{"id":48505,"date":"2024-01-02T13:46:00","date_gmt":"2024-01-02T05:46:00","guid":{"rendered":"https:\/\/www.iqiglobal.com\/blog\/?p=48505"},"modified":"2026-01-09T16:03:22","modified_gmt":"2026-01-09T08:03:22","slug":"i-miliki-stamp-duty-exemption","status":"publish","type":"post","link":"https:\/\/iqiglobal.com\/blog\/i-miliki-stamp-duty-exemption\/","title":{"rendered":"i-MILIKI Stamp Duty Exemption for First-Home Buyers Is Ended But Here’s What Government Are Giving!"},"content":{"rendered":"\n

Version:<\/em> CN<\/a><\/em><\/span><\/strong><\/p>\n\n\n\n

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The Home Ownership Program (HOC) was a hot topic among first-time home buyers<\/a>. However, in July 2022, the government announced a new home purchase policy, the Malaysian Home Ownership Initiative (i-MILIKI<\/span>), to help first-time homebuyers reduce the burden of buying a home.<\/p>\n\n\n\n
i-MILIKI is also called “HOC 2.0” by many people in the industry, since both offers the same relief measure, which is the stamp duty exemption. However, HOC & i-miliki has ended on 1 Feb 2024. The rule is canceled but not until the next stamp duty exemption gazette by the goverment. the Curious to know more about the new ruling? Discover its special features here!<\/p>\n\n\n\n
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Table of content<\/h2>
1. What is i-MILIKI?<\/a><\/li>
2. What are the benefits for first-time homebuyers from the government?<\/a><\/li>
3. What are the eligibility requirements for the new initiative?<\/a><\/li>
4. What is the difference between i-MILIKI and HOC?<\/a><\/li><\/ul><\/div>\n\n\n\n
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<\/a>1. <\/b>What is i-MILIKI?<\/b><\/h2>\n\n\n\n
The Malaysian Home Ownership Initiative (i-MILIKI) is a new home ownership program launched by the government, which aims to provide sufficient affordable and quality housing for young people and low- and middle-income groups in Malaysia.<\/p>\n\n\n
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$\"i-MILIKI\"$ <\/figure>\n<\/div>\n\n\n
First-time homebuyers who purchase a home through the i-MILIKI initiative will enjoy two tax deductions:<\/p>\n\n\n\n
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Stamp Duty Exemption for Loan Contracts<\/span> <\/li>\n\n\n\n
Stamp Duty Exemption on Assignment Deeds<\/span> <\/li>\n<\/ul>\n\n\n\n
So, how can first-time buyers enjoy these two stamp duty reductions?<\/p>\n\n\n\n
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Purchasing a house below RM500,000: 100%<\/b><\/span> stamp duty exemption<\/li>\n\n\n\n
Purchasing a house from RM500,000 to RM1 million: 50%<\/b><\/span> stamp duty exemption<\/li>\n<\/ul>\n\n\n\n
However, the i-MILIKI initiative is limited within the period of June 1, 2022 to December 31, 2023, <\/b>and discounts can be enjoyed by signing the Sales and Purchase Agreement (SPA).<\/p>\n\n\n
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$\"i-MILIKI\"$ <\/figure>\n<\/div>\n\n\n
As long as first-time homebuyers purchase new real estate projects, or homes by developers participating in this initiative, they can enjoy these i-MILIKI discounts.<\/p>\n\n\n\n
Do note that this initiative is limited to residential-titled properties. Commercial-titled and commercial-titled under HDA properties (e.g. SOHO, serviced apartments) are not covered.<\/p>\n\n\n\n
This initiative has ended but government has came out with a new ruling for first home buyers.<\/p>\n\n\n\n
<\/a>2. What are the benefits for first-time homebuyers from the government?<\/h2>\n\n\n\n
The new implementation of i-MILIKI has undoubtedly brought the dawn of “buying a house to save money” for first-time buyers.<\/p>\n\n\n\n
With this effort to reduce stamp duties, first-time homebuyers get to have a lower burden of buying a house, making it easier for them to own a home.<\/p>\n\n\n\n
How does the government help first-time homebuyers save money through the new initiative?<\/p>\n\n\n\n
First of all, let’s go through the stamp duty rates stipulated by the government:<\/p>\n\n\n\n
House price<\/strong><\/td> Stamp duty rate<\/strong><\/td><\/tr>
First RM100,000<\/span><\/span> <\/span><\/td> 1%<\/td><\/tr>
RM100,001 to RM500,000<\/td> 2%<\/td><\/tr>
RM500,001 to RM1,000,000<\/td> 3%<\/td><\/tr>
RM1,000,001 <\/span>or above<\/span><\/span> <\/span><\/span><\/span><\/span><\/td> 4%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
As for the stamp duty on loan contracts, the stamp duty rate stipulated by the government is 0.5% of the loan amount<\/b>.<\/p>\n\n\n\n
Which means, if you buy a house priced at RM500,000 through the new initiative, you can get 100% stamp duty exemption!<\/p>\n\n\n\n
Price: RM500,000<\/span><\/td><\/tr>
10% home loan: RM500,000 x<\/span> 10% = RM450,000<\/span><\/span> <\/span><\/span><\/td><\/tr>
Transfer Deed Stamp Duty: (RM100,000 x 1%) + (RM400,000 x 2%）
= RM1,000 + RM8,000 = RM9,000 <\/p><\/td><\/tr>
Stamp duty on loan contract (0.5%)：RM450,000 <\/span>x<\/span> <\/span>0.5% = RM2,250<\/span><\/span><\/span><\/td><\/tr>
100% stamp duty exemption: <\/span>RM<\/span>9<\/span>,000 +<\/span> RM2,250 = <\/span>RM11,250<\/span><\/span> <\/span><\/strong><\/span><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
If you’re purchasing a home at the price of RM <\/span>7<\/span>00,000:<\/span><\/span> <\/span><\/p>\n\n\n\n
Price: RM7<\/span>00,000<\/span><\/span> <\/span><\/span><\/td><\/tr>
10% home loan: RM7<\/span>00,000 <\/span>x<\/span> 10% = RM<\/span>63<\/span>0,000<\/span><\/span> <\/span><\/span><\/td><\/tr>
Transfer Deed Stamp Duty:（RM100,000 x 1%）+（RM500,000 x 2%）+（RM100,000 x 3%）
= RM1,000 + RM10,000 + RM3,000 = RM14,000<\/p><\/td><\/tr>
Stamp duty on loan contract (0.5%): RM63<\/span>0,000 <\/span>x<\/span> 0.5% = <\/span>RM<\/span>3<\/span>,<\/span>15<\/span>0<\/span><\/span><\/span><\/td><\/tr>
Total Stamp Duty: RM14,000 + RM3,150 = RM17,150
50% stamp duty exemption: RM17,150 x 50% = RM8,575<\/b><\/span><\/p><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
You will only be paying the remaining stamp duty of RM8,575 to the government!<\/p>\n\n\n\n
<\/a>3. What are the eligibility requirements for the new initiative?<\/span><\/h2>\n\n\n\n
With this new stamp duty exemption initiative, the initiative comes with its set of eligibility requirements:<\/p>\n\n\n\n
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Only eligible for residential-titled homes.<\/li>\n\n\n\n
Only eligible for new projects.<\/li>\n\n\n\n
Only eligible for first home (first property owned in lifetime by way of purchase\/gift\/inheritance).<\/li>\n\n\n\n
100% stamp duty exemption only for homes value is not more that RM500,000.<\/li>\n\n\n\n
Sale and purchase agreement shall sign between 01.01.2021 – 31.12.2025, both dates included.<\/li>\n<\/ul>\n\n\n\n
<\/a>4. <\/b>What is the difference between i-MILIKI and HOC?<\/h2>\n\n\n\n
People commonly refer to i-MILIKI as “HOC 2.0” because both primarily enable first-time homebuyers to lessen the burden of buying a house by offering a stamp duty exemption.<\/p>\n\n\n\n
However, they are two different programs, so the measures are still different:<\/span><\/p>\n\n\n\n
i-MILIKI<\/strong><\/span> (Ended)<\/td> HOC<\/strong><\/span> (Ended)<\/td><\/tr>
Stamp Duty Exemption:<\/b>\n
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100% stamp duty exemption for owner-occupied properties below RM500,000<\/li>\n
50% waiver for owner-occupier houses with purchase price of RM500,000 to RM1,000,000<\/li>\n
For assignment deeds and home loan contracts only<\/li>\n<\/ul>\n<\/td>
Stamp Duty Exemption:<\/b>\n
100% stamp duty exemption for owner-occupied houses with purchase price of RM1,000,000, including:<\/p>\n
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transfer deed<\/li>\n
home loan contract<\/li>\n
Sale and Purchase Agreement (SPA)<\/li>\n<\/ul>\n<\/td><\/tr>
Type of house title:<\/b>\n
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Residential-titled only<\/span><\/li>\n<\/ul>\n<\/td>
Type of house title:<\/b>\n
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Residential-titled and commercial-titled under HDA<\/li>\n<\/ul>\n<\/td><\/tr>
Room rate discount:<\/span><\/span><\/strong> None<\/span><\/span> <\/span><\/td> Discount on house price:<\/span><\/span><\/strong> 10% <\/span><\/span>discount <\/span><\/span>on <\/span><\/span>all<\/span><\/span> <\/span><\/td><\/tr>
3rd house loan amount:<\/span><\/span><\/strong> None<\/span><\/span><\/td> 3rd house loan amount:<\/span><\/span><\/strong> 90% <\/span>(only for houses with a price of RM600,000)<\/span><\/span><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Although i-MILIKI has ended, rest assured that you will still receive your stamp duty exemption if your property is valued at no more than RM500,000. You still can buy a house through the initiative and can still save you a lot of money!<\/p>\n\n\n\n
It also means that you don’t need to feel pressured to pay for the 10% down payment on a home on top of the additional costs of purchasing a home.<\/p>\n\n\n\n
Moreover, you can also calculate your affordability in advance, and then combine with the discount, and you’ll find that you may be able to buy your favorite property, or a house that’s closest to your needs!<\/span> <\/span><\/p>\n\n\n
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$\"i-MILIKI\"$ <\/figure>\n<\/div>\n\n\n
If you missed the i-MILIKI program last year and are ready to buy a home, don’t miss out on this new initiative!<\/p>\n\n\n\n
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Do you want to exempt your first home from stamp duty completely? Come and consult IQI’s real estate agents who will provide you with professional and comprehensive buying advice, so that you can quickly find your dream home!<\/strong><\/span><\/p>\n\n\n\n\t\t\t\t\t\t