JOHN went to the 2019 Home Ownership Campaign held at the KLCC Convention Centre. He bought a RM500,000 unit.
He received a 10% rebate and a 3% stamp duty waiver for the unit, amounting to total savings of RM50,000 and RM9,000, respectively (1% for first RM100,000,2% for next RM400,000, ie RM101,000-RM500,000).
John is happy with his savings but unknown to him, this represents a loss to the government in tax revenue.
The purchase came from the RM300,000 to RM599,999 price range, which saw the highest sales volume, at 17,217 units.
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