yes, looks like it....and I think will have to add in too.....

BUT, BUT....maybe it is still an open loophole??

just like previously closed loophole about the sumbangan bersih was inclusive of the dividend received which many had managed to enjoy contributing less before being closed....

Net savings for the year as stated, surely balance b/f is not included in it.

the argument point/ not so clear point is....
"Potongan yang dituntut adalah terhad kepada amaun tabungan bersih yang dilakukan di dalam sesuatu tahun sahaja. "

http://lampiran2.hasil.gov.my/pdf/pdfam/BP_BE2010_1.pdf

it is read as "net contribution in any 1 year only?"

This post has been edited by MUM: Dec 23 2018, 03:30 PM

crystalized now

As they're counting annually you should get 8000 for 2019 claim (file in 2020).

But by doing it this way you miss out on 2018 claim (since your net is -3000 for the year).

More efficient way is to withdraw everything (or almost everything, leave RM20 so that don't need to close/reopen account) in 2018. Since you're not claiming anyway.

Some who have been saving over years may want to take a 'gap year' where they don't claim and withdraw everything. Then the next year restart.

For me, forced savings is good anyway. As long as I'm reasonably confident PTPTN not going to shut down and haircut all depositors, may as well leave it in. 4% is not a very poor interest rate anyway.

thanks for your advice.

may be i shall make the tabulation much clearer.

Baki akaun 2018	RM6,000
Pengeluaran deposit of 2018 in 2019	(RM3,000) withdraw after tax filed - after May 2019
Penambahan deposit 2019	RM8,000
Simpanan bersih 2019	RM11,000

am i entitled 6k and 8k tax relief for both 2018 and 2019 respectively?

Just forget about your 2018 balances and focus on 2019 transaction only.

Deposit 8k
Withraw 3k
Net 5k tax relief

This one has been quite clearly shown in their example, you will only get 5k rebate.

Don't confuse yourself with 'after tax filed' or anything, that is not relevant. Relevant is just:-

1. How much money you had in the account on Jan 1st 20XX - RM A
2. How much interest (if any) you earned on your account during 20XX) - RM B
3. How much money you had on Dec 31st 20XX - RM C

You can claim RM (C- (A+B)). That's all, not complicated.

most importantly is point #3...rebate is based on #3

This post has been edited by lyc1982: Dec 24 2018, 02:07 PM

No it's not, it's based on change, not final amount.

I currently have about 32k in SSPN, means to qualify for the 8k deduction next year I need to end the year at 40+k in SSPN. If in between I withdraw everything will need to put it back in + 8k.

Even the PTPTN HQ in Penang Wel Quay has no idea about BigPay. They kept asking me for reassurance if it's indeed a debit card.

Yea, need to give them repeated confirmation that it's indeed a debit card (technically a prepaid card but oh well).

Can you share me how you check the current account information?

This post has been edited by talexeh: Dec 24 2018, 02:37 PM

https://www.ptptn.gov.my/saving/sspnlogin.html

After login, press your kids name / account number then you can view the transaction.

After that click "lihat terperinci" just below the statement.

This post has been edited by rapple: Dec 24 2018, 02:40 PM

Got it, thanks. I didn't even realize that the account# / name are hyperlinks.

At the moment, the payment has yet to be reflected. I guess a couple working days are required.

i see, meaning no longer enjoying tax relief by in and out within a year after the net saving impementation.

For those of you who did the registration online, do you guys receive the email with your account#?

My wife registered today & made payment but the only email she received was the FPX email. Therefore, she can't create herself a SSPN account since she didn't screenshot the acount# that was shown prior to her making payment.

googled and found this....

https://www.ptptn.gov.my/faq-simpanan-side/faq-sspn-i


Attached thumbnail(s)

i know

in my earlier post replying to another guy also i mentioned the tax relief is based on net saving on that particular year only, e.g: rm6k fresh fund in 2018 then eligible for 2018 tax relief, if no fresh fund in 2018 means not eligible for 2018 tax relief.

Yea, I found this FAQ as well. I used her NRIC to check for semakan but no record appeared but I guess that was due to her completing her payment after 5pm.

Thanks again, will see how it goes on Wednesday.

You can do in and out, but the amount must be correct. In more than out by the amount you want to claim.

Just a quick update. There's another way to check for your SSPN account# if you lost it; just browse to https://www.ptptn.gov.my/penyatasp/Semak & key in your NRIC.