Hi sifus,

I tried the method of Dec deposit in, Jan cash out method over the years, until one point of time, i need to reset at particular year, in this case, this year 2019, by not depositing any amount. And next year only restart the net deposit of RM8k.

I have a question, the "Net deposit" here is only applicable for "per account"? or "per account holder"?
Reason I asked this is that, i have second son I haven't opened the SSPN-i account to him. Let say the "Net deposit" here is only applicable for "per account", then my first son's SSPN-i account, after doing the reset this year by not depositing amount to the account, so no Tax Rebate for this. But if I open SSPN-i account for my second son and deposit RM8k this year, can consider as net deposit of RM8k if the net deposit is per account?
If the net deposit is per account holder, then i withdraw one son's account and move to another son's account has no effect.
Can anyone confirm this? Please shed some lights here, thanks.

You have not opened another a/c for yr 2nd child thus you may not have noticed the tax statement from sspn. If have 2 a/c, then the statement will shows the details of both the a/c and the tax relief eligible for that year after the sumbangan bersih calculation in 1 same page.

this game of deposit and withdraw can reset??? i thought the moment you withdrew money it will be forever recorded.

So if 2018 you are minus RM30k (nett Deposit-withdraw=Minus RM30k), to claim RM8k tax in 2019 you must put back RM38k.

I dont think you put RM0k in 2019 and then put RM8k in 2020 already can claim tax , because effectively your account still minus RM30k in 2020.

hope i am wrong as i also play that game and my minus is >RM100k now, if can reset untung lah

In 2018 I withdraw 8k from my daugther account and deposit 8k into my son account. I get 0 tax relief not knowing it's a combined statement at the end of the year.

Because this year theres no withdrawal from my daugther account so its actually possible

Deposit 8k 2019
Withdraw 8k 2020 no tax relief
Deposit 8k 2021

So if I understand correctly, it is combined statement (if more than one account) for the pendeposit and the net deposit is based on current year transactions (total deposit - total withdraw). So it is possible to "reset" after lapse one year am I right?

Yes most likely it's for current year transaction only.

I will know by next year once the 2019 tax relief statement its available.

Reset in your example, the money run from SSPN accounts may not be obvious

2018 Acc 1 =Dep RM8k, Acc 2=WD RM8k ------>Nett Deposit 0 , no tax relief
2019 no WD, Deposit RM8k ----->Tax relief RM8k
2020 WD RM8k, no deposit ----> No tax relief
2021 Deposit RM8k---------> want to claim tax relief RM8k


Consider below scenario.

Brought forward balance RM50k
2018 Dec =Deposit RM8k , Balance =RM58k ------>claim tax relief RM8k

2019 Jan withdraw RM58k,
2019 Dec Deposit back RM66k ------------->claim tax relief RM8k

2020 Jan withdraw all RM66k, no deposit -----------> 0 Tax relief

2021 Deposit back RM8k only -------->can claim tax relief RM8k?



still i think not worth sacrifice 1 year tax relief
just to avoid putting back the money.

Yup not worth it.

If I know about the combined statement last year, I would have put in the amount of money required for the tax relief.

The method of depositing during year end time and withdrawal next Jan or Feb its kind of wasting my time so didnt do it this year.

Just dump in 8k every Jan and repeat next year.

I concur as we can max the current year tax relieve (depending on your tax bracket) and SSPN still deliver decent dividend so can treat as long term saving. Also the money can be taken out anytime in case emergency.

OT: May be I am over concern.. will the balance in SSPN affect the child PTPTN application in future? Meaning if they see you have save quite substantial in the SSPN will that reduce the loan offer?

hi, if both parent want to claim tax RM8k separately, both have to deposit RM8k each to the child sspn? So the child sspn will have RM16k?

Both need to open an account for:-

Child A account under Father Name
Child A account under Mother Name

Yes, 8k each.

Sorry if this has been asked before but where do I find my savings in SSPN?

I registered an account and deposited MYR 500 2 days ago. But when I logged into https://www.ptptn.gov.my/saving/sspnlogin.html, all I can see is a statement which shows amount at end 2018 and which is 0.

where & how did you deposited the money?
I deposited it thru the ptptn website....the balance was instantaneous...

Through pptn website during the new account registration process and then transferred through Maybank.

Where do you check your balance? The same link I provided?

try post 1862~1866, page 94?

Ah, ok. The link is not obvious at all - poor UI/UX. Thanks a lot!

churning money out is not wasting time to me

Don't just dump in money when there is no promotion. Wait for some promotion, usually extra lucky draws before dumping in. With the ease of depositing online, it takes like 5 minutes at the computer using FPX.

At the moment, there's a promotion going on : https://www.ptptn.gov.my/promosi-menu/cabut...15-tahun-sspn-i

Even though I have already max out this year's contribution, I'm planning to dump in a bit more for each lucky draw period. Although I have not won anything , never hurt to try.

And yeah, I also just leave the money in the accounts.......

Initially i felt worth to do it in 2015, 2016 & 2017.

Probably because I'm older now, felt tired to withdraw/deposit yearly and crack my head on where to put the money to generate more return.

2015 till now didn't get any lucky draw prize at all..

I still have my son ADAM50 not max out yet so any extra income will go into this account.

received this today. dont know from which lucky draw.


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