Prime Minister Muhyiddin announced the short-term economic recovery plan (PENJANA) through live TV on June 5, 2020:-
- Home Ownership Movement
Houses priced from RM300,000 to RM2.5 million will be exempt from stamp duty on transfer documents and loan agreements.
He said that this exemption is valid for the sale and purchase agreement signed from June 1, 2020 to May 31, 2021, and the condition is that the developer will give at least a 10% discount.
However, this discount does not apply to second-hand housing sales. - Exemption from industrial profit tax
Malaysian citizens who sell their homes from June 1, 2020 to December 31, 2021,
will be able toExempt Industry Profit Tax.
And this offer is limited to the sale of 3 houses per person.
- Purchase the third house
The purchase of the third and subsequent housing loan financing with a value of more than RM600,000 is no longer limited to housing 70% of the price is based on the internal risk management of financial institutions.
