12/11/2020
What to do with me if I'm 1st time homebuyer and planning to buy now?
1️⃣ if you are buying subsales property/project without hoc (RM300,001 to RM500,000) then you might need to take this into consideration
"stamp duty excemption on Memorandum of Transfer and Loan Agreement is only up to property price RM300,000 till 31.12.2020"
Max stamp duty excemption:
Instrument of transfer RM5,000
Loan Agreement RM1,500
For example if purchase price RM500,000 and loan amount RM450,000
Stamp duty on Memorandum of Transfer
1%: For First RM100,000 = RM1000
2%: RM100,001 To RM500,000 = RM8000
Total stamp duty payable is RM9,000.00
After 1st time homebuyer stamp duty exemption: RM9000-RM5000= RM4000 (Stamp Duty to pay)
RM450,000 x 0.50% = RM2250.00
After 1st time homebuyer stamp duty exemption: RM2250-RM1500= RM750 (Stamp Duty to pay)
★RM4,000 + RM750 = RM4,750 (Total stamp duties to pay) if you buy it on or before 31.12.2020. So better dated the spa on or after 1.1.2021 to save up to RM4,750
2️⃣ If you are buying new project with HOC or subsales 300,000 and below or RM500,001 and above. Then it doesnt really matter.
