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> Stamp Duty Waiver Campaign, Start from Jan - June 2019

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TSbrianccg
post Feb 1 2019, 03:15 PM, updated 5y ago

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Finance Minister announced the stamp duties waiver campaign yesterday.

Previously only for 1st time purchasers and now applicable for everyone.

Does it applicable for those properties purchase direct from developers or include subsales properties?
AskarPerang
post Feb 1 2019, 03:40 PM

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QUOTE(brianccg @ Feb 1 2019, 03:15 PM)
Finance Minister announced the stamp duties waiver campaign yesterday.

Previously only for 1st time purchasers and now applicable for everyone.

Does it applicable for those properties purchase direct from developers or include subsales properties?
*
Nope. This is incorrect.

It is still applicable for first home buyer only.
Waiver of stamp duty up to 1M is applicable for unit bought direct from developer. So subsale purchase if not from developer will not count.

Valid until 30 Jun 2019.
Can refer back the directive signed by LGE.

p/s: anyway, for first home buyer buying property up to 500k still can get waiver for the first 300k. Same as previous year, being extended until 2020.
blackrs
post Feb 1 2019, 03:44 PM

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Does this waiver include stamp duty for MOT?
AskarPerang
post Feb 1 2019, 03:46 PM

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QUOTE(blackrs @ Feb 1 2019, 03:44 PM)
Does this waiver include stamp duty for MOT?
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Yes. Both MOT and loan agreement.
ape
post Feb 1 2019, 04:35 PM

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It is not stated in the directive, the waiver is only applicable for first home buyer.

I thought this is applicable to all citizen?
Leo the Lion
post Feb 1 2019, 04:38 PM

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QUOTE(AskarPerang @ Feb 1 2019, 04:40 PM)
Nope. This is incorrect.

It is still applicable for first home buyer only.
Waiver of stamp duty up to 1M is applicable for unit bought direct from developer. So subsale purchase if not from developer will not count.

Valid until 30 Jun 2019.
Can refer back the directive signed by LGE.

p/s: anyway, for first home buyer buying property up to 500k still can get waiver for the first 300k. Same as previous year, being extended until 2020.
*
Just bought a house last November... ;_;

Congrats to these lucky people getting stamp duty waiver.
Aurora Boreali
post Feb 1 2019, 06:37 PM

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QUOTE(ape @ Feb 1 2019, 04:35 PM)
It is not stated in the directive, the waiver is only applicable for first home buyer.

I thought this is applicable to all citizen?
*
Yup, the directive says

Hanya sah untuk rakyat Malaysia, bagi jualan yang dimuktamadkan antara Januari sehingga Jun 2019, untuk projek perumahan yang diberikan diskaun sekurang-kurangnya 10% dan disahkan oleh REHDA

https://facebook.com/KementerianKewanganMal...156374642763547

Just dunno which projects

This post has been edited by Aurora Boreali: Feb 1 2019, 06:37 PM
Yamy
post Feb 1 2019, 10:03 PM

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This will further worsen the subsale market.
coolguy99
post Feb 1 2019, 10:53 PM

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Damn just bought mine last year. Tough luck...
AskarPerang
post Feb 1 2019, 11:18 PM

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QUOTE(ape @ Feb 1 2019, 04:35 PM)
It is not stated in the directive, the waiver is only applicable for first home buyer.

I thought this is applicable to all citizen?
*


This post has been edited by AskarPerang: Feb 2 2019, 09:01 PM
netcrawler
post Feb 2 2019, 10:24 AM

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Should be applicable to all as no stated for first time buyer. However, most developer will normally bearing the stamp duty sometime mot too
cms
post Feb 2 2019, 03:53 PM

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So is it for first time or for all? I have re-read like 5 times it does not mention only for first time.
AskarPerang
post Feb 2 2019, 08:59 PM

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Okay seems like this is a new campaign by the government, not related to bajet 2019 announcement.


yoongdynasty
post Feb 3 2019, 11:13 AM

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Not only for first time homebuyers. Open for all but must be purchased directly from developers who participated in HOC program. Can go Mapex on 1-3 March in Klcc to see the available projects.
chrisw
post Feb 3 2019, 09:05 PM

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Where is the Mapex?
z21j
post Feb 3 2019, 09:54 PM

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Seems like gov wanna to clear stocks and gain tax from develper for sales.

Rpgt from resale is not good enough.

I think should open to all citizen instead of first home buyer. Those in late 20s or early 30s would have had bought a property so this is like a double whammy to this group.
LoTek
post Feb 3 2019, 11:05 PM

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Sorry but imo these are just knee jerk reactions or populist moves. Still a lack of clear direction for the market moving forward, many will be uncertain and uncomfortable to invest too much.
yoongdynasty
post Feb 3 2019, 11:31 PM

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"He said the stamp duty waivers are applicable for unsold properties that have been completed or under construction during the six month-HOC 2019 period from Jan 1, 2019 to June 30. It is only applicable for properties registered with the Real Estate and Housing Developers’ Association (Rehda) under HOC 2019."

This statement is by LGE. Unfortunately not including subsales.
GGSC27
post Feb 4 2019, 01:31 AM

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damn gonna sign my spa this month,

still unclear over this

10% discount for new project or unsold units?

waiver for stamp duty include MOT?
yoongdynasty
post Feb 4 2019, 09:21 AM

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QUOTE(GGSC27 @ Feb 4 2019, 01:31 AM)
damn gonna sign my spa this month,

still unclear over this

10% discount for new project or unsold units?

waiver for stamp duty include MOT?
*
Direct from developer? Better check if the developer is registered for this HOC programme. If yes, then waiver for MOT and Legal Fees' stamp duty (legal fees must pay to lawyers as normal, just the stamp duty on these legal documents are exempted. Usually about 0.5% of S&P price).

For 10%, developer will usually increase the price and then offer rebates or discounts. But under this initiative, it mentions all prices will be checked and regulated by REHDA. It has to include before and after prices. Hope this is properly enforced and executed. LGE wants developer to offer more than 10% discount. This may make it cheaper than launch price.

When first time home buyer MOT exemption was announced, alot of buyers cancelled their booking and resigned so that it meets the start date. Don't worry it is a norm.



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