Budget 2021 exempts stamp duty for purchase of first house worth up to RM500,000


KUALA LUMPUR: Budget 2021 has proposed a full stamp duty exemption on both instrument of transfer and loan agreement for the purchase of first house worth up to RM500,000 to encourage home ownership among the people.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the exemption is applicable for the sale and purchase agreement on purchases that are completed from Jan 1, 2021 until Dec 31, 2025.

He said the government would also extend the stamp duty exemption on loan agreement and instrument of transfer given to rescue contractors and original buyers of abandoned houses for another five years.

"This exception is for the sale and purchase agreement, which is completed from Jan 1, 2021 until Dec 31, 2025 for abandoned housing projects approved by the Ministry of Housing and Local Government," he said when presenting Budget 2021 in Parliament today. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Tough going for blue chips, Public Bank dips below key RM4
CGS-CIMB Securities launches two Shariah-compliant products
Public Mutual launches Public e-Pioneer Entrepreneur Fund
Maybank AM launches All-China Focus Equity Fund
Paying household bills automatically via Boost
Keel laying of T7 Global’s MOPU underway in China
PropertyGuru: More homeowners selling property for cash flow
Zafrul: Govt to strengthen fiscal position, broaden revenue base
MEDAC: MSMEs suffered RM40.7b losses in 2020
Frontken 2Q earnings climb to RM24.74mil on strong semiconductor demand

Stories You'll Enjoy


Vouchers