duty exemption for loan agreement for purchase of residential property less than RM300,000

The Stamp Duty (Exemption) (No. 4) Order 2018 was issued on 17 December 2018.

The above-mentioned order provides that stamp duty is exempted on any loan agreement to finance the purchase of one residential property that is valued at not more than RM300,000 executed between an individual and approved institutions.

The exemption is only applicable if:

a. The sale and purchase agreement is executed between 1 January 2019 and 31 December 2020; and
b. The individual has never owned any residential property, including any obtained by inheritance or gift.

This Order comes into operation on 1 January 2019.

Stamp duty remission for loan agreement for purchase of residential property between RM300,000 and RM500,000

The Stamp Duty (Remission) Order 2018 was issued on 17 December 2018.

The above-mentioned order provides that RM1,500 shall be remitted from stamp duty chargeable on any loan agreement to finance the purchase of one residential property that is valued above RM300,000 but not more than RM500,000 executed between an individual and approved institutions.

The exemption is only applicable if:

a. The sale and purchase agreement is executed between 1 January 2019 and 31 December 2020; and
b. The individual has never owned any residential property, including any obtained by inheritance or gift.

This order comes into operation on 1 July 2019.

The orders can be downloaded from the link below:

i. http://www.federalgazette.agc.gov.my/outputp/pua_20181221_P.U.%20(A)%20321.pdf
ii. http://www.federalgazette.agc.gov.my/outputp/pua_20181221_P.U.%20(A)%20320.pdf

Please be guided accordingly.

DR. NURMAZILAH DATO' MAHZAN
Chief Executive Officer

Description: pua_20181221_P.U. (A) 320
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Description: pua_20181221_P.U. (A) 321
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