In fact more than 25%.... u can withdraw immediately in January next year and put the 8k into FD yielding another 3.5%

You leave it in you get 4% interest

Though banks these days giving more then 4% for a 12 month FD...

Buuuttt... I'll dump it into my mortgage... still have about 600k left huhuhuh...

I think he/she is comparing 4% with 3.5% in related to that post...

Exactly
12 month FD means you won't get the money in there out in time for the next round of SSPN deposit. If I withdraw 8k in January, I need to put in 16k by December to be eligible for the next year's income tax benefit.

And income tax benefit for the next year is likely to be 'better' than this year's, generally speaking (because your income presumably is increasing).

12 month FD is not a good way to play this game. Better if you can find middle of year some 6/9 month promo, then the rest of the time keep in something like OCBC 360 for 4.1%.

But the hassle-free (no need to park, submit form, wait) option is to leave in SSPN.

Until/unless you are no longer confident that PTPTN can sustain.

1. Income tax benefits hardly will be better next year as the 25% bracket is pretty big and not easy to move out at the moment..

2. 12 month FD is a broad sweep, even some random 7 months promo from RHB can net us 4.1%

3. I used to take it out every Jan and put back in again Dec cause I dont trust the old govt. Now I'm more pliable to leaving it in SSPN, but consdering my mortgage disbursement started mid of last year, I;m running out of cash to dump in hence will be squeezing every drop from even SSPN....

Hence everyone's situation is unique and there is no one best solution, for me its In Dec/Out Jan and rest of the time in the mortgage account...

You're... just agreeing with what I said w.r.t not using 12 months but instead aiming for shorter tenure so liquidity is available again?

where u get this info?

It's announced in Budget 2019.

https://www.comparehero.my/blog/budget-2019...-taxes-malaysia

we can freely top up sspn without informing sspn agent.. but the previous agent who first helped to register.. asked to send them receipt for future deposited amount.. i wonder do they earn commission?

anyone able to login sspn? got this error:

504 Gateway Time-out

They have some sort of quota to meet it seems.

ok.. i dun bother to send them any receipt after deposited..

You can claim a free gift from them actually.

hi there, i'm not sure if this is the correct thread to ask.

i just want to confirm that for maximun pelepasan cukai 2018 is RM8000.
checked online website and it 's stated RM6K.
https://www.ptptn.gov.my/pelepasan-taksiran...kai-sspn-i-side
an someone share me the latest info/link?

RM 6k for this year (2018) ---> File April 2019
RM 8k is for next year (2019) ---> File April 2020

yo interested in this since i became parent last year

been reading quite a bit, just to confirm:

if i deposit 6k this year and withdraw jan 2019, i have to depo 12k end 2019 to be eligible for 2019 tax relief right?

what if I deposit 6k this year (2018) then dont touch the amount for entire 2019, can i claim tax relief for both 2018 and 2019? or only 2018?

Tax relief given is on NET SAVINGS.

2019 onwards is 8k tax relief.

if no contribution at all in 2019, you can only claim tax relief for 2018

thanks! great help as always!