ESP7. Increasing Home Ownership

• RM200M to build 6,500 units of rumah mesra rakyat by Syarikat Perumahan Negara Berhad under First Stimulus packages
• In view of good response from low income group, additional RM200M allocation is made
• house buyers given tax relief on interest paid on housing loans up to RM10,000/year for 3 years.
  • Detail of the tax relief as follow
    • purchased from developer or third party
    • tax payer is a Malaysian citizen and a resident
    • limited to 1residential house (including flat, apartment or condominium
    • SPA executed between 10.3.2009 and 31.12.2010
    • 3 consecutive years from the first year the housing loan interest is paid
    • Effective Year of Assessment 2009