Lots of people talking about buying a house. But, one thing a home buyer should know is how much the stamp duty will cost when buying a new house.

Today, we’re going to share the simple calculation of stamp duty and also the stamp duty waiver for first-time house buyer.

HOW TO CALCULATE STAMP DUTY?

Here is the stamp duty scale.

2020 STAMP DUTY SCALE (From 1st January 2019-30th June 2019)

Stamp duty Fee 1% : For First RM100,000

Stamp duty Fee 2% : RM100,001 To RM500,000

Stamp duty Fee 3% : RM500,001 and above

2019 STAMP DUTY SCALE (From 1st July 2019)

Stamp duty Fee 1% : For First RM100,000

Stamp duty Fee 2% : RM100,001 To RM500,000

Stamp duty Fee 3% : RM500,001 and RM1,000,000

Stamp duty Fee 4% : >RM1,000,000

We will show how simple the calculation for easy understanding.

For example, if you’re buying a house amounting RM300,000.The total stamp duty is :-

Stamp duty Fee 1% : For First RM100,000 = RM1000.00

Stamp duty Fee 2% : RM100,001 To RM300,000 = RM4,000.00

Total stamp duty have to pay is RM5,000.00

So this is total stamp duty, you can add legal fees, disbursement fees, valuation fees and other fees to estimate how much the cost of buying the house.

A good news for First-Time House buyer! Woohoo!

With the generosity of Malaysian Government and to increase the purchasing house for first-time house buyer, the government had implemented a stamp duty exemption started 2019 until 31st December 2020.

Criteria For First-Time House Buyer Stamp Duty Waiver:

  1. Must be first-time house buyer. Never buy a house before and never inherited any property.

  2. The Property Price must be less than RM300,000, if purchased between 1st January 2019 to 31st December 2020.

  3. The Property Price must be less than RM500,000, if purchased between 1st July 2019 to 31st December 2020.

  4. Stamp duty exemption is capped at RM300,000 on the property market value and loan amount.

The house below RM300,000 don’t need to pay Stamp Duty?

Now, we’re going to give you a second example.

Let’s said, using the same example, based on RM300,000 purchase price.

Stamp duty Fee 1% : For First RM100,000 = RM1000.00

Stamp duty Fee 2% : RM100,001 To RM300,000 = RM4,000.00

Total stamp duty have to pay is RM5,000.00

Due to, for first-time house buyer there is an exemption of Stamp Duty for property less than RM300,000, therefore you’re not required to pay anything.

How about for Purchase Price Above RM300,000?

Okay for the third example, if the Purchase Price is RM400,000.00.

The Actual Calculation of Stamp Duty is ( before first-time house buyer stamp duty exemption):-

Stamp duty Fee 1% : For First RM100,000 = RM1000

Stamp duty Fee 2% : RM100,001 To RM500,000 = RM6000

Total stamp duty have to pay is RM7,000.00

And because of the first-time house buyer stamp duty exemption, you only need to pay:-

RM7000 (the actual stamp duty)-RM5000 ( Maximum Stamp Duty Exemption Amount) = RM2000.00

This is because RM5000 is stamp duty for RM300,000 property value and this is also the maximum amount of the exemption.

Note : RM300,001 to RM500,000 purchase price stamp duty exemption only applicable after 1st July 2019.

More Good News! Stamp Duty Exemption For Loan Agreement Stamp Duty!!

Yes, not only the exemption applies to Property transfer stamp duty but also to Loan Agreement Stamp Duty. Is that good or what!!

How To Calculate Loan Agreement Stamp Duty?

It’s actually quite simple to calculate Loan Agreement Stamp Duty. There are no scale fees, it’s a flat rate of 0.50% from the Total Loan Amount.

For Example,

If the loan amount is RM300,000.

The Loan Agreement Stamp Duty will be RM300,000 x 0.50% = RM1500.00

And if you’re first-time house buyer, this RM1500 will be exempted. Meaning, you’ll pay ZERO!

Another Example,

How about if the loan amount is RM400,000.

The Loan Agreement Stamp Duty will be RM400,000 x 0.50% = RM2000.00

And again, if you’re first-time house buyer, the amount you need to pay is:-

RM2000 (actual stamp duty)- RM1500 ( Maximum Stamp Duty Exemption Amount) = RM500.00

Note : RM300,001 to RM500,000 purchase price stamp duty exemption only applicable after 1st July 2019.

Do You Realise How Much Saving You Get??

Let’s do a calculation based on RM500,000 Purchase Price And Loan Amount RM450,000 ( margin of finance 90%) to see how much First-time House Buyer can save $$ on their Stamp Duty.

For Property Price of RM500,000

The Actual Calculation of Stamp Duty is ( before first-time house buyer stamp duty exemption) :-

Stamp duty Fee 1% : For First RM100,000 = RM1000

Stamp duty Fee 2% : RM100,001 To RM500,000 = RM8000

Total stamp duty have to pay is RM9,000.00

After first-time house buyer stamp duty exemption : RM9000-RM5000= RM4000 ( Stamp Duty to pay)

Saving Amount : RM5000.00

Note : RM300,001 to RM500,000 purchase price stamp duty exemption only applicable after 1st July 2019.

For Loan Amount : RM450,000

The Actual Calculation of Stamp Duty is ( before first-time house buyer stamp duty exemption) :-

RM450,000 x 0.50% = RM2250.00

After first-time house buyer stamp duty exemption : RM2250-RM1500= RM750 (Stamp Duty to pay)

Saving Amount : RM1500.00

Note : RM300,001 to RM500,000 purchase price stamp duty exemption only applicable after 1st July 2019.

Grand Total Stamp Duty Saving For first-time house buyer is RM6500.00. Wow!!

2019 STAMP DUTY SCALE (From 1st July 2019)

Stamp duty Fee 1% : For First RM100,000

Stamp duty Fee 2% : RM100,001 To RM500,000

Stamp duty Fee 3% : RM500,001 and RM1,000,000

Stamp duty Fee 4% : >RM1,000,000

Tip: If you want to save a lot of money, buy a house that value one million and above before 30th june 2019.

I’m Rich, I can pay more. How Much You Are Paying More In 2019??

Let’s do the comparison calculation for both year, 2018 & 2019 for property price RM1.50 million.

Year 2018

Stamp duty Fee 1% : For First RM100,000 = RM1000

Stamp duty Fee 2% : RM100,001 To RM500,000 = RM8000

Stamp duty Fee 3% : RM500,001 To RM1,000,000 = RM30,000

Total Amount To Pay : RM39,000

Year 2019: ( After 1st July 2019)

Stamp duty Fee 1% : For First RM100,000 = RM1000

Stamp duty Fee 2% : RM100,001 To RM500,000 = RM8000

Stamp duty Fee 3% : RM500,001 and RM1,000,000= RM15000

Stamp duty Fee 4% : >RM1,000,000 = (RM500,000 X 4% = RM20,000 )

Total Amount To Pay : RM44,000

If you’re buying the property after 1st July 2019, you’re paying RM5,000 more.

As a property investor, it is best if you can optimize the opportunity and investment toward buying a house. This exemption will have an end date, so grab this opportunity fast or before 1st July 2019.

If you think this is helpful, feel free to share it with all your friends and family on all the social media platform.

For more Home Loan information and enquiry, please call/ Whatsapp us at +6012-6946746

or visit our website www.malaysiahousingloan.net or www.malaysiahousingloan.com

Request A Free Quotation From Us Today

Guaranteed Reply!!! – within 1 working days

Quotation For

  • SALE AND PURCHASE AGREEMENT MALAYSIA

  • LOAN AGREEMENT MALAYSIA

  • TRANSFER OF PROPERTY MALAYSIA

  • TRANSFER OF PROPERTY BY LOVE AND AFFECTION MALAYSIA

  • AUCTION PROPERTY MALAYSIA

  • SELLER QUOTATION FOR SUB SALE PROPERTY MALAYSIA

Don’t worry, we will definitely get back to you!

FILL UP THE FORM TODAY

1 Step 1

We Will Get Back To You As Fast As Possible. Thank You.

keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right
FormCraft - WordPress form builder

***( For This Moment, The Quotation Services Only Available For Property in Kuala Lumpur , Putrajaya , Cyberjaya , Selangor , Johor , Penang, Kedah , Melaka , Negeri Sembilan , Pahang & Perak )