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Duty on Documents On purchase of own residential property Aim: To lessen the burden on those who wish to buy their own residence, Measure: Increase the value that would be subject to 3.5% duty from the current Lm20,000 to Lm30,000. (Lm150 in savings on stamp duty) Property transferred between family members Currently: The property value subject to duty is the current market price for that property Measure: The property value will be net of profit for the same property on the market. Therefore, value for purpose of Duty on Documents Act:
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