I don't really concur.

Based on your earlier example, it means for year
2019: claim 8k tax deduction
2020: no claim
2021: claim 8k tax deduction
2022: no claim

Yes it saves the hassle of in and out. But those years you don't claim you lose out a lot in additional taxes already. Like I said unless you're borrowing from loan shark, or can't afford to have 8k savings a year, I think it's just better to leave the money in there, earn 4% and save on tax.

If you're at 14% marginal tax bracket, that's a RM1,120 savings
If you're at 21% marginal tax bracket, that's a RM1,680 savings
If you're at 24% marginal tax bracket, that's a RM1,920 savings

Also, I think at the moment the tax relief is only until 2020 (though it can be extended in future Budget), so it won't compound 8k,16k, 24k, 32k, etc.

previously mentioned by forummers....
this in on Dec and out in Jan....is useful and effective in maximising ROI with available money.

take it out to invest in anything that can generate >4% pa.....then returns that money (taken out in Jan) in the end of year....+ RM 8k to be eligible for tax relief again....

just RM8k fresh fund yearly is needed, thus unless the money taken out in Jan had been spend on something else, i think this RM8k is not going to create problem, even thought the money taken out in Jan is large.

just return in Dec the money taken out in Jan + RM8k, .......gain tax relief and the gain from that money used for other venture from Jan till Dec

want to confirm the latest lucky draw campaign .
RM100 1 entry .
I shoot one shot RM8000 using bigpay .
I get ONE entry ,
or 80 entry ?  Thanks
Online using credit card to pay , SSPN-I possible ? (prefer Bigpay) Thanks

CC --> Bigpay --> Boost --> SSPN

You should be put BI as well:

CC --> Bigpay --> Boost --> SSPN ---> BI ---> CC ---> BP ... infinite loop

what is BI?

previously mentioned by forummers....
this in on Dec and out in Jan....is useful and effective in maximising ROI with available money.

take it out to invest in anything that can generate >4% pa.....then returns that money (taken out in Jan) in the end of year....+ RM 8k to be eligible for tax relief again....

just RM8k fresh fund yearly is needed, thus unless the money taken out in Jan had been spend on something else, i think this RM8k is not going to create problem, even thought the money taken out in Jan is large.

just return in Dec the money taken out in Jan + RM8k, .......gain tax relief and the gain from that money used for other venture from Jan till Dec

You should be put BI as well:

CC --> Bigpay --> Boost --> SSPN ---> BI ---> CC ---> BP ... infinite loop

Nope, I don't think you can make an infinite loop. It's always a 10k limit monthly for CC --> BP.

Nope, I don't think you can make an infinite loop. It's always a 10k limit monthly for CC --> BP.

I don't need RM 10k per month at all!
RM 8k tax relief is for the whole year.
I just need to accomplish my annual mission for tax relief.

here's the FAQ >> https://www.ptptn.gov.my/faq-insentif-belan...apatan-individu

it showed some scenarios on how "simpanan bersih" or "net savings" determined for tax relief.

rm8k relief is nice, but the sspn-i interest rate of 4.xx% = 4.xx/12 months? which means it depends on how long you put the fresh cash in the account?

As I said I'm not aiming for other better investment at all.
The sole purpose is just to achieve RM 8k per year.
I can do it in December and withdraw in January of the following year.
Repeat the process as long as the system captures the net deposit of the year as RM 8k per assessment year.

if not mistaken...the 8k rebate works this way.

Year              SSPN Deposit           Tax relief
2019             8k                   8k
2020             16k                 8k
2021             -8k                 0k (if you declare 8k, the tax guy will come after you)

Still more than enough if I need RM 8k per year.

I don't need RM 10k per month for BP to achieve above right?