Gifting a property: Property transfer for FREE through gesture of love and affection

Simplify Your Property Transfer : Understanding the Deed of Gift

Thinking of transferring property to a loved one in Penang? Our guide breaks down everything you need to know about the Deed of Gift, a legal document that allows you to transfer property ownership to family members out of love and affection. Learn about stamp duty exemptions, the Penang land rules, and Real Property Gains Tax (RPGT) relief that could save you money. Whether it’s between spouses, parents, or grandparents and grandchildren, we make the process seamless and stress-free. Reach out to Ng Law Firm for expert advice tailored to your situation.

2022/2023 Stamp Duty Exemption and Remission under i-Miliki Home Ownership Programme for First Home Buyers

The Malaysian government’s i-Miliki initiative introduces updates to the Stamp Duty Exemption and Remission program, aiming to boost home ownership. With attractive incentives, individuals purchasing residential properties within specific price ranges can benefit from significant stamp duty exemptions and remissions. By reducing the financial burden associated with property transactions, these measures encourage affordable housing and stimulate economic growth. Eligibility requirements, such as executing a Sale and Purchase Agreement and not owning any previous residential property, ensure that the benefits reach those in need. Through these updates, the government aims to create a more inclusive and accessible housing market for Malaysian citizens.

RPGT: Real Property Gain Tax Rate 2023 for individuals and companies & how to calculate it?

Explore Malaysia’s Real Property Gain Tax (RPGT), a tax on profit from the sale of land, shares in Real Property Companies, or real property by individuals and companies. Learn about the 2023 RPGT rates for citizens, permanent residents, non-citizens, and companies, as well as available RPGT exemptions, including once-in-a-lifetime exemptions and gifts between family members. Understand the importance of timely payment and potential penalties for non-compliance. Stay informed on the latest changes to the Real Property Gains Tax Act 1976 and Finance Act 2021.

Legal Perspective: How to buy an auction property?

Learn how to buy an auction property with this legal perspective guide. Discover the types of auction properties, pre-auction procedures such as research, inspection, and registration, and understand the bidding process and post-auction steps. Ensure a smooth transaction by seeking legal advice and being well-prepared before participating in a property auction.

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