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

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cutealex
post Apr 5 2011, 01:51 PM

Buy Lands,Properties& Precious Metals..
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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:
[attachmentid=2035793]

50% remission on ad valorem stamp duty payable on facilities agreement
[attachmentid=2136248]
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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