New one

Dec 20 better masuk don't wait till last minute

A tax relief is deduction from the total income to derive your chargeable income so it depends on your tax bracket and as long as you earn RM28k above then you should put into sspn... why?

Just assume you earn RM35k
1st 20k tax = RM150 (1st 5k no tax, next 15k 1% tax)
Next 15k tax = RM450 (another 15k here tax 3%)

so if you contribute to SSPN you get tax relief where your total income of 35k minus 8k = 27k

Again 1st 20k = RM150 tax
next 7k @ 3% tax = RM210

If no SSPN contribution you pay RM150 + RM450 = RM600 tax
with SSPN contribution you pay RM150 + RM210 = RM360 tax
Saving = RM240 with just 8k and this 8k belongs to you just too bad once you do it every year also have to do it lo but still go workaround like deposit before the cut off date and withdraw after the cut off date

if your tax bracket is higher than 3% then your saving in tax even more

this is my understanding of how it work and if i got it wrong, please let me know or correct me

This post has been edited by virtualgay: Sep 4 2023, 11:23 AM

shopee

gov actually earn lesser tax with this SSPN Tax Relief

just login to https://myptptn.ptptn.gov.my/ptptn/app/landing
then click on Semak Penyata (top right)
then click on Penyata Pelepasan Cukai (top right)
then click on Penyata Pelepasan Cukai 2023 (Anggaran)
for me i terlebih RM236 but dont want withdraw la.. withdraw need pay RM0.50 to bank Islam

then you will know how much you need to top up

my deposit on 1st Oct yet to reflect... this month kinda slow.. or is it me only?

shopee

use Bank Islam la...
no need put reason ma

this week seems to be slow
wait for few more days la

yeah finally after 10th of the month

deleted

This post has been edited by virtualgay: Oct 10 2023, 03:14 PM

jangan withdraw everything - leave some inside else they consider u tutup account then no pay you dividend
use Bank Islam Internet Banking can withdraw immediately and no wait time needed but i dont know how much the limit
i tried withdraw once like 8k no issue

yes i do use it and so far no issue
only can top up 1k per month and masuk into SSPN 999

Hebat

my wife recently try to open SSPN account but keep failing
anyone have luck opening new SSPN account?

recevied today and all out today

Ask your father to setup bank islam and perform the withdrawal online which is so much easier

Confirm forever because once stop everyone will do mass withdrawal

confirm extend tll forever