Updated: Oct 12, 2022
To Download Budget 2023 Speech and some other related publications - https://t.me/YourAuditor/3276
Effective from 1 January 2019, the stamp duty rate on the instrument of transfer of property is as follows:
Transfer between Husband and Wife
On any instrument of transfer of property that is executed between a husband and wife, the full imposition of stamp duty is exempted.
Transfer between Parents and Children
On the instrument of transfer of property completed between parents and children who hold citizenship in Malaysia, the payment of stamp duty is waived in the amount of 50%.
It has been suggested that a fixed duty of RM10 be imposed on the instruments of transfer of property between husband and wife, parents and children, as well as grandparents and grandchildren.
This would be subject to the condition that the recipient of the property is a citizen of Malaysia.
The purpose of this proposal is to simplify the treatment of stamp duty for the transfer of property ownership by way of love and affection.
For the instrument of transfer of property executed from 1 January 2023.
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