Dear friends,

Enclosed is a copy of the Stamp Duty (Remission) (No.3) Order 2010 [P.U. (A) 475] which came into effect from 1st January,2011. This puts into effect what was announced by our PM in his Budget 2011 speech last year.

 Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 3830


Basically, the conditions that has to be fulfilled are:

1. The property must be a residential property;

* residential property is defined as 'a house, condominium unit, an apartment or a flat built as a dwelling house'.

2. The purchase price of the property must not exceed RM350,000.00;

3. The applicant (purchaser) has not owned any other residential property;

* note that it doesn't state commercial property. As such, if you have owned any commercial units prior to your current first purchase of a residential property, you would be applicable.

4. The purchaser must be a Malaysian citizen.

* Not applicable to PRs and foreigners.

5. The Sale & Purchase Agreement is executed on/after 31.01.2011 but on/before 31.12.2012

* Note that the period of this remission is only for two years. I doubt if this was announced in the Budget speech.

6. This application for remission entitles the purchaser to a 50% rebate/discount/remission on the stamp duty on the instrument of transfer

* Note that this means the memorandum of transfer (MOT) or deed of assignment, as the case may be. It does not apply for the stamp duty for your loan documentation. A lot of people are under the misconception that it applies to your loan doc as well.

7. The application for remission can only be made ONCE.

Hope the above info helps   

5. The Sale & Purchase Agreement is executed on/after 31.01.2011 but on/before 31.12.2012

This 50% off stamp duty is for S&P agreement or loan agreement?

Thanks

Both, apparently! I stand corrected!

Dear friends,

Enclosed are copies of the Stamp Duty (Remission) (No.3) Order 2010 [P.U. (A) 475] and Stamp Duty (Remission) (No.2) Order 2010 [P.U. (A) 423] which came into effect from 1st January,2011. This puts into effect what was announced by our PM in his Budget 2011 speech last year.

50% remission on stamp duty payable on MOT/DOA:
 Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 3830


50% remission on ad valorem stamp duty payable on facilities agreement
 Stamp_Duty_Remission_No.2_Order_2010.pdf ( 335.7k ) Number of downloads: 2501

Basically, the conditions that has to be fulfilled are:

1. The property must be a residential property;

* residential property is defined as 'a house, condominium unit, an apartment or a flat built as a dwelling house'.

2. The purchase price of the property must not exceed RM350,000.00;

3. The applicant (purchaser) has not owned any other residential property;

* note that it doesn't state commercial property. As such, if you have owned any commercial units prior to your current first purchase of a residential property, you would be applicable.

4. The purchaser must be a Malaysian citizen.

* Not applicable to PRs and foreigners.

5. The Sale & Purchase Agreement is executed on/after 01.01.2011 but on/before 31.12.2012

6. The application for remission can only be made ONCE.

Hope the above info helps   

I was told by a mortgage mgr from tiger bank that the 50% rebate on loan agreement only for islamic financing, is it true?? 

Dear friends,

Enclosed are copies of the Stamp Duty (Remission) (No.3) Order 2010 [P.U. (A) 475] and Stamp Duty (Remission) (No.2) Order 2010 [P.U. (A) 423] which came into effect from 1st January,2011. This puts into effect what was announced by our PM in his Budget 2011 speech last year.

50% remission on stamp duty payable on MOT/DOA:
 Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 3830


50% remission on ad valorem stamp duty payable on facilities agreement
 Stamp_Duty_Remission_No.2_Order_2010.pdf ( 335.7k ) Number of downloads: 2501

Basically, the conditions that has to be fulfilled are:

1. The property must be a residential property;

* residential property is defined as 'a house, condominium unit, an apartment or a flat built as a dwelling house'.

2. The purchase price of the property must not exceed RM350,000.00;

3. The applicant (purchaser) has not owned any other residential property;

* note that it doesn't state commercial property. As such, if you have owned any commercial units prior to your current first purchase of a residential property, you would be applicable.

4. The purchaser must be a Malaysian citizen.

* Not applicable to PRs and foreigners.

5. The Sale & Purchase Agreement is executed on/after 01.01.2011 but on/before 31.12.2012

6. The application for remission can only be made ONCE.

Hope the above info helps   

I was told by a mortgage mgr from tiger bank that the 50% rebate on loan agreement only for islamic financing, is it true?? 

Nope, it is applicable for all type of loans.