Property and divorce lawyer Johor Bahru

You’re planning to buy a house, which means you need to be aware of the costs involved – especially the the first time buyer. This is important because you don’t want to face financial setbacks and disappointment in realising your dreams of owning a home. 

Buying a home is often the largest purchase you will make in your lifetime. It is really important you have the right information, at the right time, to ensure you make informed decisions. We will share some of the exemptions or rebates given by the government to assist those first-time buyers.


First House MOT Exemption :Stamp duty Exemption Order (P.U.A) 53/2021

Exemption on Instrument of transfer (MOT)

(1) The Minister exempts all instrument of transfer for the purchase of only one unit of residential property the value of which is not more than five hundred thousand ringgit (RM500,000.00) executed by an individual from stamp duty if—

(a) the sale and purchase agreement for the purchase of the residential property is executed on or after 1 January 2021 but not later than 31 December 2025; and
(b) the individual has never owned any residential property including a residential property which is obtained by way of inheritance or gift, which is held either individually or jointly.
(2) For the purpose of subparagraph (1), the value of the residential property shall be based on the market value.

“residential property” means a house, a condominium unit, an apartment or a flat purchased or obtained solely to be used as a dwelling house; and
“individual” means a purchaser of a residential property who is a Malaysian citizen or co-purchaser of a residential property who is a Malaysian citizen
.


First House Loan Agreement Exemption : Stamp duty Exemption Order (P.U.A) 54/2021

Exemption on Loan Agreement (FA)

(1) The Minister exempts from stamp duty any loan agreement to finance the purchase of only one unit of residential property the value of which is not more than five hundred thousand ringgit (RM500,000.00) executed between an individual named in the sale and purchase agreement and—
(a) a licensed bank under the Financial Services Act 2013 [Act 758];

The stamp duty exemption under subparagraph (1) shall only apply if—
(a) the sale and purchase agreement for the purchase of the residential property is executed on or after 1 January 2021 but not later than 31 December 2025; and
(b) the individual has never owned any residential property including a residential property which is obtained by way of inheritance or gift, which is held either individually or jointly.

“residential property” means a house, a condominium unit, an apartment or a flat purchased or obtained solely to be used as a dwelling house; and
“individual” means a purchaser of a residential property who is a Malaysian citizen or co-purchaser of a residential property who is a Malaysian citizen


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