Under Penjana, Stamp Duty & RPGT will be exempted when a residential property is transferred. What is the requirements to have this exemption?
Under the HOC, the stamp duty on Loan Agreement & Purchase of Residential Property can be waived.
- Loan Agreement: 100%
- Purchase of Resident Property: First 1,000,000 or lower (If value of the residential property exceed RM1,000,000, it will be charged RM3 stamp duty for every RM100)
- Only for Residential Property
- Buyer must be Malaysian
- Purchase under personal name
- SPA signed between 01.06.2020 to 31.05.2021
- at least 10% discount must be provided
Real Property Gains Tax (RPGT)
No, RPGT exemption is given for the disposal of residential property, such as:
- Apartment / Flats
- Service Apartment
Can, sell or buy a property between 01.06.2020 to 31.12.2021 will be exempted RPGT.
No, RPGT exemption only limited to disposal of 3 properties, if you sell more than 3 properties at one time, you may choose any 3 of the properties to exempt for RPGT.
No, RPGT exemption is not eligible if the transfer involves the follow:
- Transfer between spouse
- Gifts between spouses, parents and children, grandparents and grandchildren are given by Malaysian citizens
Yes, the Agreement for Sale and Purchase must be done between 01.06.2020 to 31.12 2021 and stamping no later than 31.01.2022.
Your disposal documents must be done between 01.06.2020 to 31.12 2021 and stamping no later than 31.01.2022.
You need to ensure that government approval is obtained after 01.06.2020, and that your contract is done between 01.06.2020 to 31.12.2021, and the date of stamping is not later than 31.01.2022.