If you`re a landlord or tenant in Malaysia, you may be wondering about the stamp duty fees associated with a tenancy agreement. Fortunately, there are stamp duty calculators available online that can help you estimate the costs.
Stamp duty is a tax levied on legal documents in Malaysia, including tenancy agreements. The amount you`ll need to pay depends on the duration of the lease and the total rental amount.
For tenancy agreements that are less than three years in duration, the stamp duty fees are as follows:
– For rental amounts up to RM2,500: RM1 for every RM250 or part thereof
– For rental amounts between RM2,501 and RM5,000: RM2 for every RM500 or part thereof
– For rental amounts above RM5,000: RM3 for every RM1,000 or part thereof
For tenancy agreements that are three years or longer in duration, the stamp duty fees are as follows:
– For rental amounts up to RM2,500: RM2 for every RM250 or part thereof
– For rental amounts between RM2,501 and RM5,000: RM4 for every RM500 or part thereof
– For rental amounts above RM5,000: RM6 for every RM1,000 or part thereof
Using a stamp duty calculator can help you estimate the costs associated with your tenancy agreement. Simply enter the rental amount and the duration of the lease, and the calculator will display the total stamp duty fees you`ll need to pay.
It`s important to note that stamp duty fees are typically paid by the tenant. However, in some cases, landlords may agree to split the costs or pay them entirely themselves.
If you`re unsure about the stamp duty fees associated with your tenancy agreement, it`s always a good idea to consult with a legal professional or a real estate agent who can help guide you through the process.
In conclusion, stamp duty fees are an important consideration for anyone involved in a tenancy agreement in Malaysia. By using a stamp duty calculator, you can estimate the costs associated with your agreement and ensure that you`re prepared for any fees that may arise.