KUALA LUMPUR – Households earning below RM2,500 monthly will receive an additional RM500 as part of the Prihatin scheme.
Households earning between RM2,501 and RM5,000 monthly will get RM300 and singletons will receive RM100.
The funds will be credited into their accounts by end-June. This is in addition to the last payment that Prihatin recipients will get in September. The Prihatin scheme comes up to another RM2.1 billion
Prime Minister Tan Sri Muhyiddin Yassin announced this in a special address hours before the two-week lockdown.
He said an automatic three-month moratorium or 50% instalment reduction over a period of six months are available to those in the B40 group and people affected by job loss, as well as micro- and small enterprises that are not allowed to operate during the lockdown.
This will take effect next month and is said to benefit five million borrowers.
“Insha-Allah, the banking industry will provide more information on this starting tomorrow. Borrowers only need to contact their respective banks for this aid.”
Meanwhile, the exemption on sales tax on imported vehicles – completely knocked down (CKD) and completely built up (CBU) – is extended to year-end.
The government will also extend its exemption on stamp duty for the Home Ownership Campaign (HOC) until the end of this year.
In a letter issued by the Finance Ministry today, the exemption under HOC includes:
- Stamp duty on transfer deeds for residential properties priced between RM300,000 and RM2.5 million. Full exemption applies to the first RM1 million, while the rest are subject to a 3% charge
- Stamp duty on loan agreements for residential properties priced between RM300,000 and RM2.5 million
The exemption comes with some strings attached.
The selling price of the said properties must enjoy at least a 10% discount, and be verified by the Real Estate & Housing Developers’ Association (Rehda), Sabah Housing And Real Estate Developers Association (Shareda) and Sarawak Housing and Real Estate Developers’ Association (Sheda).
It only applies to citizens whose sale and purchase agreements were on or after June 1 and no later than December 31. – The Vibes, May 31, 2021
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