Now I only realize that there’ll have 50% stamp duty exemption on transfer for the purchasing house which costing not more than RM250,000. This stamp duty will be charged on any loan agreement that is executed between buyer and bank. However, it’s only applicable not later than 31st December 2010.
If you are the first time home buyer and plan to buy a house at price RM260k. Then, it’s advisable to make it below RM250k to eligible for the 50% stamp duty exemption. Previously, if let say your house cost RM250k, then stamp duty will be RM4k which calculated as below:
1st RM100k = RM100k x 1%
Next RM150k = RM150k x 2%
50% discount on stamp duty = RM4k x 50%
= RM2k only
However, if you are planning to buy a low-cost house, then you will get full stamp duty exemption on all documents, including loan agreements. You need to be a Malaysian citizen to be eligible for the exemption and it is limited to the 1st application only and it’s effective for sale and purchase agreements executed from 30th Aug 2008 – 31st Dec 2010.
I obtained these information through email replied from Fullhouse.com.my. Below is the email replied,