* To review existing service tax rates and to generate additional tax revenue for national development, the government proposed the rate on all taxable services to be increased from 5% to 6%, effective Jan 1, 2011.
* Proposed stamp duty exemption of 50% be given on instruments of transfer of residential properties, not exceeding RM350,000 from Jan 1, 2011. Sale and purchase agreements must be executed between Jan 1, 2011 to Dec 31, 2012. Residential property includes terrace houses, condominiums, apartments or flats.
* Stamp duty exemption of 50% be given on loan agreements for residential property priced not exceeding RM350,000.
