PROPERTY - STAMP DUTY ON REAL ESTATE / PROPERTY TRANSACTIONS
Stamp Duty payable to the relevant stamp office is chargeable as follows:
0.5% for any amount
Lease / Tenancy
For every RM250 or part thereof in excess of RM2,400:
< 1 yr: RM1.00
> 1yr < 3yrs: RM2.00
> 3yrs: RM4.00
Exemption from Stamp Duty
Transfer of Property between associated companies
Budget 2008: Exemption from Stamp Duty
For properties costing RM250,000 and below
Conveyance, Assignment, Transfer or Absolute Bill of Sale (except shares, securities, etc.):
Charge or mortgage, agreement for a charge or mortgage (Loan Facilities Agreement):
Sale of stock, shares or marketable securities:
Lease / Tenancy or Agreement to Lease:
Formula for calculation of stamp duty on lease / rental:
Average Annual Rent* - 2,400
[ ______________________________ X Multiplication Factor** ] (Rounded up to the nearest Multiplication Factor**)
*Average Annual Rent = Average Monthly Rental X 12
Not exceeding 1 year: RM1
More than one but not exceeding 3 years: RM2
Exceeding 3 years: RM4
Relief from Stamp Duty in the case of transfer of property between associated companies.
Applies to transfer of beneficial interest in property from one company with limited liability to another such company, where the companies in question are associated, that is to say, one is the beneficial owner of not less than 90% of the issued share capital of the other, or where a third company with limited liability is the beneficial owner of not less than 90% of the issued share capital of each of the aforesaid companies. [Ownership referred to is either directly or through another company or other companies, or partly directly and partly through another company or other companies] - also refer to 6th Schedule of the Stamp Act 1949 (Act 378). [Stamp Act 1949 (Act 378)]
Stamp duty exemption announced in last Budget 2008 tabled on Friday, 7 September 2007
To further stimulate the property sector in particular housing, the Government has proposed that a 50% stamp duty exemption on documents of transfer be given for the purchase of one house of not more than RM250,000 per unit.
We expect an exemption order to be tabled in parliament and gazetted. As soon as we have more information regarding the date of application, etc, we will inform our clients via this website.
Information and hyperlinks contained in http://www.liewchambers.com are for client reference only, and shall not be regarded as legal advice. Take note that the Liew Chambers does not guarantee the accuracy or reliability of such information, and disclaim all liability resulting from any reliance thereupon. Liew Chambers also does not endorse any information contained in or view expressed in any other webpage linked to our website. Applicable is our disclaimer statement.