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When a property is
transferred, the transferee must pay Stamp Duty. The Stamp Duty is based
on the price for the property or its market value, whichever is the
higher.
This is provided for under the First Schedule to the Stamp Act, 1949 (as
amended). The duty is calculated as follows:
For every RM100 or fractional part of RM100 of the contract price or the
market value of the property, whichever shall be greater –
(i) 1% on the first RM100,000.00;
(ii) 2% on any amount in excess of theRM100,000 but not exceeding
RM500,000
(iii) 3% on any amount in excess of RM500,000.
(iv) 4%
for amount excess of 2,000,000.00
For example, the stamp duty on a Memorandum of Transfer for a property
worth RM600,000 is calculated as follows:-
1st RM100,000 ==> 1% x RM100,000 = RM1,000
2nd RM400,000 ==> 2% x RM400,000 = RM8,000
Balance
RM100,000 ==> 3% x RM100,000 = RM3,000
TOTAL STAMP DUTY PAYABLE : RM12,000
Loan Agreement Stamp Duty Rates:
Any Amount = 0.5%
(As updated on
01/01/2010)
The authority for the administration, computation and collection of the
duty is the Inland Revenue Board (IRB).
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