KUALA LUMPUR: The government will introduce several incentives to stimulate the property market and provide financial relief to home buyers, according to the Prime Minister Tan Sri Muhyiddin Yassin.
“Home Ownership Campaigns (HOC) will be re-introduced. Through this campaign, stamp duty exemption will be provided on the transfer of property and loan agreement for the purchase of home between RM300,000 and RM2.5mil,” he said today.
The exemption on the instrument of transfer is limited to the first RM1mil of the home price while full stamp duty exemption is given on loan agreement effective for sales and purchase agreements signed between June 1 to May 31, 2021.
In addition, the Government has also announced real property gains tax (RPGT) exemption for Malaysians for disposal of up to three properties between June 1, 2020 and Dec 31, 2021.