Question...
Beginning Balance 8k
Deposit 8k - Jan 2023
Withdraw 16k due to no tax relief.
So i only need to deposit back 16k? or need additional 8k for 2023?
SSPN, Skim Simpanan Pendidikan Nasional
SSPN, Skim Simpanan Pendidikan Nasional
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Mar 29 2023, 12:41 PM
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#21
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca |
Question...
Beginning Balance 8k Deposit 8k - Jan 2023 Withdraw 16k due to no tax relief. So i only need to deposit back 16k? or need additional 8k for 2023? |
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Mar 29 2023, 12:48 PM
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#22
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1,229 posts Joined: Jan 2003 From: Malacca |
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Jun 23 2024, 10:36 PM
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#23
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1,229 posts Joined: Jan 2003 From: Malacca |
QUOTE(rinapua @ Jun 23 2024, 10:32 PM) For example: now I got balance 50K in there, this year I add in 8K. Balance 58K. Anytime, take out 50k, skip 1 year of tax relief, restart saving from beginning.When only I can take out the money in my account for that 50K? lock_82 liked this post
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Mar 5 2025, 08:16 AM
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#24
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1,229 posts Joined: Jan 2003 From: Malacca |
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Mar 5 2025, 12:56 PM
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#25
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1,229 posts Joined: Jan 2003 From: Malacca |
QUOTE(LostAndFound @ Mar 5 2025, 09:15 AM) Haven't checked the specifics but should be possible. Why would you want to do that though, even if your incomes are identical it always makes sense to 'pack' all deductibles to a single spouse so you can drop bracket. Even more so if one income is higher than the other, all the deductibles should go to that spouse. If its a matter of 'equal sharing' then just calculate the value of the deductible and transfer it between yourselves. Both of you come out ahead. Yup, I understand that, but diff child account belongs to diff spouse, so if deposit half half, both kids account will get top up, else only 1 account will keep increasing except move the kid education fund to somewhere else.E.g. if one spouse is taxed at 25% and the other at 19%, putting all deductibles on the higher-earning spouse will net you RM2000. Splitting half would net you RM1760, loss of RM240. |
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