COVER STORY
Property360Digest e-magazine Issue # 7 - 2020
BUDGET 2021 PROPOSALS FOR THE PROPERTY SECTOR
Tax Expert Harvindar Singh ’ s View
In the midst of an embattled economy dealing with the infamous Covid-19 pandemic , the Malaysian Government announced various fiscal initiatives to help the Rakyat .
With regard to the property sector , some commendable moves to improve home ownership especially for the low- income group have been proposed . Budget 2021 has proposed a full stamp duty exemption on both instrument of transfer and loan agreement for the purchase of first house worth up to RM500,000 to encourage home ownership among the people . The exemption is applicable for the sale and purchase agreement on purchases that are completed from Jan 1 , 2021 until Dec 31 , 2025 .