Prime Minister announces Stamp Duty Exemption for home purchases!
Prime Minister Datuk Seri Ishmael Sabri announced the launch of the i-Miliki initiative, under which there are two tax relief measures. First-time buyers can enjoy stamp duty exemption when they purchase a house under RM1 million.
First time buyers who purchase a house below RM500,000 will enjoy 100% exemption from stamp duty. First-time buyers who purchase a house between RM500,000 and RM1 million will enjoy a 50% reduction in stamp duty.
This reduction is applicable to sale and purchase agreements completed between 1 June 2022 and December 2023. The relief will also apply to loan contracts and title transfer documents.
The Prime Minister said he is committed to providing young people with adequate affordable and quality housing.
