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STAMP DUTY (REMISSION) (NO 2) ORDER 2008

PU(A) 311/2008


15 SEPTEMBER 2008
JIL 52; NO 19; 15 SEPTEMBER 2008; TAMBAHAN NO 98; PERUNDANGAN (A)

 

Preamble

 

IN exercise of the powers conferred by subsection 80(2) of the Stamp Act 1949[Act 378], the Minister makes the following order:

 

1. Citation

This order may be cited as the Stamp Duty (Remission) (No. 2) Order 2008.

 

2. Remission

(1) Fifty percent is remitted from the stamp duty chargeable on any loan agreement executed between a purchaser named in the Sale and Purchase Agreement, who is a Malaysian citizen, and a bank, a financial institution, an insurance company registered under the Insurance Act 1996[Act 553], a co-operative society registered under the Co-operative Societies Act 1993[Act 502], or an employer under an employee housing loan scheme, to finance the purchase of only one unit of residential property costing not more than two hundred and fifty thousand ringgit (RM250,000) per unit provided that the Sale and Purchase Agreement is executed on or after 30 August 2008 but not later than 31 December 2010.

(2) In this paragraph, "residential property" means a house, and a condominium unit, an apartment and a flat built as a dwelling house.

 

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