Move to waive stamp duty lauded

12/10/2002 The Star

KUALA LUMPUR: Consumers associations lauded the government’s move to waive stamp duty for low-cost houses, saying it will enable more low-income buyers to own a home. 

House Buyers Association secretary-general Chang Kim Loong said the move would benefit the low-income group and help the country move towards developed nation status. 

“It is an incentive for every family to own a house,” he said. 

Chang also said local authorities should conduct regular checks on prospective buyers of low-cost houses, as some of them were not qualified to buy such houses. 

“There have been cases of buyers purchasing low-cost homes, but conducting RM100,000 worth of renovations on their houses,’’ he said. 

It was announced by the Finance Ministry on Thursday that stamp duty would be waived for properties costing RM47,000 and below from July 1.  

Buyers would save between RM650 and RM725. Those who have paid stamp duties can apply for a refund from the nearest stamp office. 

Chang said stamp offices must co-operate in processing exemptions and refunds from buyers. 

“No excuses should be given to deny those who are eligible for the exemption.  

 “On the other hand, the tax department should expedite the refund.’’  

Federation of Malaysian Consumer Associations president Datuk Hamdan Adnan said the move would help the Government achieve its target of zero squatters by 2005 but cautioned against any compromise on quality. 

He said that the waiver should not be an excuse for the Government to built low-cost houses in obscure places where access to jobs were limited.