Tenancy Agreement Stamping Form
If you`re a tenant in Malaysia, you know that one of the most important documents you`ll need is the tenancy agreement. This legal contract sets out the terms and conditions of your tenancy, and it`s important to get it right. But did you know that you also need to get your tenancy agreement stamped? In this article, we`ll take a closer look at the tenancy agreement stamping form and everything you need to know about it.
What is a tenancy agreement stamping form?
A tenancy agreement stamping form is a document used to apply for stamp duty on your tenancy agreement. When you rent a property in Malaysia, you`re required by law to pay stamp duty on your tenancy agreement. This is a tax imposed by the government, and it`s based on the rental amount and the duration of your tenancy.
To pay stamp duty, you need to fill out a tenancy agreement stamping form. This form is available online or at any stamp office in Malaysia. You`ll need to provide some basic information, such as your name, IC number, and contact details. You`ll also need to provide information about your tenancy agreement, including the rental amount, duration of the tenancy, and the address of the property.
Once you`ve filled out the form, you`ll need to submit it along with your tenancy agreement and payment for the stamp duty. You`ll receive a stamped copy of your tenancy agreement, which is a legal proof of your tenancy.
Why is it important to get your tenancy agreement stamped?
Getting your tenancy agreement stamped is important because it`s a legal requirement in Malaysia. Failure to stamp your tenancy agreement can result in penalties and fines. Additionally, a stamped tenancy agreement is a legal proof of your tenancy and can be used as evidence in court in case of any disputes with your landlord.
When should you get your tenancy agreement stamped?
You should get your tenancy agreement stamped within 30 days of signing it. Failure to do so can result in penalties and fines.
How much does it cost to stamp a tenancy agreement?
The cost of stamp duty for a tenancy agreement is based on the rental amount and duration of your tenancy. The stamp duty rates are as follows:
– Rental amount less than RM2,500 per month: RM1 for every RM250 or part thereof of the rental amount, subject to a maximum of RM2,400.
– Rental amount of RM2,500 or more per month: RM2 for every RM250 or part thereof of the rental amount, subject to a maximum of RM3,000.
– Tenancy duration of less than 1 year: The stamp duty is based on the rental amount for the entire tenancy period.
– Tenancy duration of 1 year or more: The stamp duty is based on the rental amount for the first year of the tenancy.
Conclusion
As a tenant in Malaysia, getting your tenancy agreement stamped is an important legal requirement. It`s also a legal proof of your tenancy and can be used as evidence in court in case of any disputes with your landlord. To get your tenancy agreement stamped, you`ll need to fill out a tenancy agreement stamping form and pay the stamp duty based on the rental amount and duration of your tenancy. Be sure to get your tenancy agreement stamped within 30 days of signing it to avoid penalties and fines.
