Tax Budget 2023 - Individual
Tax Budget 2023 - Individual
Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim have proposed some changes to the income tax rates under the new Budget 2023.
Key summary on tax budget 2023 for individual
Reduction of 2% tax rates for chargeable income between RM35,001 to RM100,000
Increase of 0.5% to 2% tax rates for chargeable income between RM100,000 to RM1million
Stamp duty exemption from 50% to 75% for purchase of first residential home with value above RM500,000 to RM1million
Stamp duty exemption from 50% to 75% for purchase of first residential home with value above RM500,000 to RM1million
Stamp duty exemption 100% for transfer of property by way of love for first RM1 million of property value.
Stamp duty exemption 50% for transfer of property by way of love for the remaining balance above RM1 million of property value.
Stamp duty exemption 50% for transfer of property by way of love for the remaining balance above RM1 million of property value.
Published : 7-Mar-2023
