Hello there!
Today I'm going to share about the formula to calculate stamp duty for your Tenancy Agreement.
Before I proceed, let me tell you a little bit of information about theTenancy Agreement. Tenancy Agreement is a contract between you ("penyewa") and your landlord ("tuan tanah"). It may be written or oral. The Tenancy Agreement gives certain rights to both you and your landlord, for example, your right to occupy the accommodation and the right of your landlord's to receive rent for letting the said accommodation.
You can read further about the general idea of a Tenancy Agreement at the link below :-
So, in Malaysia, there's an amount of stamp duty to be paid in order to make the Tenancy Agreement enforceable by law.
This is how to calculate the stamp duty for your Tenancy Agreement.
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the formula is :
[mrp*12 months] - 2400 = y
y/250 = z (make it a fix figure)
z*rp = sd
mrp = monthly rental price
rp = rental period (year)
sd = stamp duty
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Application :-
Monthly Rental Price (mrp) : RM900.00
Rental Period (rp) : 2 years
[RM900.00*12 months] - 2400 = RM8,400.00
RM8,400.00/250 = RM33.60 (make it a fix figure i.e. without cents)
RM34.00*2 years = RM68.00
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There are three copies of Tenancy Agreement will be prepared in which the cost are as follows :-
the original copy : RM68.00 (as the above calculation)
the duplicate copy : RM10.00
the triplicate copy : RM10.00
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Okay, I hope it's clear enough. In the meantime, I'll find someone to summarize the formula so that it will be easy to recall.
That's all, thank you.
