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: 2908
50% remission on ad valorem stamp duty payable on facilities agreement
Stamp_Duty_Remission_No.2_Order_2010.pdf ( 335.7k )
Number of downloads: 2015
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
This post has been edited by dariofoo: Apr 5 2011, 11:15 AM
Stamp Duty (Remission) (No.3) Order 2010, 50% off stamp duty for MOT/DOA & LoanDoc