Pro-rated, but I don't think it's calculated daily. They have a monthly cut off point I believe (never tested, SSPN is primarily for income tax benefit, the 4% interest is a bonus).

Nice.... Let's see Alex betul or not (if not betul can marah Alex)

2019 hoot rm6k
2020 Jan 2 withdraw all
2020 Dec 30 hoot rm12k

2021 Jan 2 withdraw all
2021 Dec 31 hoot rm18k

Like that? If doing so, can get 6k additional tax exemption betui?

This post has been edited by alexkos: Mar 11 2019, 05:07 PM

yes,...this had been practiced by some for some years already.
but they don't hoot on 30 or 31 Dec thou

ic....as long as before 30 dec betui?

Yes but for 2019, Alex can hoot rm8k max instead of rm6k.

Probably zero interest.... Dec 2018 - no interest, Jan 2019 also no interest unless withdraw in Feb 2019`

2019 is RM8k tax relief.... re-do and share agin ya

ok boss resubmitting homework

2019 hoot rm8k
2020 Jan 2 withdraw all
2020 Dec 30 hoot rm16k

2021 Jan 2 withdraw all
2021 Dec 31 hoot rm24k

like that?

while waiting for his responses,....
I kaypoh abit....

tabungan bersih to SSPN is what is counted by LHDN

from your homework sequence.....
do you have a tabungan bersih for each year?
if YES, then the value can be used for tax relief.

Works... but why so troublesome ?
Every Dec 31st you still need to cough extra RM8k.
Whats the difference with putting RM8k each year ?

Not as if your RM8k can generate another RM8k out of thin air.
Or
Not as if your RM16k can generate another RM8k out of thin air.

Got other vehicle that can earn more than 4%, or they just have the money to deposit for a month. Need liquidity after that. Its not extra money or saving for them.

Heck my full flexi house loan can save me more than 4%, albeit just slight over.

But for now. I choose to put certain amount to remain in sspn. If over, I will take it out yearly.

Take all out before election. Lol.

this also i dun understand....

just leave the money there......so little also want to calculate this and that

its for your kids.... just leave it

6k/8k is so little only to some people.

We do have a number of HNWI in here

It's fine to be HNWI, but lack of awareness on people's differing status of anything (financial or otherwise) is just immature IMO.

just put money less than one month, then you can get tax relief 8k, which can save RM1920 (if you salary range under 100K~250K)
withdraw the money put in ASNB for 6%

This post has been edited by swn525: Mar 12 2019, 09:40 AM

then at of the year Dec put back RM8k (new fund)+ RM8k (fund taken out in earlier of the year)
then next year Jan withdraw all RM 16k put into ASNB FP.....withdraw from ASNB FP in DEC put back RM8k + RM16k
Repeat....adding RM8k each year DEC
then I will come in a point of time that the amount of units available to buy will be insufficient with the money taken out of SSPN to reap the full 6%pa

ASNB dividend is prorated by month, 1~2 months dividend won't give you as high as RM1900, so SSPN still good for tax relief, and ASNB still good for long term
for available units, yes, may depend luck, but i think not so hard to get 100k in one week, people sell & buy day by day

you can rest 1 year after 1~4 years continuing tax relief, depend how strong of your cash flow
example

dec 2019 - deposit 8k (tax relief 8k)
jan 2020 - withdraw 8k
dec 2020 - deposit 16k (tax relief 8k)
jan 2021 - withdraw 16k
rest........
dec 2022 - deposit 8k (tax relief 8k)
jan 2023 - withdraw 8k
dec 2023 - deposit 16k (tax relief 8k)
jan 2024 - withdraw 16k
rest........

just go for the tax relief.....
the rest is just luck,...maybe can get many cannot get,...by the time can get...it will just be prorate of 6%

my main purpose of depositing in sspn is for the tax relief only...the 4% interest is not that much of a value to me