No stamp duty exemption for property transfer between parents, children | Malaysian Institute of Estate Agents

No stamp duty exemption for property transfer between parents, children

2020-12-17

Property transfer between parents and children are now subject to 50% stamp duty.

KUALA LUMPUR: The government has no plans to provide stamp duty exemption for transfer of property from parents to children, said Finance Minister Tengku Zafrul Aziz.

He said the 100% exemption in stamp duty was only for transfer of assets between husband and wife.

“The government has announced a remission of 50% in stamp duty for transfer of property based on love between parents and children.

“This is to encourage property transfer between parents and children to be done when they are alive to avoid problems in property claims after the death of one of the parties concerned,” he said during Ministers’ Question Time in the Dewan Rakyat today.

He was replying to Mohd Nizar Zakaria (BN-Parit) who asked about stamp duties for property transfer between parents and children.

Tengku Zafrul said the remission of stamp duty was also intended to reduce cases of inheritance claims in court.

He said the stamp duty remission is applicable since Jan 1 this year and only involves recipients who are citizens.

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