STAMP DUTY
Stamp Duty is the tax placed on your property documents during the sale or transfer of the property.
2024 Stamp Duty Fees on MOT (Memorandum of Transfer)
Price Tier | Stamp Duty Malaysia (% of property price) |
|---|---|
First RM100,000 | 1% |
Next 400,000 (RM101,000 – RM500,000) | 2% |
The following amount up to RM1 million(RM500,001 – RM 1 million) | 3% |
Thereafter (> RM 1 million) | 4% |
Stamp Duty on Loan Agreement
Flat rate of 0.5% of the total loan.
Stamp Duty Exemptions 2024
In Budget 2021, it was stated that the stamp duty will be exempted for both instruments of transfer and loan agreement for the purchase of a first home worth not more than RM 500,000. The home can be either a subsale or new-launch property.
The following criteria must be met to receive the 2024 stamp duty exemption:
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This exemption will be for a SPA that is completed between 1 January 2021 to 31 December 2025.
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It is only applicable to residential properties, excluding SOHO/SOFO/SOVO types, as well as serviced residences built for commercial use.
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First-time homebuyers must be Malaysian citizens.
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The buyer must not already own a residential property; if he/she has inherited a property or was given one (no matter if it’s an individual or joint ownership), then he/she is no longer eligible.
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The exemption is given at 2 stages of transfer, i.e. from the property developer to a qualifying financial institution/bank, and from the bank to the Malaysian citizen.