I have doubt, if im a first home buyer and my house is around 700k, will i get exempted on the first 300k on stamp duty?

Under what circumstances i will be entitled to get the exmption on stamp duty or should i say MOT?

I thought last year Gov has announced that first home buyer will get exemption on stamp duty(MOT). First 100k will be waived. And then partially from 400k will be waived as well

Thanks

Because of the total amount of the house exceeds certain price range?

You can actually withdraw more than 20% - there is no hard cap of 20%, lifebalance is mistaken and not the first time when discussing EPF-related issues, I do not know where he got this figure. 

What is your loan amount or the loan margin that you took? 90%?

Okay, instructions from EPF is quite clear but I find them to be confusing at times too; although I still commend them for their effort in general. And Ive verified this with multiple EPF officers since plenty of people get confused on the amount that they can withdraw, and its cool that  you are asking me to explain

Based on the terms below (pembinaan/pembelian), you can withdraw whatever the difference between the [loan amount] VS [construction cost OR purchase price] plus 10% of the [construction cost OR purchase price].

I see why lifebalance is a little confused about this (in the spoiler below) because he assumed that everyone will apply for a 90% margin. And most people probably thought that the hard cap is 10% + 10% = 20%. All you have to keep in mind is that not everyone will apply for 90% loan margin, some will prefer to go for lower margin and use withdrawn EPF account 2 money to pay for the rest. So to answer the question on how much you can withdraw from account 2, you need to know the loan margin that you got.
Contruction

Construction cost: RM200,000
Loan amount: RM120,000
Difference: RM80,000
Amount that can be withdrawn: RM80,000 + RM20,000 (10% of the construction cost) = RM100,000

Ratio of withdrawn:construction : 50%

Purchase

Purchase price: RM400,000
Loan amount: RM300,000
Difference: RM100,000
Amount that can be withdrawn: RM100,000 + RM40,000 (10% of the purchase price)  = RM130,000

Ratio of withdrawn:construction : 35%

There is NO hard cap on the amount that you can withdraw, down to the maximum amount that you have in account 2 of course

Pembinaan rumah


Pembelian rumah


Syarat-syarat