Incentives for Property Sector
Updated: Jul 29, 2020
OBJECTIVE: To stimulate the property market and provide financial relief to home buyers
Tax exemption for purchase of properties:
▸ Home Ownership Campaign (HOC) to be reintroduced:
• Stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 to RM2.5 million subject to at least 10% discounts provided by the developer. The exemption on the instrument of transfer is limited to the first RM 1 million of the home price while full stamp duty exemption is given on loan agreement effective for sales and purchase agreements signed between 1st June 2020 to 31st May 2021.
▸ RPGT exemption for disposal of residential homes from 1st June 2020 to 31st December 2021 (This exemption is limited to the disposal of three residential homes per individual)
▸ In addition, the current 70% margin of financing limit applicable for the third housing loan onwards for properties valued from RM600,000 and above, will be uplifted during the period of the HOC, subject to internal risk management assessment of financial institutions.