Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 First house 50% stamp duty, Stamp duty

views
     
tana067
post Dec 19 2016, 08:53 PM

New Member
*
Newbie
3 posts

Joined: May 2015


QUOTE(isonic @ Dec 18 2016, 05:19 PM)
"For first time house buyer, there is 50% rebate on stamp duty if your property price is less than RM500,000"

Hi all, currently im having a suite studio with commercial title.
If i buy another condo with 400k now,am i eligible for the 50% stamp duty rebate?

the suite or condo is consider as my first house ?
*
Should be not able to get as this is your second property.

For the 50% discount for 1st home buyer, have been amended to 100% fully exempted for the 1st RM300k, subsequent RM1 will be charged at 2% for the property below RM500K. Example if you buy RM400K property, your stamp duty will be 2K only (400K-300K)x2%. It will take effect from 1 Jan 2017. So everyone please hold this 2 weeks not to sign any SNP until 1 Jan 2017 smile.gif
tana067
post Dec 23 2016, 02:52 PM

New Member
*
Newbie
3 posts

Joined: May 2015


QUOTE(jason1986 @ Dec 22 2016, 02:57 PM)
This is not correct. The exemption for 2017 onwards is only applicable to properties valued at 300k and below.

As for whether TS is entitled to the currently remission of 50%, it depends on whether the property he currently own is residential or commercial.

TS can check on his SPA. If it is under Schedule H, then it will be classified as residential even if it is erected on a commercial land. If it is not, it is most likely commercial and assuming he has not used the exemption before and fulfills all other conditions, he can then use the remission now.
*
Please check it here:
https://www.crowehorwath.net/uploadedFiles/...e%20Horwath.pdf
For the 1st home buyer of residential property, page number 5:

Between RM300,001 and RM500,000
100% on the first RM300,000 and excess is subject to the prevailing rate of stamp duty.

Checked with lawyer, they are waiting for gazette now. Property below RM500K, 1st RM300K is stamp duty exempted.

Don simply comment if you're not sure.

 

Change to:
| Lo-Fi Version
0.0136sec    0.86    6 queries    GZIP Disabled
Time is now: 2nd December 2025 - 09:07 PM