Stamp Duty (Remission) (No.2) Order 2010 [P.U.(A) 423/2010]

Fifty per cent of stamp duty chargeable on any loan agreement executed between a Malaysian citizen purchaser and a financier to finance a purchase of one unit residential property (i.e. a house, a condominium unit, an apartment or a flat unit built as a dwelling house), costing not more than RM350,000 shall be remitted provided that

(i)            the sale and purchase agreement is executed between 1 January 2011 and 31 December 2012, both days inclusive;

(ii)           the purchaser does not own any other residential property at the date of execution of that sale and purchase agreement;

The application for remission may only be made once and is also applicable to co-purchasers.

“financier” means

(a)  a bank,

(b)  a financial institution,

(c)  an insurance company registered under the Insurance Act 1996 [Act 553],

(d)  a co-operative society registered under the Co-operative Societies Act 1993 [Act 502], or

(e)  an employer under an employee housing loan scheme.