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 SSPN, Skim Simpanan Pendidikan Nasional

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alex_cyw1985
post Mar 29 2023, 12:41 PM

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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?
alex_cyw1985
post Mar 29 2023, 12:48 PM

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QUOTE(poweredbydiscuz @ Mar 29 2023, 12:42 PM)
Put back the 16k will do.
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QUOTE(nexona88 @ Mar 29 2023, 12:42 PM)
just deposit 16k  tongue.gif
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QUOTE(Jack&Guild @ Mar 29 2023, 12:43 PM)
Yeah just redeposit RM16k rclxm9.gif
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Thanks guys...
alex_cyw1985
post Jun 23 2024, 10:36 PM

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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.

When only I can take out the money in my account for that 50K?
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Anytime, take out 50k, skip 1 year of tax relief, restart saving from beginning.
alex_cyw1985
post Mar 5 2025, 08:16 AM

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QUOTE(talexeh @ Feb 10 2025, 12:50 PM)
Both husband & wife are still entitled for SSPN tax relief provided the total of both claims don't exceed RM8,000.
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Can I deposit 4k each and claim 4k for husband and 4k for wife? As long as total is 9k per household?
alex_cyw1985
post Mar 5 2025, 12:56 PM

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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.

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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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.

 

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