|
'Love And Affection' Property
Transfer Exempted From Stamp Duty
07/09/2007 Bernama.com
KUALA LUMPUR, Sept 7 (Bernama) -- The government is proposing that the
instruments for transfer of property between husband and wife on the basis
of "love and affection" be exempted from stamp duty.
"The proposal is effective Sept 8, 2007," said Prime Minister Datuk Seri
Abdullah Ahmad Badawi, who is also finance minister, when tabling the Budget
2008 at Parliament today.
At present, for the first RM100,000 worth of property, RM1.00 duty for every
RM100 or part thereof, will be charged; property valued at between RM100,000
and RM500,000, RM2.00 duty for every RM100 or part thereof, will be charged;
and, RM3.00 duty for every RM100 or part thereof, will be charged for a
property worth more than RM500,000,
For transfer of real property between husband and wife on the basis of "love
and affection" a 50 percent stamp duty exemption is given.
-- BERNAMA |
