Q.
What is stamp duty and how is it calculated?
A.
Hence, for a One Million Property, the stamp duty due is:
For the first 100,000 = 1% = 1 x 100k / 100 = 1,000
For the next 100,001-500,000 = 2% = 2 x 400k / 100 = 8,000
For the next 500,001- 1,000,000 = 3% = 3 x 500k / 100 = 15,000
Total stamp duty to be paid = 1,000 + 8,000 + 15,000 = 24,000.
Ref:
JPPH website: http://www.jpph.gov.my/mobile/pdf/Stamp_Duty.pdf