PM: Stamp duty exemption for first-time home owners

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For properties between RM500k and RM1 million, 50% exemption on stamp duty.

Prime Minister Datuk Seri Ismail Sabri Yaakob today announced a 100 per cent stamp duty exemption for first-time homeowners of properties priced RM500,000 and below through the Keluarga Malaysia Home Ownership Initiative (i-MILIKI) initiative from June 1, 2022 to December 2023.

He said a stamp duty exemption incentive of 50 percent, meanwhile, will be given for homes priced above RM500,000 to RM1 million.

Ismail Sabri said although the stamp duty exemption would reduce revenue for the nation’s coffers, he stressed that the move was the government’s commitment to Keluarga Malaysia (the Malaysian Family).

He said the government was carrying out various measures to enable Malaysians to own homes such as providing stamp duty tax exemption for property ownership transfers and loan agreements.

“For the record, the Inland Revenue Board (IRB) said that stamp duty exemption claims under the HOC (Home Ownership Campaign) are RM957.8 million.

Bernama

“In fact, the highest stamp duty exemption claim is for homes priced RM500,000 and below,” he said when officiating at the launch of the Home Ownership Programme (HOPE) and the “Karnival Jom Beli Rumah” at the Mid Valley Exhibition Centre today.