Ng Law Firm is one of the fastest growing law firm based in the vibrant city of Penang, Malaysia. At the core of our practice, we specialize in a wide range of legal areas, ensuring comprehensive support for our clients in navigating the complexities of the legal landscape.
Our lawyers have extensive knowledge of debt recovery and bankruptcy. Our lawyers have represented clients in such cases, both in of court and outside of court. Whether you are a creditor seeking debts or a debtor looking for assistance, we are here help navigate through this. Rest assured, we work diligently to find the most appropriate and mutually beneficial resolution to your predicament.
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Smooth Property Transfer Guaranteed - we understand that time is of the essence in property transactions, which is why we meticulously prepare documents and strictly adhere to timelines. Dealing with multiple parties during the sale/ purchase of property, such as bankers and the land office, during property transfers can be time-consuming and cumbersome. Our team of experienced lawyers will expertly guide you through the process, streamlining the entire process for your convenience.
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Oxford Brookes University (LL.B (Hons) Bachelor of Laws)
Advocate and Solicitor of the High Court of Malaysia
Before joining the firm, he was an Associate in the Dispute Resolution Division of Skrine (one of Malaysia’s leading law firms).
EXPERIENCES
Commercial & Corporate Litigation: Tommy’s practice primarily focuses on complex commercial and corporate disputes. He possesses significant experience representing a broad range of clients, including public and private companies, SMEs, shareholders, directors, liquidators, and private individuals. He has appeared as lead counsel and co-counsel at all levels of the Malaysian courts in a wide array of matters, including:
Contractual Disputes
Corporate & Commercial Litigation
Land Disputes
Fraud and Asset Recovery
Debt Recovery
Probate and Estate Disputes
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Tort (particularly negligence and defamation)
High-Profile Cases: Tommy has been involved in significant and high-profile cases, notably as part of the legal team from Skrine that successfully obtained Mareva injunctions (asset freezing orders) against former Malaysian Prime Minister Najib Razak on behalf of 1MDB and its subsidiaries. This involvement underscores his experience in complex and politically sensitive litigation.
Arbitration & Adjudication: His experience extends to alternative dispute resolution mechanisms, having been involved in arbitration proceedings pursuant to the Asian International Arbitration Centre (AIAC) arbitration rules and adjudication proceedings pursuant to the Construction Industry Payment and Adjudication Act (CIPAA) 2012.
CONTRIBUTION TO THE LEGAL COMMUNITY
He has co-authored insightful legal articles, including “An Overview of the Law on Fraudulent Trading in Malaysia,” contributing to legal discourse on crucial corporate law topics. Tommy has also been noted for his involvement in the organizing committee for events held by Skrine, such as “SKRINE + AIAC: Connecting AIAC I-Arbitration Rules 2021 With the Industry.
LANGUAGES He is fluent in both written and spoken English and Malay, and conversant in Mandarin and Cantonese
Case results
Gifting a property: Property transfer for FREE through gesture of love and affection
Real Estate
Gifting a property: Property transfer for FREE through gesture of love and affection
Real Estate
Deed of Gift for the Property
A deed of gift serves as a legal instrument outlining the transfer of property ownership to another party, wherein the consideration for the conveyance is rooted in sentiments of love and affection. The process of legally transferring property ownership to family members entails thorough paperwork and adherence to specific procedures.
This article aims to elucidate and furnish essential information to facilitate a seamless transfer of property ownership to family members.
Stamp Duty Exemption for Love and Affection Transfer
The Stamp Duty (Exemption) (No. 10) Order 2007 (P.U. (A) 420) grants full exemption of stamp duty on any instrument of transfer of immovable property between spouses.
In the 2023 Budget proposal, it was suggested that all instruments of transfer of property based on love and affection between parents and children, or grandparents and grandchildren, should receive a 100% stamp duty exemption for the first RM1 million of the market value of the immovable property. Any amount exceeding this threshold would be subject to ad valorem stamp duty, with a 50% remission on the duty imposed.
To enact this proposal, the Stamp Duty (Exemption) (No. 3) Order 2023 [P.U.(A) 178] was gazetted on 9 June 2023, and is considered effective from 1 April 2023.
The Order exempts stamp duty for all instruments of transfer involving immovable property as voluntary dispositions inter vivos executed between specified relationships as outlined in the table below.
Donor
Recipient
Exemption Rate
Husband
Wife
100%
Wife
Husband
100%
(a) Mother or father; or
(b) Mother and father
Child
100% (limited to RM1 million)
Child
(a) Mother or father; or
(b) Mother and father
100% (limited to RM1 million)
(a) Grandfather or grandmother; or
(b) Grandfather and grandmother
Grandchild
100% (limited to RM1 million)
Grandchild
(a) Grandfather or grandmother; or
(b) Grandfather and grandmother
100% (limited to RM1 million)
The exemption will only be applicable if:
(a) The instrument of transfer is executed on or after 1 April 2023, and
(b) The recipient is a Malaysian citizen
The outstanding amount of the market value of the immovable property is subject to a stamp duty rate based on ad valorem, as indicated in the provided table.
Consideration or Market Value of Property
Scale of Fee
First RM100,000
1%
RM100,001 to RM500,000
2%
RM500,001 to RM1,000,000
3%
Above RM1,000,000
4%
Real Property Gains Tax (“RPGT”) Exemption for Love and Affection Transfer
RPGT is a tax imposed on the profit gained from the disposal of property, payable by the party selling or giving the property.
Paragraph 12 of Schedule 2 in the RPGT Act 1976 states that when an asset is given as a gift, the disposal is considered at the market value of the asset. However, if the donor and recipient are closely related, such as spouses, parents and children, or grandparents and grandchildren, and the gift is made within five years of the asset’s acquisition, no gain or loss is deemed for the donor and the recipient is considered to have acquired the asset at the same price as the donor’s acquisition price plus permitted expenses. Therefore, no RPGT is payable.
Nevertheless, to qualify for this exemption, the transferor must be a Malaysian citizen and provide proof of birth certificate when submitting RPGT Forms to the Inland Revenue Board (IRB). It is also important to note that transfers between siblings, friends, boyfriends and girlfriends do not qualify for RPGT exemption.
Duration for Love and Affection Transfer
The duration for processing property transfers through love and affection transfers depends on the type and circumstances of the property. It is recommended to consult a lawyer to obtain more specific details based on the characteristics of the property in question.
Disclaimer: This article is for informative and educative purposes only and shall not be relied upon to constitute legal or professional advice. Ng Law Firm shall not hold any form of liability wheresoever and in whatsoever circumstances including but not limited to due to the amendment of legal provisions in the event any person uses the article’s information. Should you need any help and legal advice, you may reach out to Ng Law Firm at +601154304970 or +6046024970. You may also email your enquiry to [email protected] is a tax imposed on the profit gained from the disposal of property, payable by the party selling or giving the property.
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