If you’re planning to SELL your property, you may be eligible for exemption from Real Property Gains Tax (RPGT):-
(a) In summary, Malaysian citizens are exempted from the RPGT chargeable on gains arising from the disposal of up to three (3) residential properties from 1 June 2020 to 31 December 2021.
(b) A residential property is defined as a house, condominium unit, an apartment or a flat in Malaysia, and includes a serviced apartment and a small office home office (SOHO), owned by an individual, jointly or solely, which is used only as a dwelling house.
(c) Exceptions: The residential property disposed must not be one which is acquired from 1 June 2020 to 31 December 2021 (i) by way of transfer between spouses or (ii) by way of gift between spouses, parent and child, grandparent and grandchild, where the donor is a Malaysian citizen.
(d) The sale and purchase agreement (SPA) must be executed from 1 June 2020 to 31 December 2021 and stamped by 31 January 2022.
If you’re planning to BUY a property in the subsale market, you may be eligible for exemption from Stamp Duty:-
(a) In summary, Malaysian citizens are exempted from the stamp duty chargeable on the instrument of transfer and loan documentation for the purchase of their first residential property valued up to RM500,000.
(b) The Malaysian citizen has never owned any residential property, including a residential property obtained by way of inheritance or gift, whether held individually or jointly.
(c) The SPA must be executed from 1 January 2021 to 31 December 2025.
