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> Stamp Duty (Remission) (No.3) Order 2010, 50% off stamp duty for MOT/DOA & LoanDoc

dariofoo
post Feb 10 2011, 02:12 PM


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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:
Attached File  Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 2905


50% remission on ad valorem stamp duty payable on facilities agreement
Attached File  Stamp_Duty_Remission_No.2_Order_2010.pdf ( 335.7k ) Number of downloads: 2013



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 nod.gif

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This post has been edited by dariofoo: Apr 5 2011, 11:15 AM
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merce
post Feb 10 2011, 02:27 PM


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QUOTE(dariofoo @ Feb 10 2011, 02:12 PM)
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.

Attached File  Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 2905


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  nod.gif 

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*
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ebackbone
post Feb 10 2011, 03:00 PM


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does this also apply to commercial land titles but resident based like example serviced apartments or as such?
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dariofoo
post Feb 10 2011, 03:08 PM


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You are referring to a mixed development, so strictly speaking it is not 'commercial land' as you put it.

Yes it would apply to serviced apartments as well.
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Seremban_2
post Feb 11 2011, 12:31 PM


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Feel weird with it. This post should be at lawyer corner and look nice in a way everything related to conveyancing matter be at 1 place.
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jady
post Feb 11 2011, 04:46 PM


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QUOTE(dariofoo @ Feb 10 2011, 02:12 PM)

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

*
Should be on/after 01.01.2011?
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dariofoo
post Feb 11 2011, 05:30 PM


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Jady,

You're right. Sorry about that. Thanks. smile.gif

This post has been edited by dariofoo: Feb 11 2011, 05:31 PM
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dariofoo
post Feb 15 2011, 11:34 PM


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Seremban_2
post Feb 23 2011, 05:44 PM


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zigot14
post Mar 8 2011, 02:11 PM


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

Thanks
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dariofoo
post Mar 9 2011, 10:55 AM


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QUOTE(zigot14 @ Mar 8 2011, 02:11 PM)
This 50% off stamp duty is for S&P agreement or loan agreement?

Thanks
*
laugh.gif

Both, apparently! I stand corrected!

This post has been edited by dariofoo: Apr 5 2011, 11:16 AM
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Hansel
post Apr 2 2011, 12:05 PM


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Good thread here, thanks, bro,... for constant reminder to readers here.
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dariofoo
post Apr 5 2011, 11:20 AM


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UPDATE:

There is a 50% rebate on stamp duty payable on the facilities agreement as well. That is under another order, i.e. PUA 423, which I've uploaded above. The first post has also been updated accordingly.

As such - first time purchasers would be entitled to a 50% remission onthe stamp duty payable on both the MOT as well as on the facilities agreement.

I do apologise for any confusion/inconvenience caused.

Cheers.

This post has been edited by dariofoo: Apr 5 2011, 11:21 AM
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stay_cool
post Apr 5 2011, 11:32 AM


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QUOTE(dariofoo @ Mar 9 2011, 10:55 AM)
laugh.gif

Both, apparently! I stand corrected!
*
I was told by a mortgage mgr from tiger bank that the 50% rebate on loan agreement only for islamic financing, is it true?? notworthy.gif
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cutealex
post Apr 5 2011, 01:51 PM


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QUOTE(dariofoo @ Feb 10 2011, 02:12 PM)
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:
Attached File  Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 2905


50% remission on ad valorem stamp duty payable on facilities agreement
Attached File  Stamp_Duty_Remission_No.2_Order_2010.pdf ( 335.7k ) Number of downloads: 2013

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  nod.gif 

icon_rolleyes.gif
*
point no 3, is not fair to others, how about i bought at 2007 (but no claim 50% at that point of time) ... now just implement this... should everyone also eligible for 50% in regardless 1st or got any other residential property.
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12FX
post Apr 5 2011, 03:00 PM


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QUOTE(stay_cool @ Apr 5 2011, 11:32 AM)
I was told by a mortgage mgr from tiger bank that the 50% rebate on loan agreement only for islamic financing, is it true??  notworthy.gif
*
i don't think so.. it is applicable to both financing as long as u fulfilled the condition...and is not the banker who deal with it

This post has been edited by 12FX: Apr 5 2011, 03:04 PM
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jytay8688
post Apr 5 2011, 04:49 PM


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QUOTE(dariofoo @ Feb 10 2011, 03:12 PM)
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:
Attached File  Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 2905


50% remission on ad valorem stamp duty payable on facilities agreement
Attached File  Stamp_Duty_Remission_No.2_Order_2010.pdf ( 335.7k ) Number of downloads: 2013

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  nod.gif 

icon_rolleyes.gif
*
Thank you thumbup.gif
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dariofoo
post Apr 5 2011, 05:39 PM


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QUOTE(stay_cool @ Apr 5 2011, 11:32 AM)
I was told by a mortgage mgr from tiger bank that the 50% rebate on loan agreement only for islamic financing, is it true??  notworthy.gif
*
Nope, it is applicable for all type of loans.
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stay_cool
post Apr 7 2011, 04:55 PM


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QUOTE(dariofoo @ Apr 5 2011, 05:39 PM)
Nope, it is applicable for all type of loans.
*
thanks 4 clarify notworthy.gif
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spanishawk99
post Apr 13 2011, 05:56 PM


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Hi , this is my first time purchasing unit RM 255k from developer tiara mutiara

the lawyer charge me 4259.81 legal fee n disbursement

this is my first time purchase a property and i heard 1st timer eligible for 50% discount for S&P/SPA and stamp duty . Since SPA is free by developer how about stamp duty?

any advise how to get discount ?
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terradetey83
post Apr 13 2011, 06:54 PM


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QUOTE(dariofoo @ Feb 10 2011, 02:12 PM)
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:
Attached File  Stamp_Duty_Remission_No.3_Order_2010.pdf ( 99.78k ) Number of downloads: 2905


50% remission on ad valorem stamp duty payable on facilities agreement
Attached File  Stamp_Duty_Remission_No.2_Order_2010.pdf ( 335.7k ) Number of downloads: 2013

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  nod.gif 

icon_rolleyes.gif
*
Has anyone of you know whether this 50% discount applied to Joint Account holder(me and my wife shared to buy our first house) as well?

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Assassin
post Apr 13 2011, 07:23 PM


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is this apply for new development property or also include purchasing from existing owner's property?
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dariofoo
post Apr 15 2011, 10:03 AM


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QUOTE(terradetey83 @ Apr 13 2011, 06:54 PM)
Has anyone of you know whether this 50% discount applied to Joint Account holder(me and my wife shared to buy our first house) as well?
*
Yes of course nod.gif
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dariofoo
post Apr 15 2011, 10:13 AM


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QUOTE(Assassin @ Apr 13 2011, 07:23 PM)
is this apply for new development property or also include purchasing from existing owner's property?
*
Yes it would apply for both situations nod.gif
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terradetey83
post Apr 15 2011, 01:49 PM


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QUOTE(dariofoo @ Apr 15 2011, 10:03 AM)
Yes of course  nod.gif
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Thanks dariofoo....

Initially i thought only applied to individual holder only, where do you got this info from, any links to share? smile.gif
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dariofoo
post Apr 15 2011, 03:57 PM


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QUOTE(spanishawk99 @ Apr 13 2011, 05:56 PM)
Hi , this is my first time purchasing unit RM 255k from developer tiara mutiara

the lawyer charge me 4259.81 legal fee n disbursement

this is my first time purchase a property and i heard 1st timer eligible for 50% discount for S&P/SPA and stamp duty . Since SPA is free by developer how about stamp duty?

any advise how to get discount ?
*
Got individual title or not at the moment? If got individual title only does the stamp duty apply, since you're buying from developer.

If not, when the title is out later and the MOT is sent for adjudication, your lawyer would indicate to LHDN for the 50% rebate on the stamp duty on the MOT.

For the time being, you would be entitled to 50% rebate on the ad valorem stamp duty on the facilities agreement.

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spanishawk99
post Apr 15 2011, 09:23 PM


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if not mistaken mine is strata title , so mean now i have to make full payment first then after that only get my rebate isnt it ?


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dariofoo
post Apr 15 2011, 10:20 PM


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QUOTE(terradetey83 @ Apr 15 2011, 01:49 PM)
Thanks dariofoo....

Initially i thought only applied to individual holder only, where do you got this info from, any links to share? smile.gif
*
It's quite clear from the order itself, mate. It applies to anyone, irregardless of his/her share in the property - so if a person owns 1/5 of the property, he pays only 50% of that 1/5 share. smile.gif
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dariofoo
post Apr 15 2011, 10:24 PM


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QUOTE(spanishawk99 @ Apr 15 2011, 09:23 PM)
if not mistaken mine is strata title , so mean now i have to make full payment first then after that only get my rebate isnt it ?
*
You mean strata title already out? That's pretty good. No when it is submitted for adjudication the option for the 50% rebate would be selected by the solicitor, so you need only bank in 50% of the estimated sum payable into the firm's client's account nod.gif
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terradetey83
post Apr 15 2011, 11:48 PM


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QUOTE(dariofoo @ Apr 15 2011, 10:20 PM)
It's quite clear from the order itself, mate. It applies to anyone, irregardless of his/her share in the property - so if a person owns 1/5 of the property, he pays only 50% of that 1/5 share.  smile.gif
*
Thanks again..smile.gif

I and my wife just bought a new landed house, under-construction and it's under master title now. Cos i asked my SPA lawyer the other day, he told me he has no idea about the 50% stamping fee discount, and we might be signing the MOT 1 or 2 yrs later....make me confused also...

So, as long as got 50% discount and applied to Joint holder as well, then i can save a lot $$....hehe
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dariofoo
post Apr 16 2011, 11:58 AM


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QUOTE(terradetey83 @ Apr 15 2011, 11:48 PM)
Cos i asked my SPA lawyer the other day, he told me he has no idea about the 50% stamping fee discount
*
doh.gif

QUOTE(terradetey83 @ Apr 15 2011, 11:48 PM)
we might be signing the MOT 1 or 2 yrs later....make me confused also...
*
That is true. Since it is still under master title and ure buying from the developer, the 50% rebate does not apply for now. Only when individual title is out, would you then execute the MOT and during that time, the 50% rebate would apply. nod.gif
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terradetey83
post Apr 17 2011, 10:30 AM


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QUOTE(dariofoo @ Apr 16 2011, 11:58 AM)
doh.gif
That is true. Since it is still under master title and ure buying from the developer, the 50% rebate does not apply for now. Only when individual title is out, would you then execute the MOT and during that time, the 50% rebate would apply.  nod.gif
*
What if i bought another house now, and the MOT of my 2nd house will be executed prior to my first house, do i get the 50% discount for my 1st or 2nd house?

FYi, i already signed the loan agreement, SPA for my first house, except the MOT....
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dariofoo
post Apr 17 2011, 11:00 AM


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QUOTE(terradetey83 @ Apr 17 2011, 10:30 AM)
What if i bought another house now, and the MOT of my 2nd house will be executed prior to my first house, do i get the 50% discount for my 1st or 2nd house?

FYi, i already signed the loan agreement, SPA for my first house, except the MOT....
*
1st property. You'd have to wait then nod.gif
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terradetey83
post Apr 17 2011, 09:41 PM


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QUOTE(dariofoo @ Apr 17 2011, 11:00 AM)
1st property. You'd have to wait then  nod.gif
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hehe..thanks a lot

I dont mind to wait also, I wanted to make it for my 1st property also, cos i jz booked my 2nd property with the smaller amount compare with my 1st property...smile.gif
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dariofoo
post May 9 2011, 04:49 PM


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QUOTE(spanishawk99 @ Apr 13 2011, 05:56 PM)
Hi , this is my first time purchasing unit RM 255k from developer tiara mutiara

the lawyer charge me 4259.81 legal fee n disbursement

this is my first time purchase a property and i heard 1st timer eligible for 50% discount for S&P/SPA and stamp duty . Since SPA is free by developer how about stamp duty?

any advise how to get discount ?
*
You would only need to pay when there's individual title issued as the stamp duty is on the MOT, not the SPA itself. Since there's no mention of it in the bill, then most probably indiv title is not out yet.

In this case, if you're taking a loan, you will be eligible for a 50% rebate on the ad valorem stamp duty on your facilities agreement.
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wtm0325
post May 23 2011, 07:11 PM


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What if joint name - me (1st time owner) and my fiancee (currently owned another residential property), does that eligible too?
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dariofoo
post May 26 2011, 12:38 PM


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QUOTE(wtm0325 @ May 23 2011, 07:11 PM)
What if joint name - me (1st time owner) and my fiancee (currently owned another residential property), does that eligible too?
*
Your half-share would be eligible for the 50% rebate. icon_rolleyes.gif
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wtm0325
post Jun 3 2011, 11:24 AM


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Thanks dariofoo for the great info
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kochin
post Jun 10 2011, 03:37 PM


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dariofoo,
what if one makes his/her first application for this but it's not his/her first property.
i know what the law says.
but can plead ignorance? what happens when LHDN finds out?
reason asking is because the person's first property was bestowed upon by parents.
recently the person just got his/her real unit.
thanks.

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dariofoo
post Jun 11 2011, 08:45 PM


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QUOTE(kochin @ Jun 10 2011, 03:37 PM)
dariofoo,
what if one makes his/her first application for this but it's not his/her first property.
i know what the law says.
but can plead ignorance? what happens when LHDN finds out?
reason asking is because the person's first property was bestowed upon by parents.
recently the person just got his/her real unit.
thanks.
*
Of course you can plead ignorance. But if the law catches up on you, ignorance of the law is no excuse to get off the hook. Might be penalised. Not sure how much as I've never came across a real life case before. I'm sure they treat it just like income tax evasion. nod.gif
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kochin
post Jun 11 2011, 09:48 PM


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QUOTE(dariofoo @ Jun 11 2011, 08:45 PM)
Of course you can plead ignorance. But if the law catches up on you, ignorance of the law is no excuse to get off the hook. Might be penalised. Not sure how much as I've never came across a real life case before. I'm sure they treat it just like income tax evasion.  nod.gif
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and what is the penalty for income tax evasion if i may ask?
the ruling really doesn't seems fair.
they should mandate it as such to be equal to rpgt exmption. to be exercised once in your lifetime kinda thingy rather than limit to first residential property.

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propriete
post Jul 30 2011, 10:29 PM


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In my case, I have 2 properties, sold 1st property last year.
2nd property, I'm staying, bought in 2006 for RM 270k, now strata title out and I need to execute MOT and doing refinancing at the same time at higher price RM 400K.

Questions:
Since I have only one property now, MOT is executed within allowed period, and original purchase price is lower than RM 350K, do I qualify?
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dariofoo
post Aug 1 2011, 11:22 AM


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QUOTE(propriete @ Jul 30 2011, 10:29 PM)
In my case, I have 2 properties, sold 1st property last year.
2nd property, I'm staying, bought in 2006 for RM 270k, now strata title out and I need to execute MOT and doing refinancing at the same time at higher price RM 400K.

Questions:
Since I have only one property now, MOT is executed within allowed period, and original purchase price is lower than RM 350K, do I qualify?
*
Clause 5 states:

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

LHDN does not look at date of MOT. It is date of SPA which matters.

So, you will not qualify for the rebate.

Sorry,mate.


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GaussSeidel
post Feb 7 2012, 08:58 PM


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Met my lawyer today for SPA execution and asked regarding this 50% remittance for my first house purchased <350k rm.

Funny thing, she mentioned that she is unsure whether this remittance is still available for 2012 onwards as she was informed by other colleagues it is no more available.

Anybody care to shed some light? My personal opinion it should still be available since it is explicitly mentioned that "for SPA executed on/after 1/1/11 until on/before 31/12/12".
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kangwoo
post Mar 25 2012, 03:36 PM


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already submit e-borang, can i resubmit/re-isi e-borang since i forgot i entitle s&p rebate
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yloon
post May 4 2012, 08:10 PM


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dariofoo,

I just SPA for my 1st house from developer. but the price is >350k.
Can I conclude that i will not get any discount for both MOT/DOA and facilities agreement.

If this is the case, can I get quickly go and get a used apartment that is below 350k and get these discounts?

thanks.

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echoesian
post May 4 2012, 11:08 PM


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QUOTE(dariofoo @ Apr 15 2011, 03:57 PM)
Got individual title or not at the moment? If got individual title only does the stamp duty apply, since you're buying from developer.

If not, when the title is out later and the MOT is sent for adjudication, your lawyer would indicate to LHDN for the 50% rebate on the stamp duty on the MOT.

For the time being, you would be entitled to 50% rebate on the ad valorem stamp duty on the facilities agreement.

icon_rolleyes.gif
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How do we claim the 50% rebate? I have already signed the offer letter but have yet to sign the loan agreement letter.
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dariofoo
post May 7 2012, 11:43 AM


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QUOTE(GaussSeidel @ Feb 7 2012, 08:58 PM)
Met my lawyer today for SPA execution and asked regarding this 50% remittance for my first house purchased <350k rm.

Funny thing, she mentioned that she is unsure whether this remittance is still available for 2012 onwards as she was informed by other colleagues it is no more available.

Anybody care to shed some light? My personal opinion it should still be available since it is explicitly mentioned that "for SPA executed on/after 1/1/11 until on/before 31/12/12".
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Valid for SPA executed on/before 31/12/12.
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dariofoo
post May 7 2012, 11:45 AM


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QUOTE(yloon @ May 4 2012, 08:10 PM)
dariofoo,

I just SPA for my 1st house from developer. but the price is >350k.
Can I conclude that i will not get any discount for both MOT/DOA and facilities agreement.

If this is the case, can I get quickly go and get a used apartment that is below 350k and get these discounts?

thanks.
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You can if you can somehow date the used apartment before the date of your current SPA. The rebate is only for first house purchase only.
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dariofoo
post May 7 2012, 11:46 AM


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QUOTE(echoesian @ May 4 2012, 11:08 PM)
How do we claim the 50% rebate? I have already signed the offer letter but have yet to sign the loan agreement letter.
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It is applied automatically. So, you only need to pay 50% of the stamp duty, not in full. icon_rolleyes.gif


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echoesian
post May 7 2012, 11:58 AM


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QUOTE(dariofoo @ May 7 2012, 11:46 AM)
It is applied automatically. So, you only need to pay 50% of the stamp duty, not in full.  icon_rolleyes.gif
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I have not sign the SPA, how do they know the date of the SPA and whether the property is my first home?
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dariofoo
post May 7 2012, 04:40 PM


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QUOTE(echoesian @ May 7 2012, 11:58 AM)
I have not sign the SPA, how do they know the date of the SPA and whether the property is my first home?
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When you send in the documents for stamping of course it will be dated. As to whether the property is your first home, you would sign an SD to state so. If they do find out later and discover that you have executed a false SD, then it is a criminal offence which you can be prosecuted against.
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saiaha
post Jul 24 2012, 12:02 PM


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Hi dariofoo,
I'm in the process of signing an offer letter to buy a property <RM350k. I'm wondering if I should put two names (my wife and I) or just 1 name (either) on the SPA.

Would I be able to get the 50% discount twice (on another property) if I put one name on the SPA or does it not matter?

This post has been edited by saiaha: Jul 24 2012, 12:32 PM
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steventan85
post Jul 24 2012, 01:56 PM


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recently i booked a property with my gf....

this is my 2nd property , but 1st property for my gf.

both name in SPA and loan agreement .

is she still eligible for the 50% stamp duty rebate ?

lets say RM4000 for stamp duty , is it 50% of 4000 or (4000/2 * 50% ) ?

Thanks

This post has been edited by steventan85: Jul 24 2012, 02:24 PM
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dariofoo
post Jul 29 2012, 10:56 PM


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QUOTE(saiaha @ Jul 24 2012, 12:02 PM)
Hi dariofoo,
I'm in the process of signing an offer letter to buy a property <RM350k. I'm wondering if I should put two names (my wife and I) or just 1 name (either) on the SPA.

Would I be able to get the 50% discount twice (on another property) if I put one name on the SPA or does it not matter?
*

Can only obtain the rebate once. Even if you've purchased only half share, it still counts as a purchase.
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dariofoo
post Jul 29 2012, 10:58 PM


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QUOTE(steventan85 @ Jul 24 2012, 01:56 PM)
recently i booked a property with my gf....

this is my 2nd property , but 1st property for my gf.

both name in SPA and loan agreement .

is she still eligible for the 50% stamp duty rebate ?

lets say RM4000 for stamp duty , is it 50% of 4000 or (4000/2 * 50% ) ?

Thanks
*
It would be 50% of her half-shre, i.e. 4000/2 x 50%.
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keane04
post Jul 29 2012, 11:12 PM


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Just to double confirm.

If my apartment spa executed in 2009, and mot execute this year. I am not entitled for the 50% rebate, rite ?

Do i qualify for any other rebate ? This is my first property i am talking about.
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dariofoo
post Jul 29 2012, 11:34 PM


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QUOTE(keane04 @ Jul 29 2012, 11:12 PM)
Just to double confirm.

If my apartment spa executed in 2009, and mot execute this year. I am not entitled for the 50% rebate, rite ?

Do i qualify for any other rebate ? This is my first property i am talking about.
*
What is the price of the property? If it is below RM250k then you would be entitled to 50% rebate under the remission order issued in 2008 which applies to acquisitions between 8 Sept 2007 - 31Dec 2010.

This post has been edited by dariofoo: Jul 29 2012, 11:45 PM
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keane04
post Jul 30 2012, 01:32 AM


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QUOTE(dariofoo @ Jul 29 2012, 11:34 PM)
What is the price of the property? If it is below RM250k then you would be entitled to 50% rebate under the remission order issued in 2008 which applies to acquisitions between 8 Sept 2007 - 31Dec 2010.
*
Mine is joint buyer at feb 2007 den in 2009, i bot the other half from my joint buyer and did refinance wif zec. Property price is 160k.

I remember i did get some discount then but i cant recall. I need to execute mot soon, do i get the discount ?

This post has been edited by keane04: Jul 30 2012, 01:33 AM
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dariofoo
post Jul 30 2012, 10:36 AM


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QUOTE(keane04 @ Jul 30 2012, 01:32 AM)
Mine is joint buyer at feb 2007 den in 2009, i bot the other half from my joint buyer and did refinance wif zec. Property price is 160k.

I remember i did get some discount then but i cant recall. I need to execute mot soon, do i get the discount ?
*
Was there a transfer by way of assignment back then? If so, you would've paid full stamp duty upon the MOT and obtained the rebate there and then itself. Now for your MOT, stamping would only be RM10.
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keane04
post Jul 30 2012, 11:18 AM


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QUOTE(dariofoo @ Jul 30 2012, 10:36 AM)
Was there a transfer by way of assignment back then? If so, you would've paid full stamp duty upon the MOT and obtained the rebate there and then itself. Now for your MOT, stamping would only be RM10.
*
the transfer was by executing SPA for the 50% of the apartment. that time, i just pay the stamp duty of rm800+ for value of 85k (half of the apartment worth during 2009)

the MOT is ready to execute start this year.
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kuhfayLover
post Aug 14 2012, 02:25 PM


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Hi dariofoo,

For the 50% remission on MOT stamp duty, one of the condition:
"The Sale & Purchase Agreement is executed on/after 01.01.2011 but on/before 31.12.2012"

If I didn't make this remission this year, do I still able to make it next year? (SNP stamped between 01/01/2011 and 31/12/2012)

Thanks.
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little coffee
post May 28 2013, 08:13 PM


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My lawyer asked me bank in full amount for the stamp duty. He told me tat he will try apply for me but not confirm can get the discount.

Should i pay the full amount or 50% only?

where this is my 1st property, 300k, SPA on 21-12-2012.
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agewisdom
post Nov 11 2013, 09:49 AM


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deleted!

This post has been edited by agewisdom: Nov 11 2013, 09:50 AM
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chee yat
post Dec 10 2013, 10:37 PM


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Sorry to out of topic awhile, i found Lawyer's Corner v2 has been close since Dec 2012. Is there any Lawyer's Corner v3? Or any similar post which i could ask about SPA transaction problem?
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fashionista
post Dec 10 2013, 11:03 PM


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start a new topic. a lot of loyarburok in here smile.gif
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