Moving that amount of money, the earned amount is less than 1%. A short term deposit promo may be enough to more than cover that.

If its just 'spend RM500 to get RM2k' then fine. But this is 'move 250k of your liquidity for about a month', which is fine if you have that much free liquidity - but arguably you should then be focusing on reducing liquidity in order to generate better returns.

If you keep THAT much cash on hand, you're losing out on returns from investment.

Which is fine if that 250k is like 10% of your networth. I think those of us counting income tax deduction ourselves won't be that wealthy kot. No disrespect intended if you're HNWI yourself. But if 250k is like half or more of your networth, keeping it in short-term liquidity options so that you have it available for these 20 days seems suboptimal. Especially when the alternative is to clear out SSPN amount for one year (sacrifice that 2+k) so that in future years you can claim the same 2k+ benefit for 4digit spend rather than 6 digit.

This post has been edited by LostAndFound: Jul 2 2024, 09:55 AM

What extra ganjaran you talking about? 2024 did not have any 1% extra campaign. And why 2025 deposit? Sounds like you don't want to (or not eligible) claim income tax deduction?

If she not working then presumably she's not filing, how to claim? There's only 8k deductible max. 16k is if two parents both filing separately.

Should be less than half, since mostly the better earning spouse more likely to max 8k. Not everyone maxes out 8k every year obviously. And not everyone have double-income to take advantage in the first place.

Not sure if they've changed, but last I checked the app withdraw is not instant, and you can't initiate another withdrawal until the first one completes (few days). So not 3 days.

Just use Bank Islam or over the counter.

The website only accept FPX.

For any other deposit methods (check history) it is via the other party's website not via SSPN website.

Nope, it won't be faster. Open bank islam account, then you need to remember to activate the link between that and your PTPTN (can only do at Bank Islam ATM, which mostly can only find at their branches). If you have a good CS (like the one who attended me at USJ Taipan branch) they will remind you, but otherwise you will go home, then find that need to go find ATM again to do it. That is if you have informed them your objective is to handle SSPN funds when they ask you for reason of opening accounts, some here have just said "for saving" and then buta-buta go home without doing so.

But if you plan to do more than once, it will save you time overall, because you can do transaction online (during working days/hours only) for fifty cents.

Of course if you're planning to play with larger amounts than 25k then you probably want to use PTPTN office anyway, since max 50k per day moving out of SSPN to Bank Islam (normally 25k to move it out, then another 25k use of your limit to move it from Bank Islam to wherever your target account is).

Never heard of Be U, didn't exist when I first opened account. Mostly I just use the website though.

They call it 'anggaran' for a reason. If you malas want to calculate, the best way is to withdraw all this year, then next year easy to calculate. Wanna max deductible must do a bit of work la (not hard, statement available since start of the year of every transaction).

EDIT: For me it is exactly exact (down to the sen), but missing my most recent deposit (yesterday). So I think is accurate, but I don't need it since I have my own records for this purpose.

This post has been edited by LostAndFound: Nov 14 2024, 10:31 PM

Yes looks like the new max limit is 25k. Not sure when this changed.

I believe he is referring to the anggaran amount shown in website...

Not the first time got glitch in the system. In fact payment to SSPN from another provider also having issue. Unlikely that shopee decide to drop this feature and the symptom is 'problem doing transaction' instead of just 'remove the button'.

Mine also have, but my amount was completed months ago.... it won't be immediate one.

Ah, RIP ShopeePay then.

Should be not too late, assuming no delay. I think physical branch would be fastest, IIRC e KYC bugs would delay you a lot and you still have to go to branch.

Feel like much less branch nowadays though, so do check updated locations on their website, rather than rely on our info which can be very outdated.

If you are retired... why wouldn't you just put in EPF?

No such thing as 'have to'. I plan to withdraw my spouse complete amount immediately. If need to redeposit just redeposit. Else skip one year for the reset, let others test.

Confirm not eligible. Your balance at the start of 2024 was 16k + dividend from 2022/2023. Your balance at the end of 2024 only 8k.

You really want to test how well LHDN knows your household? Perhaps for cases where not legally married etc.... otherwise it's unlikely that LHDN will rely only on the child NRIC within SSPN system. Especially at audit (if kena)

That is already possible today, so not sure why that would be a reason not to proceed.

This post has been edited by LostAndFound: Jan 2 2025, 10:56 AM