How much is the stamp duty exemption for homes above RM500,000?

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Stamp Duty Exemption for Homes Above RM500,000 Stands at 50 Per Cent

A 50 per cent stamp duty exemption incentive will be provided for first-time homebuyers purchasing properties priced between RM500,001 and RM1 million. This measure is part of the Keluarga Malaysia Home Ownership Initiative (i-MILIKI) and applies to sale and purchase agreements completed between June 1, 2022, and December 2023.
Incentive for Higher Priced Homes

The government has established a tiered approach to stamp duty exemptions for first-time homeowners. While properties valued at RM500,000 and below will receive a full 100 per cent exemption, those falling into the RM500,001 to RM1 million bracket will benefit from a 50 per cent waiver on stamp duty for both the instrument of transfer and loan agreements.
Commitment to Homeownership

Prime Minister Datuk Seri Ismail Sabri Yaakob highlighted that these stamp duty exemptions, despite potentially reducing national revenue, underscore the government's dedication to the Keluarga Malaysia principle. This initiative aims to facilitate homeownership for a broader segment of the Malaysian population. The Inland Revenue Board (IRB) reported that stamp duty exemption claims under the Home Ownership Campaign (HOC) amounted to RM957.8 million, with the highest claims being for properties priced at RM500,000 and below.
Broader Housing Agenda

The i-MILIKI initiative is an extension of existing housing programmes, including the HOC which ran from 2019 to 2021 and continues to offer exemptions for homes up to RM500,000 until December 31, 2025. The government's broader housing agenda, exemplified by the Home Ownership Programme (HOPE), seeks to address the housing sector holistically, emphasizing the need for adequate, quality, and affordable housing. This includes encouraging financial institutions and private developers to support the housing market and provide suitable affordable housing options tailored to the income levels and localities of Malaysians.

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How much is the stamp duty exemption for homes above RM500,000?

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