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 or else you may use online Legal Fees & Stamp Duty calculator.
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 5% 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
- 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|
Alternatively, you may use online Legal Fees & Stamp Duty calculator to calculate automatically.