Govt extends stamp duty exemption for first-time homebuyers — MOF

• A 100% stamp duty exemption is given to first-time homebuyers to purchase homes priced not more than RM500,000, while a 75% stamp duty exemption is given to those buying houses priced between RM500,001 and RM1 million, the ministry said.

PUTRAJAYA (June 9): The government will extend the stamp duty exemption given to first-time homebuyers, according to the Ministry of Finance (MOF).

The exemption will be given on the transfer of ownership and loan agreements under the Home Ownership Programme (HOPE), the ministry said in a statement on Friday (June 9).

A 100% stamp duty exemption is given to first-time homebuyers to purchase homes priced not more than RM500,000, while a 75% stamp duty exemption is given to those buying houses priced between RM500,001 and RM1 million, the ministry said.

This stamp duty treatment is applicable to sale and purchase agreements completed from June 1, 2022 to Dec 31, 2023.

Additionally, the government has agreed to fully waive the stamp duty on documents for the transfer of assets involving parents and children, and grandparents and grandchildren — limited to the first RM1 million in property value.

The remaining balance of the value of the property, meanwhile, will be subject to the ad valorem duty rate and given a 50% remission on the stamp duty charged.

This is applicable to real estate transfer documents that are executed from April 1, 2023.