Legal fees is payable to the appointed lawyer who will prepare Sale & Purchase Agreement between purchaser and vendor. On other hand, Stamp Duty which also known as Memorandum Of Transfer (MOT) is payable to the government & collected by Lawyer on behalf of the government.
Below is the details on how to calculate Legal Fees & Stamp Duty
1. Legal or Lawyer Fees.
Purchase Price (RM)
|
Fees (% from purchase price)
|
Legal Fees
|
First 150k
|
1% (minimum RM300)
|
RM300 – RM1,500
|
Next 850k
|
0.70%
|
RM1,501 – RM7,450
|
Next 2M
|
0.60%
|
RM7,451 – RM19,450
|
Next 2M
|
0.50%
|
RM19451 – RM29450
|
Next 2.5M
|
0.40%
|
RM29,451– RM39,450
|
Exceed 7.5M
|
Negotiable (maximum 0.40%)
|
from RM39,450
|
On top of that, there are 6% government tax and approximately between RM500 to RM1,000 disbursement cost.
Disbursement cost covers the following,
• Stamping of SPA (RM10 per copy x 4)
• Bankruptcy/ Winding up search
• Company search (if applicable)
• Land search (before preparation of the SPA & prior to the filing of the Form 14A at the Land Office)
• Registration of Transfer at Land Office
• Affirmation on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on the assignment.
• Stamping on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on the assignment
• Transportation
• Printing/ Facsimile/ Telephone/ Photocopy charges
• Miscellaneous charges
2. Stamp Duty or Memorandum Of Transfer (MOT)
Purchase Price (RM)
|
Fees (% from purchase price)
|
Stamp Duty
|
First 100k
|
1%
|
RM0 – RM1,000
|
Next 400k
|
2%
|
RM1,001 – RM9,000
|
Exceed 500k
|
3%
|
from RM9,000
|
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