Issue link: https://maltatoday.uberflip.com/i/1332685
maltatoday | SUNDAY • 24 JANUARY 2021 13 COMMERCIAL LAST June, the Maltese govern- ment unveiled a multi-million economic stimulus package to help boost the economy which had an adverse impact due to the COVID-19 pandemic. The recovery programme included a number of property-related in- centives which made it ideal to buy or invest in property. There are just a few weeks left before these measures ex- pire on the 31 March 2021, so in order not to miss out on great savings, it is advisable to act fast! Through these measures, buyers can benefit from a re- duced stamp duty rate of 1.5% from the current 5% on the first €400,000 of the property value. First-time Buyers will also be exempt from any stamp duty on the first €200,000. Moreover, Frank Salt Real Es- tate first time buyer clients will also be exclusively entitled to a fantastic package with sen- sational offers from some of Malta's leading finishings and furnishings suppliers, offers on property insurance as well as discounts on notarial fees with compliments of APS bank. On the vendor's side, prop- erty transfer tax has been re- duced to 5% from the current 8%. To make sure that sec- ond-time buyers get their money's worth, Frank Salt Re- al Estate is also offering up to €1000 in cash backs to clients who purchase and sell a prop- erty (regardless of the order) through the agency. They al- so get discounts of up to 35% on finishings and furnishings from leading suppliers. The Covid-19 government incentives are valid on all promise of sale agreements en- tered into till the end of March 2021, given that the final con- tract is also signed by the end of 2021. Malta government COVID-19 property incentives due to expire soon Melita continues to support various charities over the festive season MELITA Limited has, over the festive season, made donations totaling €27,500 to various charitable organisations. These donations went to The Malta Community Chest Fund Foun- dation, Puttinu Cares, Dar Bjorn and Dar tal-Providenza. Harald Roesch, CEO at Meli- ta Limited, said, "At the end of a tough year, Melita remained committed to helping the com- munity as much as possible. In addition to these donations, we continue to wholeheartedly support the work of The Mel- ita Foundation which continu- ally welcomes applications for support from NGOs operating across a broad spectrum of are- as including science education, heritage, and the environment. Looking out for each other has helped us overcome the chal- lenges of 2020 and this will re- main key to a better 2021." The Melita Foundation was launched in February 2019 with initial funding of €500,000 from Apax Partners, Melita's shareholders until May 2019. All of the Foundation's expens- es are funded entirely by Melita Limited, meaning that 100 per cent of the funds available to the Foundation will be used to support projects. More than €100,000 have al- ready been allocated to vari- ous organisations and projects including Inspire Foundation, the eSkills Malta Founda- tion, the University of Malta's Research, Innovation & De- velopment Trust (RIDT), St. Margaret College, the Tayar Foundation – Jewish Heritage in Malta, Fondazzjoni Sebh and Teatru Salesjan More information on The Melita Foundation is available at www.melitafoundation.org (From left) Mireille Muscat, Head of Marketing at Melita Limited presenting the donation to H.E. George Vella, President of Malta