|Calculate your stamp duty amount for your tenancy agreement|
|Written by Kenny Foo|
|Tuesday, 08 February 2011 13:02|
For property investors that want to earn cash flow income from rental, it is important for them to know the process of preparing tenancy agreement, procedure to stamp the tenancy agreement and calculate the stamp duty amount for the tenancy agreement. Based on the extraction from inland revenue board Malaysia, the following is the guideline for the stamp duty calculation.
Example of stamp duty calculation is as following.
Mr. Lim rent out his condominium with RM900 monthly rental to his tenant for lease period of one year. His stamp duty calculation for this tenancy agreemet will be as following.
For that tenancy agreement, the annual rental will be RM900 X 12 = RM 10,800.
Deduct the exempted amount will be RM10,800 - RM 2,400 = RM 8,400.
Since the lease period is only one year and not exceeding 1 year, the rate of stamp duty will be RM1.00 for every RM250 after exceeding RM2,400.
The stamp duty calculation will be RM 8,400 / RM 250 X RM1 = RM33.6 and round up to RM 34. The stamp duty for Mr. Lim tenancy agreement will be RM 34. Mr. Lim can purchase RM34 of stamp hasil and then proceed to stamp the tenancy agreement.
|Last Updated on Tuesday, 08 February 2011 13:52|