https://www.ptptn.gov.my/simpan-sspn/
This post has been edited by alexkos: Jun 15 2025, 08:11 AM
SSPN, Skim Simpanan Pendidikan Nasional
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 Apr 3 2011, 01:39 PM, updated 6 months ago
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#1
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Senior Member
2,275 posts Joined: Jun 2010 
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Official Website
https://www.ptptn.gov.my/simpan-sspn/ This post has been edited by alexkos: Jun 15 2025, 08:11 AM |
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Apr 3 2011, 01:52 PM
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#2
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Junior Member
194 posts Joined: Aug 2009
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about 2.5 percent if i`m not mistaken
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Apr 3 2011, 01:54 PM
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#3
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2,275 posts Joined: Jun 2010
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with 4% dividend every year?
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Apr 3 2011, 02:01 PM
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#4
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Junior Member
194 posts Joined: Aug 2009
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2. Skim Simpanan Pendidikan Nasional (SSPN) dividend for 2010 on 3.25% rate has been credited to SSPN depositors account on 10th March 2011. Depositors can check their account through e-SSPN.
sos http://www.ptptn.gov.my/web/english/home |
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Apr 3 2011, 02:04 PM
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#5
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2,275 posts Joined: Jun 2010
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thx man! still need to know about the saving rate.
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Apr 3 2011, 02:17 PM
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#6
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All Stars
11,954 posts Joined: May 2007  
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2.5%pa
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Apr 3 2011, 09:07 PM
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#7
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Senior Member
1,120 posts Joined: May 2006 From: Klang, Serdang, Seri Kembangan,Cheras  
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ASM 6.68% last year.
credited to my acc. |
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Apr 3 2011, 09:13 PM
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#8
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All Stars
11,954 posts Joined: May 2007
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QUOTE(NelsonBoy @ Apr 3 2011, 09:07 PM) ASM 6.68% last year. u blind?credited to my acc.  people ask for SSPN Saving rate not ASM |
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Apr 3 2011, 11:04 PM
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#9
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Senior Member
1,120 posts Joined: May 2006 From: Klang, Serdang, Seri Kembangan,Cheras
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QUOTE(MNet @ Apr 3 2011, 09:13 PM) u blind? duhhh people ask for SSPN Saving rate not ASM  i am informing ppl here about one of the highest interest rate available |
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Apr 3 2011, 11:13 PM
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Senior Member
1,830 posts Joined: Aug 2010 From: Kuala Lumpur 
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the most attractive part is the tax rebate isnt it  stanck liked this post
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Apr 4 2011, 02:00 AM
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Junior Member
163 posts Joined: Oct 2010
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Well, this might be a bit off topic but, comparing SSPN with mutual funds, which should I choose as a student because the tax reduction is only applicable for parents/guardian? This post has been edited by Ken.B: Apr 4 2011, 02:19 AM WaNaWe900 liked this post
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Apr 4 2011, 08:21 AM
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Junior Member
408 posts Joined: Dec 2010
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QUOTE(property101 @ Apr 3 2011, 11:13 PM) the most attractive part is the tax rebate isnt it Tax rebat only for one year, but u have to tie your fund for many years. |
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Apr 4 2011, 02:57 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(property101 @ Apr 3 2011, 11:13 PM) the most attractive part is the tax rebate isnt it It's TAX RELIEF lah....  It used to be 4% evey year ;-)  http://senseofmoney.blogspot.com/2009/09/s...idend-rate.html The dividends drop because MOST PTPTN loans are not being paid back.... This post has been edited by ronnie: Apr 4 2011, 03:01 PM |
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Apr 5 2011, 05:13 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(jeffwkh @ Apr 5 2011, 09:58 AM) i dunno how they calculate. i deposit rm 500 in 2010 and in march 2011 i get the dividen rm12 onli!!! now my acc, is rm 512 Most probably they calculated based on daily rest. Most financial institution do that nowadays. maybe this sspn is not a got place to put $$$ So if your tax rate is at say 19% and you saved RM 3,000.00, your net ROI is 19+3.5% = 22.5%. If you think that is not good, pls shoot yourself with a 0.50 Baretta. Xuzen |
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Apr 5 2011, 06:14 PM
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All Stars
11,954 posts Joined: May 2007
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if simpan wif them how to draw the money?
atm can? |
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Apr 6 2011, 04:42 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(MNet @ Apr 5 2011, 06:14 PM) if simpan wif them how to draw the money? Withdrawal form obtainable from Maybank branch. The processing is still done by PTPTN HQ. atm can? Xuzen |
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Apr 7 2011, 11:23 AM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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excuse me , but this dividend payout is merely following FD rates IMO...
But, dividend isn't the attraction it gets, the tax relief is! So, pls don't put money here if you are thinking to get some good dividend out of it.. |
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Apr 25 2011, 08:46 PM
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Senior Member
886 posts Joined: Dec 2004
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Today I received a statement.
SSPN pay only 0.8% last year.....  |
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Apr 25 2011, 09:40 PM
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Senior Member
789 posts Joined: Feb 2011
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QUOTE(CKKwan @ Apr 25 2011, 08:46 PM) Today I received a statement. When are you deposit? How much do you get? and How much do you deposit?SSPN pay only 0.8% last year..... |
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Apr 25 2011, 10:31 PM
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Junior Member
370 posts Joined: Mar 2007
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forget about SSPN, even when I need to withdraw, I need to wait for 10 working days for withdrawal to get the money.
Btw, it was a good choice for saving RM3k for income tax relief |
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Apr 26 2011, 09:35 AM
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Senior Member
1,681 posts Joined: Dec 2010 From: Selhurst Park, N9
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QUOTE(numbertwo @ Apr 7 2011, 11:23 AM) excuse me , but this dividend payout is merely following FD rates IMO... But, dividend isn't the attraction it gets, the tax relief is! So, pls don't put money here if you are thinking to get some good dividend out of it.. QUOTE(aeronlim @ Apr 25 2011, 10:31 PM) forget about SSPN, even when I need to withdraw, I need to wait for 10 working days for withdrawal to get the money. I agree with you guys. SSPN is not an attractive place to put your money savings-wise. Its purpose in the first place is for your children education in the future. Education insurance or takaful is the better way to go to be honest. But the tax relief is the major criteria in order to get some exemption. They should put some tax relief on PTPTN payment though, then everybody will pay ma Btw, it was a good choice for saving RM3k for income tax relief  |
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May 1 2011, 08:51 AM
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Senior Member
886 posts Joined: Dec 2004
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QUOTE(500Kmission @ Apr 25 2011, 09:40 PM) When are you deposit? How much do you get? and How much do you deposit? I started to deposite 3 years ago, now have 9k in account. |
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May 1 2011, 03:30 PM
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Junior Member
368 posts Joined: Feb 2009
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QUOTE(CKKwan @ May 1 2011, 08:51 AM) I started to deposite 3 years ago, now have 9k in account. No interest?Should it be 2008 = 3000 2009 = 3000 + (3000 x 2.5%) + 3000 (new deposit) = 3000 + 75 + 3000 2010 = 6075 + (6075 x 3.25) + 3000 = 9287 Where is your RM287? |
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Sep 29 2011, 10:44 AM
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Senior Member
3,294 posts Joined: Dec 2005
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Withdrawal only can be done after the child get to enroll in a higher education approved by the government? What if I want to withdraw voluntarily?
Added on September 29, 2011, 11:08 amSSPN cannot simply withdraw out the money right? This post has been edited by echoesian: Sep 29 2011, 11:08 AM |
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Sep 29 2011, 11:15 AM
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Senior Member
1,681 posts Joined: Dec 2010 From: Selhurst Park, N9
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QUOTE(echoesian @ Sep 29 2011, 10:44 AM) Withdrawal only can be done after the child get to enroll in a higher education approved by the government? What if I want to withdraw voluntarily? Precisely, its not investment-driven but long term gain for your children especially for their education, P is for Pendidikan...there is some penalty I think if you want to withdraw it outside the agreed terms, loss of benefits maybeAdded on September 29, 2011, 11:08 amSSPN cannot simply withdraw out the money right? |
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Sep 29 2011, 09:08 PM
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Senior Member
3,294 posts Joined: Dec 2005
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QUOTE(hyzam1212 @ Sep 29 2011, 11:15 AM) Precisely, its not investment-driven but long term gain for your children especially for their education, P is for Pendidikan...there is some penalty I think if you want to withdraw it outside the agreed terms, loss of benefits maybe That means even in the future if my kid enroll to oversea university, I also can't take it back? If that the case, what is the point?Added on December 8, 2011, 10:02 pmSo can anyone confirm that we only can get back the money only if our children enroll to the local universities? This post has been edited by echoesian: Dec 8 2011, 10:02 PM |
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Dec 31 2011, 08:37 AM
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Junior Member
285 posts Joined: Nov 2011
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QUOTE(ronnie @ Apr 4 2011, 02:57 PM) It's TAX RELIEF lah.... Assume your tax rate = 26% and tie your fund in SSPN for 10 years It used to be 4% evey year ;-) http://senseofmoney.blogspot.com/2009/09/s...idend-rate.html The dividends drop because MOST PTPTN loans are not being paid back.... => 26%/10 years => 2.6% dividend earn per year. Therefore, the average total return per year (base on historical data) is as follow:- Year 2003 3%+2.6% = 5.6% Year 2004 4%+2.6% = 6.6% Year 2005 4%+2.6% = 6.6% Year 2006 4%+2.6% = 6.6% Year 2007 4%+2.6% = 6.6% Year 2008 4%+2.6% = 6.6% Year 2009 2.5%+2.6% = 5.1% Year 2010 3.25%+2.6%=5.85% Year 2011 ?% + 2.6% = ?.??% Year 2012 --- --- Worth to do SSPN saving? |
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Dec 31 2011, 04:42 PM
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Senior Member
4,788 posts Joined: Feb 2011
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public mutual bond still de best .. too bad sold out...
http://www.publicmutual.com.my/application...formancenw.aspx Select PUBLIC BOND FUND in fund name.. |
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Jan 2 2012, 05:42 PM
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1,337 posts Joined: Apr 2011
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i dump RM3k in dec for income tax relief
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Jan 3 2012, 01:44 PM
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Junior Member
285 posts Joined: Nov 2011
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QUOTE(Denis @ Dec 31 2011, 08:37 AM) Assume your tax rate = 26% and tie your fund in SSPN for 10 years SSPN is only worth to invest if the total return is over 6%. i.e. the return surpass the EPF dividend rate.=> 26%/10 years => 2.6% dividend earn per year. Therefore, the average total return per year (base on historical data) is as follow:- Year 2003 3%+2.6% = 5.6% Year 2004 4%+2.6% = 6.6% Year 2005 4%+2.6% = 6.6% Year 2006 4%+2.6% = 6.6% Year 2007 4%+2.6% = 6.6% Year 2008 4%+2.6% = 6.6% Year 2009 2.5%+2.6% = 5.1% Year 2010 3.25%+2.6%=5.85% Year 2011 ?% + 2.6% = ?.??% Year 2012 --- --- Worth to do SSPN saving? |
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Mar 8 2012, 12:38 AM
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Junior Member
127 posts Joined: Feb 2007
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wrong post
This post has been edited by leahcim: Mar 8 2012, 12:40 AM |
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Mar 8 2012, 01:33 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Denis @ Jan 3 2012, 01:44 PM) SSPN is only worth to invest if the total return is over 6%. i.e. the return surpass the EPF dividend rate. A blanket statement that it's only worthwhile if >6%?Well, it depends on one's goals/reasons to use SSPN too mar right? If U compared head to head with EPF, might as well compared head to head with bond funds or even equity funds. What about REITs & Properties? Personally, i'm just doing it as an asset-subclass diversification (with tax relief) + a choice to tap PTPTN for my daughter's education loan IF needed. This post has been edited by wongmunkeong: Mar 8 2012, 01:35 PM |
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Mar 8 2012, 03:27 PM
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Senior Member
952 posts Joined: Feb 2011
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QUOTE(wongmunkeong @ Mar 8 2012, 01:33 PM) A blanket statement that it's only worthwhile if >6%? ya, me too, i just open acc for both my kids. this is to get loan easyly if needed, not for the returns. im putting very minimal just to maintain the acc with SSPN.Well, it depends on one's goals/reasons to use SSPN too mar right? If U compared head to head with EPF, might as well compared head to head with bond funds or even equity funds. What about REITs & Properties? Personally, i'm just doing it as an asset-subclass diversification (with tax relief) + a choice to tap PTPTN for my daughter's education loan IF needed. |
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Mar 8 2012, 04:20 PM
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Senior Member
1,205 posts Joined: Jan 2010
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QUOTE(wongmunkeong @ Mar 8 2012, 01:33 PM) A blanket statement that it's only worthwhile if >6%? I will only doing it for tax relief purpose, with the condition that my tax rate for the year fall into 26% categories.Well, it depends on one's goals/reasons to use SSPN too mar right? If U compared head to head with EPF, might as well compared head to head with bond funds or even equity funds. What about REITs & Properties? Personally, i'm just doing it as an asset-subclass diversification (with tax relief) + a choice to tap PTPTN for my daughter's education loan IF needed. Added on March 8, 2012, 4:24 pm QUOTE(kparam77 @ Mar 8 2012, 03:27 PM) ya, me too, i just open acc for both my kids. this is to get loan easyly if needed, not for the returns. im putting very minimal just to maintain the acc with SSPN. BTW, to maintain the account at least RM1000 in order to get the insurance.QUOTE Keistimewaan: Premium dibayar oleh PTPTN. Perlindungan RM ke RM (Dollar to Dollar) (insurans am) dan RM100,000 (insurans amanah). Khairat/pampasan kematian untuk pendeposit (RM2,000) dan penerima manfaat (RM500). Syarat: Had umur pendeposit 18 tahun hingga 65 tahun. Had umur penerima manfaat 1 hari hingga 28 tahun. Pendeposit mempunyai baki akaun sekurang-kurangnya RM1,000 pada setiap masa. Nota: Perlindungan Takaful ini tertakluk kepada Peraturan Perlindungan Takaful Berkelompok PTPTN This post has been edited by firee818: Mar 8 2012, 04:25 PM |
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Mar 21 2012, 11:04 AM
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Senior Member
4,714 posts Joined: Jan 2003
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i am a bit lazy to find out more details through google/internet...
just wondering, if you save RM500, then you are qualified to apply for like RM17k loan or something like that? or the loan is equivalent to the amount you saved? if we can put a small amount of money to be eligible for PTPTN loan in future, i think dumping in RM500 is worth it also leh...  QUOTE(kparam77 @ Mar 8 2012, 03:27 PM) ya, me too, i just open acc for both my kids. this is to get loan easyly if needed, not for the returns. im putting very minimal just to maintain the acc with SSPN. |
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Mar 21 2012, 11:29 AM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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actually the computation of the return should factor in your personal tax break.
assume your tax rate is 26%, you place 3k into the account - instant tax back of 780. in other words: your investment is only 2220 BUT you get interest based upon 3000. i.e. the interest you get is much higher. if you got 3.25% in 2010 it was for 3000 not the 2220 you actualy place. this means you get RM 97,50 for the entire year for a placement of 2220 which means the effective interest rate was actually: 4,39 percent. in other words the interest you get might not be much but it surely is better than a FD placement and it *will* better if you actually pay tax. |
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Mar 22 2012, 08:44 AM
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Senior Member
1,205 posts Joined: Jan 2010
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QUOTE(PJusa @ Mar 21 2012, 11:29 AM) actually the computation of the return should factor in your personal tax break. OK, another way of looking into it.assume your tax rate is 26%, you place 3k into the account - instant tax back of 780. in other words: your investment is only 2220 BUT you get interest based upon 3000. i.e. the interest you get is much higher. if you got 3.25% in 2010 it was for 3000 not the 2220 you actualy place. this means you get RM 97,50 for the entire year for a placement of 2220 which means the effective interest rate was actually: 4,39 percent. in other words the interest you get might not be much but it surely is better than a FD placement and it *will* better if you actually pay tax. Nevertheless, it was still lower than EPF (5.xx%) and PNB fund (6.xx%). Indeed, it is a good choice to put into it if u don't have any other sources for saving your fund....but not one of the best. |
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Mar 22 2012, 07:38 PM
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Senior Member
5,867 posts Joined: Feb 2006
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Pls take note that the tax relief is based on ANNUAL INCREAMENTAL DEPOSIT. Ie the net fresh deposit for this year total deposits/withdrawals minus last year total deposits/withdrawals.
If year 2000 opened new account and placed deposit rm3000 and no more fresh deposit thereafter till now, then only year assessment 2000 can claim rm3000 relief. Year 2011 can not claim any tax relief. If want to claim 2011 tax relief, one must deposit fresh fund in 2011 but only the fresh fund is entitle to tax relief. Added on March 22, 2012, 7:39 pmThis calculation is incorrect. QUOTE(Denis @ Dec 31 2011, 08:37 AM) Assume your tax rate = 26% and tie your fund in SSPN for 10 years This post has been edited by aeiou228: Mar 22 2012, 07:39 PM=> 26%/10 years => 2.6% dividend earn per year. Therefore, the average total return per year (base on historical data) is as follow:- Year 2003 3%+2.6% = 5.6% Year 2004 4%+2.6% = 6.6% Year 2005 4%+2.6% = 6.6% Year 2006 4%+2.6% = 6.6% Year 2007 4%+2.6% = 6.6% Year 2008 4%+2.6% = 6.6% Year 2009 2.5%+2.6% = 5.1% Year 2010 3.25%+2.6%=5.85% Year 2011 ?% + 2.6% = ?.??% Year 2012 --- --- Worth to do SSPN saving? |
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Mar 22 2012, 08:07 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(aeiou228 @ Mar 22 2012, 07:38 PM) Pls take note that the tax relief is based on ANNUAL INCREAMENTAL DEPOSIT. Ie the net fresh deposit for this year total deposits/withdrawals minus last year total deposits/withdrawals. More realistic calculations below?If year 2000 opened new account and placed deposit rm3000 and no more fresh deposit thereafter till now, then only year assessment 2000 can claim rm3000 relief. Year 2011 can not claim any tax relief. If want to claim 2011 tax relief, one must deposit fresh fund in 2011 but only the fresh fund is entitle to tax relief. Added on March 22, 2012, 7:39 pmThis calculation is incorrect. 
ZIP file with Excel attached for easy DIY. Please note: 1. Need AnalysisToolpack installed in Excel 2. Change the variables in the YELLOW cells 3. If U understand the formulas - U can change any other cells without fear Attached File(s) 
SSPN_returns.zip ( 6.6k )
Number of downloads: 2395 |
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Mar 23 2012, 02:04 PM
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Senior Member
5,867 posts Joined: Feb 2006
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Nice work mungkeong,
26 % is the minority group. Can you take the majority average income group at 12% tax bracket and calculate the effective yield per annum over 18 years ? Assuming starting deposit is 1000 and annual incremental deposit is rm1000, dividend at 3.5%pa. |
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Mar 23 2012, 03:23 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(aeiou228 @ Mar 23 2012, 02:04 PM) Nice work mungkeong, Bro - lazy lar i. The ZIPped Excel file already attached for fellow forumers to download and play with the % and other variables pertaining to their own specific "environmental configuration" to see the results %pa compounded 26 % is the minority group. Can you take the majority average income group at 12% tax bracket and calculate the effective yield per annum over 18 years ? Assuming starting deposit is 1000 and annual incremental deposit is rm1000, dividend at 3.5%pa.  ... yes yes i'm an IT fler. |
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Mar 23 2012, 04:57 PM
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Senior Member
5,867 posts Joined: Feb 2006
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QUOTE(wongmunkeong @ Mar 23 2012, 03:23 PM) Bro - lazy lar i. The ZIPped Excel file already attached for fellow forumers to download and play with the % and other variables pertaining to their own specific "environmental configuration" to see the results %pa compounded I tried but I can't get the 18 years annual confounded yield.... yes yes i'm an IT fler. |
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Mar 23 2012, 05:32 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(aeiou228 @ Mar 23 2012, 04:57 PM) I tried but I can't get the 18 years annual confounded yield. er.. i think in yr Excel, U must add/activate the "AnalysisToolpack"Note - analysis toolpack comes with Excel for free UNLESS U are using the watered down free-edition that comes with yr PC. The home & student version pun ada "Analysis Toolpack" Aiya - since i opened & checked the Excel, done and snapshot below 
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Oct 27 2012, 04:39 PM
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Senior Member
2,207 posts Joined: Aug 2008
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Thinking to save total RM6000/annum every year for my 2 kids for tax relief. But my concern is withdrawal, if my kids are not applying PTPTN, can I just close the acct when they are 18 years old or when the time I retired coz that time no need to pay tax? (by the time I retire, my 2nd kid is still in secondary school
)Can I consider interest calculation as follows? Assume I save RM6K on 1 Jan 2012 PTPTN int rate/year = 3.5% (Assume) Tax relief = 11% So can I say my total interest for my RM6K for 2012 is 3.5%+11%=14.5%? Of course if I dun top up my saving, my int rate will remain at 3.5% per year, right? Pls advise. Thanks. |
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Oct 29 2012, 05:05 PM
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Junior Member
19 posts Joined: Jan 2003
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Now....please correct me if i am wrong.
I decided to use annuity calculator at http://www.1728.org/annuity.htm If one is in the income tax bracket ,where you have to pay 10% of your annual income as tax,than i would say you deposit RM 6000 in SSPN and you would get 10% of RM 6000 which is RM600 in tax refund . Where else if you are in the higher income tax bracket,lets say 20% of annual income is tax.You will get RM 1200 in tax refund. So for 10% bracket ..you deposit only (5400+600) annualy and if you are in 20% bracket ,you deposit only (4800+1200) annualy. So to compare with outside investment, We should deposit only 5400 (10% bracket) and/or 4800(20% bracket) and use different return rate to compare. The higher income tax bracket you are..the more benefit you gain. This post has been edited by ahad: Oct 29 2012, 11:46 PM Attached thumbnail(s) 
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Nov 20 2012, 03:00 PM
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All Stars
12,267 posts Joined: Oct 2010
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QUOTE(mars1069 @ Oct 27 2012, 04:39 PM) Thinking to save total RM6000/annum every year for my 2 kids for tax relief. But my concern is withdrawal, if my kids are not applying PTPTN, can I just close the acct when they are 18 years old or when the time I retired coz that time no need to pay tax? (by the time I retire, my 2nd kid is still in secondary school Bump*)» Click to show Spoiler - click again to hide... « Any answers to this? |
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Nov 20 2012, 09:14 PM
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Junior Member
412 posts Joined: Dec 2008
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LATEST INFO FROM PTPTN CUSTOMER SERVICE FOR SSPN FUND 2012!
*WITHDRAW ANYTIME! *MIN FUND IN THE ACC IS RM20! *RM6000.00 FOR TAX RELIEF! |
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Nov 20 2012, 09:32 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(w19 @ Nov 20 2012, 09:14 PM) LATEST INFO FROM PTPTN CUSTOMER SERVICE FOR SSPN FUND 2012! Can share the link/URL?*WITHDRAW ANYTIME! *MIN FUND IN THE ACC IS RM20! *RM6000.00 FOR TAX RELIEF! I want to check on the impact on tax relief eg. Year 1 Put in $6K, get tax relief Year 2 Put in $6K, get tax relief Year 3 withdraw $12K Year 4 do nothing Year 5 Put in $6K, can get tax relief on $6K? |
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Nov 22 2012, 07:56 PM
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Junior Member
412 posts Joined: Dec 2008
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QUOTE(wongmunkeong @ Nov 20 2012, 09:32 PM) Can share the link/URL? Please call customer service to check!I want to check on the impact on tax relief eg. Year 1 Put in $6K, get tax relief Year 2 Put in $6K, get tax relief Year 3 withdraw $12K Year 4 do nothing Year 5 Put in $6K, can get tax relief on $6K? |
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Nov 22 2012, 08:40 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(w19 @ Nov 22 2012, 07:56 PM) Please call customer service to check! Oh.. they cakap je lar. Nothing in writing / website.Ok thanks |
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Nov 22 2012, 09:03 PM
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Junior Member
412 posts Joined: Dec 2008
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QUOTE(wongmunkeong @ Nov 22 2012, 08:40 PM) Oh.. they cakap je lar. Nothing in writing / website. Welcome!Ok thanks |
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Nov 27 2012, 08:53 AM
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Senior Member
2,207 posts Joined: Aug 2008
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QUOTE(prophetjul @ Nov 20 2012, 03:00 PM) Bump* Bro, still no answer for it... Any answers to this?  |
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Nov 27 2012, 09:05 AM
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All Stars
12,267 posts Joined: Oct 2010
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QUOTE(mars1069 @ Nov 27 2012, 08:53 AM) Bro, still no answer for it... Look up the website.......http://www.ptptn.gov.my/web/english/savings/statement QUOTE Depositors may make withdrawals at any time subject to the regulations set by PTPTN from time to time. Conditions for Withdrawal / Closing of Account of the National Education Savings Scheme (SSPN-i) and Required Documents Note: Please ensure that the depositor's signature is similar to the one on the SSPN-i Account Opening Form and Closing of Account Form / Deposit Withdrawal Slip / Matching Grant Claim. Please click here to print the SSPN-i Depositor's (the deceased) Beneficiary Confirmation Form and click here to print the Indemnity Bond Form. Note: Details about SSPN-i savings must be listed or specified in the Letter of Administration or Grant of Probate to allow withdrawals from the SSPN-i account of the depositor (the deceased). Should the depositor / beneficiary prefer that the amount from withdrawal / closing of account be credited directly into a bank account, please attach a copy of the front page of the savings account book / statement of account with the depositor's bank account number stated. A.Savings Withdrawal Documents to be enclosed are as follows:- 1. Deposit withdrawal slip / match grant claim; 2. Copy of depositor's MyKad / military card / police card; and 3. Copy of SSPN-i card. B.Closing of Account Documents to be enclosed are as follows:- 1. SSPN-i Account Closing Form; 2. Copy of depositor's MyKad / military card / police card; 3. Copy of SSPN-i card; and 4. Copy of death certificate (in the event of death of the beneficiary, if applicable) Note: Copies of depositor's MyKad / military card / police card, SSPN-i card and death certificate (if applicable) must be certified by the relevant authorities. Matching Grant Claim Depositors must submit supporting documents that have been certified for the purpose of matching grant claims as follows:- C. Letter of offer to pursue higher education; and fee payment slip to the institute or a letter confirming active student status at institute. D.Closing of Account upon Death of SSPN-i Depositor Documents required for closing the SSPN-i account in the event of death of the depositor are as follows:- 1. SSPN-i Account Closing Form; 2. Copy of depositor's MyKad / police card / military card; 3. Copy of beneficiary's MyKad / police card / military card; 4. SSPN-i card; and 5. Depositor's death certificate. If the balance of the SSPN-i savings account is less than RM1,000, the beneficiary shall:- 1. Submit the Beneficiary to SSPN-i Depositor (the deceased) Confirmation Form which must be certified by the relevant authorities; and 2. Complete the Indemnity Bond Form provided by PTPTN with a revenue stamp of RM10. For savings in the SSPN-i account totalling RM1,000 and above, the beneficiary must obtain a letter of administration or grant of probate by producing one of the following documents from any appointed body (the original and the copy certified by the party issuing the authorisation letter):- 1. Letter of administration / grant of probate (petition under the Probate and Administration Act 1959) issued by the High Court of Malaya; or 2. Letter of administration issued by the Land and District Office; or 3. Letter of administration issued by Amanah Raya Berhad Section 17 of the Public Trust Corporation Act 1995 (declaration / instruction). Submission of Withdrawal / Account Closure Slip Completed forms can be submitted via the PTPTN service counter at the One-Stop Centre, KL Sentral or any PTPTN agents as follows: 1. Bank Simpanan Nasional; 2. CIMB Bank Berhad; 3. Agro Bank; 4. Bank Kerjasama Rakyat Malaysia Berhad; 5. Bank Islam Malaysia Berhad;and 6. Maybank. Or Mailed to PTPTN at the following address:- National Education Fund Corporation (PTPTN) Education Savings Department, Level 6, Wisma Chase Perdana, Off Jalan Semantan, Damansara Heights, 50490 KualaLumpur. (Attn: Withdrawal and Claims Unit) Tel:03-2080 4455Fax: 03-2098 6589 |
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Nov 27 2012, 09:36 AM
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Senior Member
2,207 posts Joined: Aug 2008
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QUOTE(prophetjul @ Nov 27 2012, 09:05 AM) A.Savings Withdrawal - I saw somewhere, the amount that allow to withdraw is RM500 per year, true?B.Closing of Account - Can we close account without any reason just in case we need money urgently? Thanks. |
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Dec 1 2012, 01:09 AM
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Junior Member
475 posts Joined: Mar 2009
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Only info can find on the website is:
Starting 1 January 2012, students who wish to apply for PTPTN education financing MUST have an SSPN-i account with a minimum deposit of RM20.00. Tax relief for current year's net savings of up to RM6,000 per annum. Free insurance coverage for depositors with savings of RM1,000 and above. Savings as low as RM20 at any time and guaranteed by the government. Depositors may make withdrawals at any time subject to the regulations set by PTPTN from time to time. (what are the regulations?) So actually how long do we have to keep our money in SSPN before we can withdraw? Came across this http://www.ptptn.gov.my/docs/FAQ%20SSPN.pdf: Pengeluaran hanya boleh dibuat selepas 1 tahun menyimpan. Terdapat 2 jenis pengeluaran iaitu:- i. Pengeluaran sekali setahun pada kadar 10% daripada baki akaun atau RM500 mengikut mana yang terendah; atau ii. Pengeluaran 100% atau penutupan akaun SSPN sekiranya penerima manfaat memenuhi salah satu daripada kriteria berikut:- a. Diterima masuk ke IPT ; b. Terkeluar daripada sistem pendidikan secara sukarela atau diberhentikan atas sebab-sebab tertentu; c. Sakit berterusan yang tiada peluang untuk sembuh dengan pengesahan doktor perubatan Kerajaan; d. Keilatan kekal dengan pengesahan doktor perubatan Kerajaan; e. Kematian penerima manfaat; atau f. Kematian pendeposit. This post has been edited by CSS: Dec 1 2012, 01:20 AM |
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Dec 1 2012, 11:38 PM
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Junior Member
489 posts Joined: Nov 2012
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Tax relief only apply if you have kids right?
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Dec 2 2012, 10:06 AM
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Junior Member
431 posts Joined: Dec 2007
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QUOTE(Prophunter @ Dec 1 2012, 11:38 PM) Tax relief only apply if you have kids right? obviously |
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Dec 5 2012, 01:18 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(mars1069 @ Nov 27 2012, 09:36 AM) B.Closing of Account - Can we close account without any reason just in case we need money urgently? Yes.... the SSPN account can be closed anytime after 1 year of opening.Thanks. |
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Dec 7 2012, 10:21 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(thj1999 @ Dec 7 2012, 10:07 AM) hi all, i have 2 kids, if i put in 6k for 1 kid and my spouse put in another 6k for 2nd kid, am i right both of us also can get tax relief of 6k since we file income tax separetly? That's right.... RM6k Tax Relief effective YA2012 to YA2015 |
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Dec 9 2012, 12:42 PM
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Junior Member
158 posts Joined: Jan 2010
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could I deposit 6k for YA2012 to reduce income tax and then withdraw in 2014 without reasons?
just want to confirm coz it doesn't sound logical. |
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Dec 9 2012, 04:49 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(joyride997 @ Dec 9 2012, 12:42 PM) could I deposit 6k for YA2012 to reduce income tax and then withdraw in 2014 without reasons? Why not ?just want to confirm coz it doesn't sound logical. |
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Dec 10 2012, 12:07 AM
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Senior Member
4,714 posts Joined: Jan 2003
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cannot...see earlier post....
there's some criteria you need to meet if you want full withdrawal... QUOTE(joyride997 @ Dec 9 2012, 12:42 PM) could I deposit 6k for YA2012 to reduce income tax and then withdraw in 2014 without reasons? just want to confirm coz it doesn't sound logical. |
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Dec 11 2012, 07:54 AM
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Junior Member
158 posts Joined: Jan 2010
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i read the criteria. correct me if i'm wrong.
it means that you could only withdraw if deceased or for your kids' further education. how about emergency? what penalty are we talking about? |
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Dec 11 2012, 09:04 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(joyride997 @ Dec 11 2012, 07:54 AM) i read the criteria. correct me if i'm wrong. You can close anytime you want....it means that you could only withdraw if deceased or for your kids' further education. how about emergency? what penalty are we talking about? |
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Dec 12 2012, 10:18 PM
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Junior Member
158 posts Joined: Jan 2010
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so, i could have tax deduction for this year.. then withdraw next year 2013....
and then in Dec 2013, i add another RM6000 to have tax deduction.. and again, withdraw in 2014 Jan.... on and on and on...... OK kah? doesn't sound logical ... |
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Dec 12 2012, 10:22 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(joyride997 @ Dec 12 2012, 10:18 PM) so, i could have tax deduction for this year.. then withdraw next year 2013.... Try it and let us know... nobody knows the answer as we do not know if SSPN allows you to re-open the account.and then in Dec 2013, i add another RM6000 to have tax deduction.. and again, withdraw in 2014 Jan.... on and on and on...... OK kah? doesn't sound logical ... |
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Dec 13 2012, 02:22 PM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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QUOTE(joyride997 @ Dec 12 2012, 10:18 PM) so, i could have tax deduction for this year.. then withdraw next year 2013.... no.. they count net basis... means you can have tax deduction this year... and then in Dec 2013, i add another RM6000 to have tax deduction.. and again, withdraw in 2014 Jan.... on and on and on...... OK kah? doesn't sound logical ... then in 2013 u withdraw... u have -ve balance... then u put in another 6k.. become zero.. so no tax deduction, unless u put in 12k... and on and on... anyway, not easy to withdraw, because only few reason for full withdrawal - deceased and further children education (with proof of University/ College acceptance) partial withdrawal is allowed - 5% of your balance, and max RM100, something like that.. and very hassle to withdraw... does this help? |
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Dec 14 2012, 03:09 PM
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Junior Member
100 posts Joined: Mar 2010
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can we get tax relief of 6k for 2012?
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Dec 14 2012, 03:10 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(sunder82 @ Dec 14 2012, 03:09 PM) can we get tax relief of 6k for 2012? Yes.... if you deposit before 31-Dec-2012 |
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Dec 14 2012, 03:23 PM
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Junior Member
262 posts Joined: Dec 2007
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QUOTE(lalachong @ Dec 13 2012, 02:22 PM) no.. they count net basis... means you can have tax deduction this year... Thanks for the sharing then in 2013 u withdraw... u have -ve balance... then u put in another 6k.. become zero.. so no tax deduction, unless u put in 12k... and on and on... anyway, not easy to withdraw, because only few reason for full withdrawal - deceased and further children education (with proof of University/ College acceptance) partial withdrawal is allowed - 5% of your balance, and max RM100, something like that.. and very hassle to withdraw... does this help? This sounds like...money is easy to go in and hard to come out? With the tax relief benefit, guess this thing is able to attract more and more people to jump into the pool . I am also one...nearly...and still observing |
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Dec 14 2012, 03:35 PM
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Junior Member
100 posts Joined: Mar 2010
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Yup, it is hard to take out the money...... :-(
One way is to good to save our moeny rather than paying to government. |
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Dec 14 2012, 03:51 PM
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Junior Member
262 posts Joined: Dec 2007
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QUOTE(sunder82 @ Dec 14 2012, 03:35 PM) Yup, it is hard to take out the money...... :-( But no point to keep pumping more money into the pool, without the capability to withdraw or roll it.One way is to good to save our moeny rather than paying to government. Just hope to pay less to gov in tax, I am now change another way to put money into the same pocket (gov). By limiting the withdrawal, the organization can have guaranteed money flow for their plans, projects, investments... Sound like another FD isn't it? But FD can take out one it is dued, what about this? |
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Dec 14 2012, 04:56 PM
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Senior Member
663 posts Joined: Oct 2008
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This is what I worry, besides withdrawal part which didn't state overseas education and age of withdrawal.
Quote:- As at Aug 31, 2012, RM7.83 billion disbursed to 1.14 million students was still uncollected, with the repayment rate standing at 49 percent. http://www.malaysiakini.com/news/214490 |
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Dec 18 2012, 11:44 AM
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Junior Member
248 posts Joined: Aug 2011
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You can only withdraw a very small percentage....
QUOTE(joyride997 @ Dec 12 2012, 10:18 PM) so, i could have tax deduction for this year.. then withdraw next year 2013.... and then in Dec 2013, i add another RM6000 to have tax deduction.. and again, withdraw in 2014 Jan.... on and on and on...... OK kah? doesn't sound logical ... Added on December 18, 2012, 11:45 amHi all, Got one question here. Is it a standard procedure that the bank will photocopy your IC when you open a new account? Thank you. This post has been edited by ay@m: Dec 18 2012, 11:45 AM |
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Dec 22 2012, 09:12 PM
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Junior Member
63 posts Joined: Jan 2011
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QUOTE(wongmunkeong @ Mar 22 2012, 08:07 PM) More realistic calculations below? If I'm not mistaken, the tax relief is from 2012 to 2017 only.
ZIP file with Excel attached for easy DIY. Please note: 1. Need AnalysisToolpack installed in Excel 2. Change the variables in the YELLOW cells 3. If U understand the formulas - U can change any other cells without fear |
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Dec 28 2012, 04:37 PM
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Senior Member
1,488 posts Joined: Oct 2004
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QUOTE(jasmine2001 @ Dec 22 2012, 09:12 PM) If I'm not mistaken, the tax relief is from 2012 to 2017 only. But it would be a reasonable expectation that the government would continue giving the relief, or more likely increase the relief in the future? |
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Dec 28 2012, 05:08 PM
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Senior Member
624 posts Joined: Jan 2003
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Few months back i actually asked them on the withdrawal. according to the PTPTN at KL Sentral, you can do it anytime but must leave at least RM100 unless you plan to close the account. and when you submit the withdrawal form it will take 3 months to process.
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Dec 28 2012, 09:14 PM
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Senior Member
605 posts Joined: Nov 2012
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I am targeting this SSPN for year 2013, but it seen like scary after reading this forum.
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Dec 30 2012, 07:02 PM
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Senior Member
2,548 posts Joined: May 2005
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QUOTE Pengeluaran hanya boleh dibuat selepas 1 tahun menyimpan. Terdapat 2 jenis pengeluaran iaitu:- 31/12/12 tomorrow...i. Pengeluaran sekali setahun pada kadar 10% daripada baki akaun atau RM500 mengikut mana yang terendah; atau ii. Pengeluaran 100% atau penutupan akaun SSPN sekiranya penerima manfaat memenuhi salah satu daripada kriteria berikut:- a. Diterima masuk ke IPT ; b. Terkeluar daripada sistem pendidikan secara sukarela atau diberhentikan atas sebab-sebab tertentu; c. Sakit berterusan yang tiada peluang untuk sembuh dengan pengesahan doktor perubatan Kerajaan; d. Keilatan kekal dengan pengesahan doktor perubatan Kerajaan; e. Kematian penerima manfaat; atau f. Kematian pendeposit. in a quandary..to open account or not... 2 major questions:- Appreciate help.. 1) wants to enjoy tax exemption...but not sure how to withdraw if none of above criteria for withdrawal is met... eg not likely to use ptpn loan..eg if go overseas study ? 2) max age of beneficiary is 28 yrs...say already graduate graduate from overseas, still contribute to fund for tax exemption, then apply for close a/c at beneficiary age 28 yrs..boleh ka? QUOTE(thj1999 @ Dec 7 2012, 10:07 AM) hi all, i have 2 kids, if i put in 6k for 1 kid and my spouse put in another 6k for 2nd kid, am i right both of us also can get tax relief of 6k since we file income tax separetly? does anyone know if both spouse on separate assessment can claim 6k each for different child? |
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Dec 30 2012, 07:31 PM
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Senior Member
624 posts Joined: Jan 2003
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http://www.ptptn.gov.my/web/guest/simpanan/pengeluaran
i will call up ptptn tomorrow, just to find out again |
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Dec 30 2012, 10:37 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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31-Dec-2012 is last day for top-up to enjoy up to RM6000 Tax Relief for SSPN contribution (nett) for YA2012....
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Jan 22 2013, 05:12 PM
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Junior Member
335 posts Joined: Jan 2003
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SSPN : Disadvantages
SSPN comes with quite a few attractive advantages, but it also has its downsides. Income Tax Relief is NOT Available for Individual With Own SSPN Account As this account aims to promote savings for higher education and not for individual interest, the income tax relief is not made available unless you have a legal beneficiary for your account (your own children OR a child under your legal care OR immediate family members). So to summarise, you can still open an account for your nephew, auntie, best friend etc. but unless you fall under the categories above, you will not be given the income tax relief! Withdrawing Your Money Unfortunately, withdrawing money from your SSPN account is not a simple task! Unlike the normal savings account, SSPN has very strict rules when it comes to withdrawing your money. Depositors can only withdraw their money once a year, and the maximum amount that is allowed to be taken out is RM 500 or 10% of your total savings! A 100% withdrawal is possible but will require the beneficiary’s offer letter to local university or colleges, a vague statement on the beneficiary ‘no longer wishing to participate in the educational process’, or in the event of the beneficiaruy’s / depositor’s death or incapacitation. |
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Jan 22 2013, 09:17 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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Full closure SSPN without beneficiary’s offer letter to local university or colleges, a vague statement on the beneficiary ‘no longer wishing to participate in the educational process’, or in the event of the beneficiaruy’s / depositor’s death or incapacitation is possible.
This post has been edited by ronnie: Jan 22 2013, 09:17 PM |
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Feb 1 2013, 10:54 AM
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Junior Member
7 posts Joined: Nov 2008
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QUOTE(smile93 @ Jan 22 2013, 05:12 PM) SSPN : Disadvantages read carefully... it says withdrawal is only permitted with offer from local uni. other websites say govt approved uni only. nothing on official website detailing list of uni or if private/shophouse college qualifies. come 18 years, when your child is old enough to enroll, the approved uni list will most likely have changed and you will need another 10 years to complete the withdrawal. the only other way to get the money out is if your child gets a certificate of death. SSPN comes with quite a few attractive advantages, but it also has its downsides. Income Tax Relief is NOT Available for Individual With Own SSPN Account As this account aims to promote savings for higher education and not for individual interest, the income tax relief is not made available unless you have a legal beneficiary for your account (your own children OR a child under your legal care OR immediate family members). So to summarise, you can still open an account for your nephew, auntie, best friend etc. but unless you fall under the categories above, you will not be given the income tax relief! Withdrawing Your Money Unfortunately, withdrawing money from your SSPN account is not a simple task! Unlike the normal savings account, SSPN has very strict rules when it comes to withdrawing your money. Depositors can only withdraw their money once a year, and the maximum amount that is allowed to be taken out is RM 500 or 10% of your total savings! A 100% withdrawal is possible but will require the beneficiary’s offer letter to local university or colleges, a vague statement on the beneficiary ‘no longer wishing to participate in the educational process’, or in the event of the beneficiaruy’s / depositor’s death or incapacitation. the benefits list is sooo long... but withdrawal terms are so loosely written... i smell a big fat rat for ppl who can save up to 6k a year, to be entitled to the 26% effective savings, i think they already have quite a bit of income so no need govt uni. good scheme... but not enough to fool ppl smart who earn enough to save 6k a year for one child. damn stupid. pay 26% tax a year to a govt who don't even take care of your kids' education. with my analysis above, the scheme will definitely collapse and i will get a call from someone in the internal affairs ministry... again. |
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Feb 1 2013, 10:59 AM
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Junior Member
7 posts Joined: Nov 2008
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QUOTE(joyride997 @ Dec 12 2012, 10:18 PM) so, i could have tax deduction for this year.. then withdraw next year 2013.... why u ppl no read... 10% a year withdrawal only. so u put in 6k each year from YA2012 to YA2015, u get a total savings of 18k that you can only take out over a 10 year period. or if your child graduates with certificate of death.and then in Dec 2013, i add another RM6000 to have tax deduction.. and again, withdraw in 2014 Jan.... on and on and on...... OK kah? doesn't sound logical ... |
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Mar 4 2013, 03:04 PM
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Junior Member
200 posts Joined: Jul 2008 From: Selangor
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Anybody having problem logging in to the SSPN website?
Shows the pwd incorrect. Even after i reset the pwd and pwd sent to me, still unable to login. Pening la like this. |
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Mar 4 2013, 06:45 PM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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Has sspn declared the dividen for 2012 yet?
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Mar 4 2013, 06:46 PM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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QUOTE(sidanos @ Mar 4 2013, 03:04 PM) Anybody having problem logging in to the SSPN website? This year I have to re-register the login... The old login id (which is the account number) is no longer usable, it has to be ic number this time.Shows the pwd incorrect. Even after i reset the pwd and pwd sent to me, still unable to login. Pening la like this. |
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Mar 7 2013, 11:05 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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SSPN Dividend 2012 has been creditted
    This post has been edited by ronnie: Mar 7 2013, 11:05 PM |
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Mar 7 2013, 11:21 PM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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QUOTE(ronnie @ Mar 7 2013, 11:05 PM) SSPN Dividend 2012 has been creditted Ah great.. Ay idea what the d.rate is? |
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Mar 8 2013, 11:50 AM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(numbertwo @ Mar 7 2013, 11:21 PM) Ah great.. Ay idea what the d.rate is? For me it is a ROI of 30.25% for Y2012.Xuzen |
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Mar 8 2013, 12:01 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(xuzen @ Mar 8 2013, 11:50 AM) For me it is a ROI of 30.25% for Y2012. How do you calculate such high ROI ??Xuzen |
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Mar 8 2013, 12:04 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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You included the 'tax savings' as part of your ROI calculation?
QUOTE(xuzen @ Mar 8 2013, 11:50 AM) For me it is a ROI of 30.25% for Y2012. Xuzen |
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Mar 8 2013, 12:06 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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Any idea how much was the dividend for 2012? I did rough calculation it's around 4.2x% ?
Update: Nevermind, just saw it at SSPN website 4.25%... was hoping for it to be closer to EPF....  This post has been edited by poolcarpet: Mar 8 2013, 12:08 PM |
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Mar 8 2013, 12:25 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(poolcarpet @ Mar 8 2013, 12:06 PM) Any idea how much was the dividend for 2012? I did rough calculation it's around 4.2x% ? It won't be close to EPF dividend lah Update: Nevermind, just saw it at SSPN website 4.25%... was hoping for it to be closer to EPF....  |
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Mar 8 2013, 01:07 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(poolcarpet @ Mar 8 2013, 12:04 PM) You included the 'tax savings' as part of your ROI calculation? LOL, yes of course. I kena tax'ed at the highest tax bracket... so it is beneficial to me to "plan" my tax. Xuzen |
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Mar 8 2013, 01:14 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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Ok, I was just thinking about this... most will put in RM3k into SSPN in order to take advantage of the tax relief, and gain up to RM780 in 'instant' returns, correct?
I just quickly created an excel with simple calculation, » Click to show Spoiler - click again to hide... « and let's assume we only look at 1 year investment return (because year 2-year n is just a repeat of this year 1 investment), RM3k put in SSPN and RM3k-RM780=RM2220 put in another investment. Over 17 years, if I can get consistently 2% higher return rate than SSPN dividend, I actually end up with MORE money at the end! Is my calculation correct or am I missing something here? Anyone understand what I'm trying to say here? |
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Mar 8 2013, 02:35 PM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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QUOTE(poolcarpet @ Mar 8 2013, 12:06 PM) Any idea how much was the dividend for 2012? I did rough calculation it's around 4.2x% ? In the past I think it manage to do well, better than just FD..so yeah, it won't match EPF in anyway you can imagine.. Update: Nevermind, just saw it at SSPN website 4.25%... was hoping for it to be closer to EPF.... But like what everybody does, its purpose is for tax relief. Remember we have 6K instead of 3K tax relief this year . |
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Mar 8 2013, 02:40 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(numbertwo @ Mar 8 2013, 02:35 PM) Remember we have 6K instead of 3K tax relief this year . The RM6k tax relief for SSPN starts from Year Assessment 2012 onwards |
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Mar 9 2013, 12:26 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(poolcarpet @ Mar 8 2013, 01:14 PM) Ok, I was just thinking about this... most will put in RM3k into SSPN in order to take advantage of the tax relief, and gain up to RM780 in 'instant' returns, correct? First I use Excel to do the calculation. I just quickly created an excel with simple calculation, » Click to show Spoiler - click again to hide... « and let's assume we only look at 1 year investment return (because year 2-year n is just a repeat of this year 1 investment), RM3k put in SSPN and RM3k-RM780=RM2220 put in another investment. Over 17 years, if I can get consistently 2% higher return rate than SSPN dividend, I actually end up with MORE money at the end! Is my calculation correct or am I missing something here? Anyone understand what I'm trying to say here? I pull it for 17 years. Under column 1: I put in a figure of RM 4,400.00 i.e., RM 6,000.00 less 26%. This means your actual capital is RM 6000.00 - less 26% = RM 4,400.00 Under column 2: I put in a figure of RM 6,000.00 because this is the actual amount put into SSPN every year for the next 17 years consistently. Under column 3: I key in the formula =Column 2 x 1.04 because I assume SSPN will give a dividend of 4% consistently throughout the whole 17 year tenure. I repeat the process until I get 17 rows i.e., 17 payment periods. What I get essentially is: i) PV = 0 since I start accumulating from zero value ii) FV = RM 147,872.48 i.e., the total accumulated future value inc dividend reinvested. iii) N = 17 i.e., 17 years tenure. iv) PMT = RM 4,440.00 i.e. the actual capital outlay per period of time v) Mode = End, since the dividend is paid at the end of the period. From all the 5 parameters above I am able to calculate I, i.e. the Internal Rate of return for this series of investment using a financial calculator. And from my calculator, the IRR (I) = 7.85% p.a. Taking into a/c the tax savings, this SSPN saving vehicle is able to give a return of 7.85%p.a. Can you compare SSPN rtn with an equity unit trust rtn in a direct way? The answer is no. Because another component we have to take into a/c is Risk adjusted return. For SSPN, I'll say its volatility or standard deviation from mean (the measurable parameter for riskiness) is very similar to money market fund i.e., around 0.1% For an efficient unit trust, the usual standard deviation from mean is around 8% and a typical long term rtn is around 10% p.a. So, let's compare the risk adjusted return of SSPN vs a efficient equity unit trust. SSPN = (7.85 - risk free rate)/standard deviation = (7.85 - 3.1)/0.1 = 47.5 where the risk free rate I take is the current retail 12Mth FD rate Unit Trust = (10 - 3.1)/8 = 0.8625 So if that is the case, does that mean we should dump everything into SSPN? The answer is no, because SSPN tax benefit stops at RM 6,000.00 p.a. So it is not enough to accumulate for a child education. However, SSPN plays a volatility reducing role in your overall portfolio for your child education. Xuzen |
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Mar 9 2013, 01:26 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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  QUOTE(xuzen @ Mar 9 2013, 12:26 PM) First I use Excel to do the calculation. This post has been edited by poolcarpet: Mar 9 2013, 01:29 PMI pull it for 17 years. Under column 1: I put in a figure of RM 4,400.00 i.e., RM 6,000.00 less 26%. This means your actual capital is RM 6000.00 - less 26% = RM 4,400.00 Under column 2: I put in a figure of RM 6,000.00 because this is the actual amount put into SSPN every year for the next 17 years consistently. Under column 3: I key in the formula =Column 2 x 1.04 because I assume SSPN will give a dividend of 4% consistently throughout the whole 17 year tenure. I repeat the process until I get 17 rows i.e., 17 payment periods. What I get essentially is: i) PV = 0 since I start accumulating from zero value ii) FV = RM 147,872.48 i.e., the total accumulated future value inc dividend reinvested. iii) N = 17 i.e., 17 years tenure. iv) PMT = RM 4,440.00 i.e. the actual capital outlay per period of time v) Mode = End, since the dividend is paid at the end of the period. From all the 5 parameters above I am able to calculate I, i.e. the Internal Rate of return for this series of investment using a financial calculator. And from my calculator, the IRR (I) = 7.85% p.a. Taking into a/c the tax savings, this SSPN saving vehicle is able to give a return of 7.85%p.a. Can you compare SSPN rtn with an equity unit trust rtn in a direct way? The answer is no. Because another component we have to take into a/c is Risk adjusted return. For SSPN, I'll say its volatility or standard deviation from mean (the measurable parameter for riskiness) is very similar to money market fund i.e., around 0.1% For an efficient unit trust, the usual standard deviation from mean is around 8% and a typical long term rtn is around 10% p.a. So, let's compare the risk adjusted return of SSPN vs a efficient equity unit trust. SSPN = (7.85 - risk free rate)/standard deviation = (7.85 - 3.1)/0.1 = 47.5 where the risk free rate I take is the current retail 12Mth FD rate Unit Trust = (10 - 3.1)/8 = 0.8625 So if that is the case, does that mean we should dump everything into SSPN? The answer is no, because SSPN tax benefit stops at RM 6,000.00 p.a. So it is not enough to accumulate for a child education. However, SSPN plays a volatility reducing role in your overall portfolio for your child education. Xuzen |
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Mar 10 2013, 06:34 PM
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Senior Member
1,337 posts Joined: Apr 2011
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QUOTE(ronnie @ Mar 8 2013, 02:40 PM) The RM6k tax relief for SSPN starts from Year Assessment 2012 onwards anyone can confirm...3k or 6k |
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Mar 10 2013, 06:49 PM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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all that I know is, new tax relief of 6k will be enforced starting assessment year of 2012....darn i missed it last year..didn't take too much notice abt our budget announcement..heh
This post has been edited by numbertwo: Mar 10 2013, 06:49 PM |
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Mar 10 2013, 06:58 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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It is RM6k for year of assessment 2012-2017
http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1 http://www.ptptn.gov.my/web/guest/simpanan/istimewa QUOTE(popice2u @ Mar 10 2013, 06:34 PM) anyone can confirm...3k or 6k |
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Mar 10 2013, 07:29 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(popice2u @ Mar 10 2013, 06:34 PM) anyone can confirm...3k or 6k $6K for SSPN 2011 tax relief (i just filed online).PS: Corrections 2012 hehe - thanks poolcarpet This post has been edited by wongmunkeong: Mar 10 2013, 10:57 PM |
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Mar 10 2013, 07:39 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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you do mean 2012 tax relief right? not 2011.... ?
QUOTE(wongmunkeong @ Mar 10 2013, 07:29 PM) $6K for SSPN 2011 tax relief (i just filed online). |
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Mar 10 2013, 09:12 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(poolcarpet @ Mar 10 2013, 07:39 PM) you do mean 2012 tax relief right? not 2011.... ? whoops heheh - siaran tergendala, now is 2013, not 2012.Yup, starts 2012 $6K tax relief |
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Mar 10 2013, 09:24 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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 i thought i missed out on 2011 QUOTE(wongmunkeong @ Mar 10 2013, 09:12 PM) whoops heheh - siaran tergendala, now is 2013, not 2012. Yup, starts 2012 $6K tax relief |
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Mar 12 2013, 08:48 AM
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Junior Member
30 posts Joined: May 2010
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QUOTE(poolcarpet @ Mar 8 2013, 12:06 PM) Any idea how much was the dividend for 2012? I did rough calculation it's around 4.2x% ? Yes. It was updated few days ago. But just now i login again, the record for dividend 2012 disappear. Seems PTPTN rollback all the dividend for 2012. Update: Nevermind, just saw it at SSPN website 4.25%... was hoping for it to be closer to EPF.... Anyone can confirm? |
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Mar 12 2013, 09:05 AM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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QUOTE(lukaka @ Mar 12 2013, 08:48 AM) Yes. It was updated few days ago. But just now i login again, the record for dividend 2012 disappear. Seems PTPTN rollback all the dividend for 2012. same here, I'm unable to see any dividend payout today... Anyone can confirm? |
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Mar 12 2013, 09:29 AM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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same, it was there few days ago, now missing. maybe they are doing something on the system, just check again later or tomorrow. (and print out and keep!)
and last week or so, couldn't login but heard some registered new account/password then ok, but i didn't and just tried again and it's ok, don't know what kind of system they are running?  btw, no one won the sspn simpanan bonanza? RM100k....  http://www.ptptn.gov.my/docs/Senarai%20Pem...nanza-siri1.pdf http://www.ptptn.gov.my/docs/Keputusan%20p...iri%20Kedua.pdf QUOTE(numbertwo @ Mar 12 2013, 09:05 AM) same here, I'm unable to see any dividend payout today... This post has been edited by poolcarpet: Mar 12 2013, 09:30 AM |
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Mar 12 2013, 09:43 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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I did print when I saw the Dividend for Y2012... now it's missing
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Mar 12 2013, 10:22 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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Their IT & IS people OR their accounting ppl shd be shot for such "reporting". Show then remove
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Mar 12 2013, 10:24 AM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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maybe want to give us more!
 QUOTE(wongmunkeong @ Mar 12 2013, 10:22 AM) Their IT & IS people OR their accounting ppl shd be shot for such "reporting". Show then remove |
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Mar 12 2013, 06:52 PM
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Senior Member
3,580 posts Joined: Oct 2007 From: everywhere in sabah
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erm, wanna ask
my father applied SSPN(under my dad name) when i applied PTPTN now that he passed away, what should i do abt it? passed away 1 year+ already |
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Mar 19 2013, 10:52 AM
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Junior Member
11 posts Joined: Nov 2012
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Hi just asking, let's say I deposited RM6000 in year 2012 for one kid, so in year 2013 when I file for income tax, I am eligible for tax relief of RM6000. Then I leave the balance of SSPN as it is without any top-up in year 2013. When in year 2014, do I still enjoy the tax relief of RM6000 because of the balance, or not eligible because no additional top-up?
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Mar 19 2013, 01:03 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(kellyt92 @ Mar 19 2013, 10:52 AM) Hi just asking, let's say I deposited RM6000 in year 2012 for one kid, so in year 2013 when I file for income tax, I am eligible for tax relief of RM6000. Then I leave the balance of SSPN as it is without any top-up in year 2013. When in year 2014, do I still enjoy the tax relief of RM6000 because of the balance, or not eligible because no additional top-up? Of course no Tax Relief for YA2013 if you did not top-up in Year 2013 |
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Mar 19 2013, 03:47 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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SSPN-i statement is available again! Quick check/print and keep a copy
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Mar 19 2013, 03:53 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(poolcarpet @ Mar 19 2013, 03:47 PM) SSPN-i statement is available again! Quick check/print and keep a copy yeah, it's up but still no "interest" stated  |
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Mar 19 2013, 04:01 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(poolcarpet @ Mar 19 2013, 03:47 PM) SSPN-i statement is available again! Quick check/print and keep a copy With Dividend ? |
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Mar 19 2013, 04:04 PM
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Senior Member
548 posts Joined: Sep 2005 From: Mars
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Click on lihat terperinci, then select year 2012..... 2013 will not show dividend...
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Mar 19 2013, 11:01 PM
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Junior Member
11 posts Joined: Nov 2012
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QUOTE(ronnie @ Mar 19 2013, 01:03 PM) Of course no Tax Relief for YA2013 if you did not top-up in Year 2013 Thx  |
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Mar 19 2013, 11:48 PM
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Senior Member
2,804 posts Joined: Jan 2003
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Mine not showing dividend...
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Mar 25 2013, 12:13 PM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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so is it no dividend declared?? o..
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Mar 25 2013, 12:19 PM
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Senior Member
1,192 posts Joined: Jan 2003 From: Bandar Utama
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So what is the dividend for 2012? Can anyone advise?
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Mar 31 2013, 08:48 PM
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Junior Member
65 posts Joined: Jan 2013
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QUOTE(NelsonBoy @ Apr 3 2011, 11:04 PM) duhhh Asm very hard to get la bro.. i am informing ppl here about one of the highest interest rate available |
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Apr 2 2013, 09:23 PM
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Senior Member
1,784 posts Joined: Mar 2009 From: PJ lamansara... :D
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I think it is around 4.18%... I have just printed it out... Don't forget to click on 'lihat terperinci'.
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Apr 12 2013, 03:42 PM
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Junior Member
190 posts Joined: Jan 2013
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QUOTE(alexkos @ Apr 3 2011, 01:39 PM) anyone know anything about this? Ard 2.7 I thinkYearly dividend @3.25% at 2010 Saving rate=2.5% |
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May 23 2013, 08:43 AM
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Senior Member
1,143 posts Joined: Sep 2008
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I am contemplating to open this account. Will check later at the one-stop PTPTN later.
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Oct 12 2013, 01:03 PM
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Senior Member
1,137 posts Joined: Jan 2009
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Maybank said can only open sspn once my kid is minimum 6 months old.... true ka?
Cos my baby born in jul so if wait 6 months is jan 2014... so cant put in 6k for 2013... anyone can help? |
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Oct 12 2013, 01:27 PM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(ruben7389 @ Oct 12 2013, 01:03 PM) Maybank said can only open sspn once my kid is minimum 6 months old.... true ka? guess it is NOT correct,Cos my baby born in jul so if wait 6 months is jan 2014... so cant put in 6k for 2013... anyone can help? Apakah had umur untuk Pendeposit dan Penerima Manfaat? Pendeposit SSPN hendaklah berumur 18 tahun dan ke atas manakala had umur Penerima Manfaat adalah antara 1 hari hingga 28 tahun (1 hari sebelum hari lahir ke 29 tahun). Penerima Manfaat yang telah mencapai umur 29 tahun dan ke atas hendaklah membuka untuk dirinya sendiri. http://www.ptptn.gov.my/docs/FAQ%20SSPN.pdf |
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Dec 31 2013, 08:25 AM
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Senior Member
1,488 posts Joined: Oct 2004
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Today will be the last day if anyone want to get the RM6000 tax relief for this year!!
This post has been edited by vergas: Dec 31 2013, 08:26 AM |
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Dec 31 2013, 02:03 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(vergas @ Dec 31 2013, 08:25 AM) Today will be the last day if anyone want to get the RM6000 tax relief for this year!! Can single open an a/c? |
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Dec 31 2013, 02:40 PM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(wil-i-am @ Dec 31 2013, 02:03 PM) Can single open an a/c? i guess CAN..refer to http://www.ptptn.gov.my/docs/FAQ%20SSPN.pdf This post has been edited by yklooi: Dec 31 2013, 02:44 PM |
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Dec 31 2013, 03:10 PM
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Senior Member
1,488 posts Joined: Oct 2004
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QUOTE(wil-i-am @ Dec 31 2013, 02:03 PM) Can single open an a/c? Yes, but it seems that the tax relief is only for parents keeping money for their children.... |
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Feb 16 2014, 05:27 PM
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Senior Member
10,001 posts Joined: May 2013
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When SSPN will declare dividend for 2013?
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Feb 20 2014, 11:03 AM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(xuzen @ Mar 9 2013, 12:26 PM) First I use Excel to do the calculation. Hi Xuzen,I pull it for 17 years. Under column 1: I put in a figure of RM 4,400.00 i.e., RM 6,000.00 less 26%. This means your actual capital is RM 6000.00 - less 26% = RM 4,400.00 Under column 2: I put in a figure of RM 6,000.00 because this is the actual amount put into SSPN every year for the next 17 years consistently. Under column 3: I key in the formula =Column 2 x 1.04 because I assume SSPN will give a dividend of 4% consistently throughout the whole 17 year tenure. I repeat the process until I get 17 rows i.e., 17 payment periods. What I get essentially is: i) PV = 0 since I start accumulating from zero value ii) FV = RM 147,872.48 i.e., the total accumulated future value inc dividend reinvested. iii) N = 17 i.e., 17 years tenure. iv) PMT = RM 4,440.00 i.e. the actual capital outlay per period of time v) Mode = End, since the dividend is paid at the end of the period. From all the 5 parameters above I am able to calculate I, i.e. the Internal Rate of return for this series of investment using a financial calculator. And from my calculator, the IRR (I) = 7.85% p.a. Taking into a/c the tax savings, this SSPN saving vehicle is able to give a return of 7.85%p.a. Can you compare SSPN rtn with an equity unit trust rtn in a direct way? The answer is no. Because another component we have to take into a/c is Risk adjusted return. For SSPN, I'll say its volatility or standard deviation from mean (the measurable parameter for riskiness) is very similar to money market fund i.e., around 0.1% For an efficient unit trust, the usual standard deviation from mean is around 8% and a typical long term rtn is around 10% p.a. So, let's compare the risk adjusted return of SSPN vs a efficient equity unit trust. SSPN = (7.85 - risk free rate)/standard deviation = (7.85 - 3.1)/0.1 = 47.5 where the risk free rate I take is the current retail 12Mth FD rate Unit Trust = (10 - 3.1)/8 = 0.8625 So if that is the case, does that mean we should dump everything into SSPN? The answer is no, because SSPN tax benefit stops at RM 6,000.00 p.a. So it is not enough to accumulate for a child education. However, SSPN plays a volatility reducing role in your overall portfolio for your child education. Xuzen While calculating the roi, I came across your formula in this post. Thanks for the tips. I have worked out the spreadsheet as attached. In fact I am able to work out the 7.85% by using the Excel function @RATE. i.e. RATE(17,-4440,0,147872.48,0) = 7.85% I normally use this function for Annualized ROI calculation for my investment. RATE((TODAY-InvestmentDate)/365,0,-OneTimeInvestmentAmount,CurrentBalance,0) E.g. says I withdraw RM100,000 from EPF for UT investment 10 years ago, and it is double by today. Hence, Annualized Returns for the past 10 years = RATE(10,0,-100000,200000,0) = 7.18% p.a. (compounded). Am I correct? (sorry, I am no financial person) This post has been edited by tbheng: Feb 20 2014, 11:07 AM Attached thumbnail(s) 
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Feb 22 2014, 01:13 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(tbheng @ Feb 20 2014, 11:03 AM) Hi Xuzen, I am not clever with excel formula. While calculating the roi, I came across your formula in this post. Thanks for the tips. I have worked out the spreadsheet as attached. In fact I am able to work out the 7.85% by using the Excel function @RATE. i.e. RATE(17,-4440,0,147872.48,0) = 7.85% I normally use this function for Annualized ROI calculation for my investment. RATE((TODAY-InvestmentDate)/365,0,-OneTimeInvestmentAmount,CurrentBalance,0) E.g. says I withdraw RM100,000 from EPF for UT investment 10 years ago, and it is double by today. Hence, Annualized Returns for the past 10 years = RATE(10,0,-100000,200000,0) = 7.18% p.a. (compounded). Am I correct? (sorry, I am no financial person) Sorry. Xuzen |
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Feb 22 2014, 10:41 PM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(xuzen @ Feb 22 2014, 01:13 PM) I am not clever with excel formula. No worry. I got the @RATE and @XIRR functions working base on another forummer's post in this thread.Sorry. Xuzen An effective way to calculate one's investment portfolio in Excel form rather than punching into a financial calculator. Cause we can keep them all on record and continue to monitor as time goes by when market price changes or investment topup. This post has been edited by tbheng: Feb 22 2014, 10:43 PM |
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Mar 6 2014, 05:43 PM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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anyone got dividends yet?
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Mar 6 2014, 08:05 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(lalachong @ Mar 6 2014, 05:43 PM) anyone got dividends yet? Just checked at i-SSPN website and NOPE... belum dapat. Looking at 2013, the dividend was credited into the statement somewhere between late Mar to early April, usually 6 weeks after EPF's. BTW, SSPN's dividend declaration do not have the same fan-fare as its more famous counterpart (EPF). It is usually a very low-key affair. Xuzen This post has been edited by xuzen: Mar 6 2014, 08:05 PM |
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Apr 2 2014, 10:49 PM
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Senior Member
2,881 posts Joined: Oct 2006 From: Kota Kinabalu, Sabah.
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I just check havent see any dividen yet.
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Apr 7 2014, 11:36 AM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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Still no dividends yet. when lo?
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Apr 7 2014, 12:24 PM
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Senior Member
2,881 posts Joined: Oct 2006 From: Kota Kinabalu, Sabah.
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yalo, my income tax refund pun dapat liao
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Apr 9 2014, 02:12 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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Still waiting for the 2013 Dividend from SSPN
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Apr 15 2014, 10:25 AM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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Still waiting for the 2013 Dividend from SSPN sad.gif
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Apr 21 2014, 08:14 PM
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Senior Member
2,549 posts Joined: Dec 2004 From: Sungai Petani, Kedah
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how to open sspn account?
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Apr 21 2014, 08:44 PM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(mynewuser @ Apr 21 2014, 08:14 PM) how to open sspn account? try this website and its linkshope it helps http://www.ptptn.gov.my/web/english/savings/opening-account |
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Apr 24 2014, 03:13 PM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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got the dividend d. not sure percentage though...
back calculated to be 4.25%. not bad...  This post has been edited by lalachong: Apr 24 2014, 03:16 PM |
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Apr 24 2014, 10:09 PM
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Senior Member
2,714 posts Joined: May 2008
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QUOTE(lalachong @ Apr 24 2014, 03:13 PM) got the dividend d. not sure percentage though... Better than FD leh... just open the account will do? Any terms and condition?back calculated to be 4.25%. not bad... |
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Apr 24 2014, 10:10 PM
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Senior Member
2,714 posts Joined: May 2008
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Oh.. found it only applicable for your children
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Apr 24 2014, 10:14 PM
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Senior Member
5,845 posts Joined: Sep 2009
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QUOTE(lalachong @ Apr 24 2014, 03:13 PM) got the dividend d. not sure percentage though... you got dividend dated for 1.1.2014?back calculated to be 4.25%. not bad... I checked mine still nothing. So far only got RM85 dated 1.1.2013 for RM3000 placed on 17.4.2012 - about 4.2%pa. I topped up on 18.12.2013 to max out tax deduction. Was expecting to see dividend on 1.1.2014 but none till todate. |
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Apr 24 2014, 10:38 PM
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Junior Member
15 posts Joined: May 2008
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Apr 24 2014, 11:35 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(lalachong @ Apr 24 2014, 03:13 PM) got the dividend d. not sure percentage though... I also have just checked the e-sspn website and I concur that the 2013 dividend has been credited into my account.back calculated to be 4.25%. not bad... Xuzen |
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Apr 25 2014, 10:44 AM
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Senior Member
2,881 posts Joined: Oct 2006 From: Kota Kinabalu, Sabah.
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I got my dividen too..
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Apr 25 2014, 06:52 PM
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Senior Member
7,142 posts Joined: Oct 2008 From: Sin City
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It's better than FD, but too bad I'm not qualified..
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Apr 25 2014, 07:21 PM
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Senior Member
4,258 posts Joined: Nov 2012
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I can't log on. Is the website down ?
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Apr 26 2014, 11:15 AM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(lalachong @ Apr 24 2014, 03:13 PM) got the dividend d. not sure percentage though... Yeay, got mine too... back calculated to be 4.25%. not bad... I calculated around 4.21%. Don't they announce the exact interest?  |
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Apr 27 2014, 03:10 PM
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Senior Member
8,259 posts Joined: Sep 2009
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This SSPN can get tax relief for how many years?
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Apr 27 2014, 04:19 PM
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Senior Member
7,142 posts Joined: Oct 2008 From: Sin City
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QUOTE(Kaka23 @ Apr 27 2014, 03:10 PM) This SSPN can get tax relief for how many years? until gomen stopped giving it  currently gomen give max RM6k annually |
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Apr 27 2014, 04:27 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(davinz18 @ Apr 27 2014, 05:19 PM) until gomen stopped giving it Oh.. so for 2014 still got RM6K relief la.. that is great! currently gomen give max RM6k annually Lets say if my children goes to oversea university, that time I can request to withdraw 100%? |
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Apr 27 2014, 04:34 PM
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Senior Member
7,142 posts Joined: Oct 2008 From: Sin City
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QUOTE(Kaka23 @ Apr 27 2014, 04:27 PM) Oh.. so for 2014 still got RM6K relief la.. that is great! Yup if children got university/College offers. Not sure about Overseas university offer Lets say if my children goes to oversea university, that time I can request to withdraw 100%? |
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Apr 27 2014, 07:35 PM
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Senior Member
2,353 posts Joined: Dec 2006
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Guys, if I already have a SSPN account and would like to add money into it, possible?
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Apr 27 2014, 08:52 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(pipedream @ Apr 27 2014, 07:35 PM) Guys, if I already have a SSPN account and would like to add money into it, possible? Yes |
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Apr 27 2014, 08:54 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(davinz18 @ Apr 25 2014, 06:52 PM) It's better than FD, but too bad I'm not qualified.. Y u dun qualify? |
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Apr 27 2014, 08:56 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Apr 27 2014, 03:10 PM) This SSPN can get tax relief for how many years? From YA 2012 to YA 2017 |
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Apr 28 2014, 08:24 AM
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Senior Member
2,881 posts Joined: Oct 2006 From: Kota Kinabalu, Sabah.
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QUOTE(wil-i-am @ Apr 27 2014, 08:56 PM) From YA 2012 to YA 2017 The tax relief is till 2017 only? |
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Apr 28 2014, 08:51 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(tenchi0205 @ Apr 28 2014, 08:24 AM) The tax relief is till 2017 only? Yup |
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Apr 28 2014, 11:30 AM
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Senior Member
3,966 posts Joined: Nov 2007
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QUOTE(wil-i-am @ Apr 27 2014, 08:54 PM) Y u dun qualify? i also cannot, not married, no children |
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Apr 28 2014, 11:33 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(pisces88 @ Apr 28 2014, 11:30 AM) i also cannot, not married, no children Single oso can open a/c n njoy yearly dividend |
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Apr 28 2014, 11:45 AM
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Senior Member
1,064 posts Joined: Oct 2008
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sorry, can someone guide me how to apply for SSPN? Thanks guru!
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Apr 28 2014, 11:46 AM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(coo|dude @ Apr 28 2014, 11:45 AM) sorry, can someone guide me how to apply for SSPN? Thanks guru! Read post # 150. |
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Apr 28 2014, 11:57 AM
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Senior Member
3,966 posts Joined: Nov 2007
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QUOTE(wil-i-am @ Apr 28 2014, 11:33 AM) Single oso can open a/c n njoy yearly dividend hm? can? http://savemoney.my/skim-simpanan-pendidikan-nasional-sspn 'Ultimately, it all depends on you, but if you do not have a beneficiary, you won’t be eligible for the income tax relief' i dont have children, who should be the beneficiary ya? |
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Apr 28 2014, 12:04 PM
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Senior Member
3,966 posts Joined: Nov 2007
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QUOTE(wil-i-am @ Apr 28 2014, 11:33 AM) Single oso can open a/c n njoy yearly dividend oh i think you mean i can open an account, but cannot get tax relief, just get dividend right? |
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Apr 28 2014, 12:43 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(pisces88 @ Apr 28 2014, 11:57 AM) hm? can? Yo selfhttp://savemoney.my/skim-simpanan-pendidikan-nasional-sspn 'Ultimately, it all depends on you, but if you do not have a beneficiary, you won’t be eligible for the income tax relief' i dont have children, who should be the beneficiary ya? QUOTE(pisces88 @ Apr 28 2014, 12:04 PM) oh i think you mean i can open an account, but cannot get tax relief, just get dividend right? Yes |
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Apr 28 2014, 12:45 PM
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Senior Member
3,966 posts Joined: Nov 2007
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QUOTE(wil-i-am @ Apr 28 2014, 12:43 PM) Yo self historically the dividend around 2-4%, not very high actually Yes  |
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Apr 28 2014, 12:53 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(pisces88 @ Apr 28 2014, 12:45 PM) historically the dividend around 2-4%, not very high actually Past 3 yrs range from 3.75 - 4.25 which is consider gud |
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Apr 28 2014, 03:24 PM
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Senior Member
7,142 posts Joined: Oct 2008 From: Sin City
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Wah, Single can also open SSPN account. I tot only those with children can open it. Because I saw the application form. It's bit complicated & got child information need to fill. Later I go open the account
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Apr 29 2014, 12:23 PM
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Senior Member
5,750 posts Joined: Jan 2012
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but, is it the money inside only can used for 1 yr tax relief?
if want another yr, need top up the amount? and yet, the dividend din't chip in also..... |
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Apr 29 2014, 01:55 PM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(Ancient-XinG- @ Apr 29 2014, 12:23 PM) but, is it the money inside only can used for 1 yr tax relief? The amount you deposited can only claim tax relief for that year, one time only.if want another yr, need top up the amount? and yet, the dividend din't chip in also..... E.g. Deposited RM3k in 2013, entitled for tax relief for 2013 year of assessment only. To claim for tax relief again in 2014 year of assessment, need another deposit any time in 2014. Correct, dividend cannot be used for tax relief. This post has been edited by tbheng: Apr 29 2014, 02:01 PM |
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Apr 29 2014, 08:16 PM
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All Stars
18,392 posts Joined: Oct 2010
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QUOTE(tbheng @ Apr 29 2014, 01:55 PM) The amount you deposited can only claim tax relief for that year, one time only. I printed a copy of the SSPN/PTPTN statement for tax relief and found that one also get the tax relief for the dividend earned during the year.E.g. Deposited RM3k in 2013, entitled for tax relief for 2013 year of assessment only. To claim for tax relief again in 2014 year of assessment, need another deposit any time in 2014. Correct, dividend cannot be used for tax relief. For me in year 2013, dividend earned was rm536 and I put in rm5500. So Tambahan simpanan bersih bagi 2013 is 5500+536=6036. And amaun layak pelepasan cukai bagi YA2013 is rm6000(max). All the while I thought only the amount put in is considered. 
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Apr 29 2014, 08:18 PM
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All Stars
18,392 posts Joined: Oct 2010
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QUOTE(wil-i-am @ Apr 28 2014, 12:53 PM) Past 3 yrs range from 3.75 - 4.25 which is consider gud If not because of tax relief, it is not a good savings plan due to the many restriction. |
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Apr 29 2014, 09:23 PM
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Senior Member
5,750 posts Joined: Jan 2012
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Withdraw is so hard!!!
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May 3 2014, 11:01 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Can open an account first but not putting any money inside yet?
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May 4 2014, 07:27 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ May 3 2014, 11:01 PM) Can open an account first but not putting any money inside yet? Nope |
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May 4 2014, 07:51 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wil-i-am @ May 4 2014, 08:27 AM) Nope Ok.. Thanks |
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May 4 2014, 10:13 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ May 3 2014, 11:01 PM) Can open an account first but not putting any money inside yet? minimum $20 cash when opening account (that's what i remembered coz i brought a cheque - not accepted ).after that, do online transfer via MBB2U |
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May 4 2014, 10:35 AM
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Senior Member
817 posts Joined: Aug 2012
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i opened the account in dec 2013 and deposited 6000 into the acc on the same day... my current statement from sspn website didnt show any dividen received...any reasons ? anyone can shed some lights here?
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May 4 2014, 11:16 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ May 4 2014, 11:13 AM) minimum $20 cash when opening account (that's what i remembered coz i brought a cheque - not accepted Ok.. Let me go try my luck. ).after that, do online transfer via MBB2U Then will decide how much to put towards end of the year.. |
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May 4 2014, 11:17 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(Vector88 @ May 4 2014, 11:35 AM) i opened the account in dec 2013 and deposited 6000 into the acc on the same day... my current statement from sspn website didnt show any dividen received...any reasons ? anyone can shed some lights here? You put in on 31-Dec? Interest payment should be pro rate bro.. |
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May 4 2014, 01:11 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ May 4 2014, 11:16 AM) Ok.. Let me go try my luck. bwhaahha - that's EXACTLY what i did.Then will decide how much to put towards end of the year.. Put in $20, then Dec only see how much to lower my tax |
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May 4 2014, 05:19 PM
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Senior Member
817 posts Joined: Aug 2012
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QUOTE(Kaka23 @ May 4 2014, 11:17 AM) You put in on 31-Dec? Interest payment should be pro rate bro.. i am expecting it to be pro rated...i deposit it on 14dec...so far i didnt see any interest paid.... |
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May 4 2014, 05:34 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(Vector88 @ May 4 2014, 06:19 PM) i am expecting it to be pro rated...i deposit it on 14dec... Maybe you want to give them a call to check on it?!so far i didnt see any interest paid.... |
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May 9 2014, 03:46 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(tbheng @ Apr 29 2014, 01:55 PM) The amount you deposited can only claim tax relief for that year, one time only. But the SSPN statement states the amount to be claimed as Tax Relief includes dividend amount.E.g. Deposited RM3k in 2013, entitled for tax relief for 2013 year of assessment only. To claim for tax relief again in 2014 year of assessment, need another deposit any time in 2014. Correct, dividend cannot be used for tax relief. Year 2013 gets 4.25 % Dividend.... better than Y2013 FD board rate (12-month) |
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May 9 2014, 03:48 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(davinz18 @ Apr 28 2014, 03:24 PM) Wah, Single can also open SSPN account. I tot only those with children can open it. Because I saw the application form. It's bit complicated & got child information need to fill. Later I go open the account But cannot claim Tax Relief... |
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May 10 2014, 08:48 AM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(ronnie @ May 9 2014, 03:46 PM) But the SSPN statement states the amount to be claimed as Tax Relief includes dividend amount. I have rechecked my statement, tax relief amount does include the dividend... need to dive deep into the TnC. Year 2013 gets 4.25 % Dividend.... better than Y2013 FD board rate (12-month) Anyway, I have max the limit by deposit amount, so no different in my case. |
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May 10 2014, 09:39 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(tbheng @ May 10 2014, 09:48 AM) I have rechecked my statement, tax relief amount does include the dividend... need to dive deep into the TnC. How long have you invest in SSPN already? Anyway, I have max the limit by deposit amount, so no different in my case. |
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May 10 2014, 10:05 PM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(Kaka23 @ May 10 2014, 09:39 PM) How long have you invest in SSPN already? Started in 2012. |
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May 22 2014, 01:22 PM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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is there anything wrong with the sspn and ptptn login screen? cannot view my statements...
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May 25 2014, 01:28 PM
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Senior Member
830 posts Joined: Jun 2006 From: AOR <-> PJ
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Anyone have problem logging in to e-fes?
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Aug 13 2014, 10:00 AM
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Senior Member
8,259 posts Joined: Sep 2009
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hmm... still figuring out if want to put some money here or not..
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Aug 13 2014, 04:44 PM
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Senior Member
2,955 posts Joined: Sep 2009
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QUOTE(Kaka23 @ Aug 13 2014, 10:00 AM) hmm... still figuring out if want to put some money here or not.. Put in a small amount with the hope of striking something big in their lucky draws. |
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Aug 13 2014, 05:04 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(shankar_dass93 @ Aug 13 2014, 05:44 PM) Put in a small amount with the hope of striking something big in their lucky draws. What lucky draw they having? |
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Aug 13 2014, 05:21 PM
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Senior Member
2,955 posts Joined: Sep 2009
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QUOTE(Kaka23 @ Aug 13 2014, 05:04 PM) What lucky draw they having? Sorry, overlooked this tread and assumed that it was about BSN'S SSP. |
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Aug 13 2014, 05:23 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(shankar_dass93 @ Aug 13 2014, 06:21 PM) Sorry, overlooked this tread and assumed that it was about BSN'S SSP. Aliyoyo.. |
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Aug 13 2014, 10:54 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Aug 13 2014, 10:00 AM) hmm... still figuring out if want to put some money here or not.. U have until 31/12/2014 to make a decision |
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Aug 14 2014, 09:53 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wil-i-am @ Aug 13 2014, 11:54 PM) U have until 31/12/2014 to make a decision ya... just few more months. But dont think can save enough till 6K if want to put in SSPN |
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Oct 10 2014, 09:13 AM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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quick question: for the 6k tax deductable do i also factor in interest paid for 2014, i.e. deposit only 6,000 RM less interest (i.e. 600 RM) = 5,400 RM or can I only deduct 5,400 RM then from my taxes?
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Oct 10 2014, 10:31 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(PJusa @ Oct 10 2014, 09:13 AM) quick question: for the 6k tax deductable do i also factor in interest paid for 2014, i.e. deposit only 6,000 RM less interest (i.e. 600 RM) = 5,400 RM or can I only deduct 5,400 RM then from my taxes? wow.. complicated..If U do tax online - U just put in 6,000 in the SSPN box If U do manually - it's the same. It's just tax relief. If U prefer to write 5,400, U can do so and get less tax relief for just 5,400 instead of 6,000 The Gov will thank U (feel fuzzy warm feeling in yr heart) |
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Oct 10 2014, 01:43 PM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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QUOTE(wongmunkeong @ Oct 10 2014, 10:31 AM) wow.. complicated.. i dont understand this? essentially what i want to know is is the tax deductable deposit inclusive of divident received on existing deposit or not?If U do tax online - U just put in 6,000 in the SSPN box If U do manually - it's the same. It's just tax relief. If U prefer to write 5,400, U can do so and get less tax relief for just 5,400 instead of 6,000 The Gov will thank U (feel fuzzy warm feeling in yr heart) |
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Oct 10 2014, 01:46 PM
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Senior Member
1,276 posts Joined: Dec 2005 From: Klg-Ktn-Klg-KK-PG-BM
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QUOTE(PJusa @ Oct 10 2014, 01:43 PM) i dont understand this? essentially what i want to know is is the tax deductable deposit inclusive of divident received on existing deposit or not? No, tax deduction on freshly deposited fund only, divident not taxable |
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Oct 10 2014, 05:44 PM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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divident not considered fresh funds if i dont take it out? tried to clarify but cant reach anyone at Hasil or PTPTN sigh...
This post has been edited by PJusa: Oct 10 2014, 05:45 PM |
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Oct 11 2014, 10:24 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(PJusa @ Oct 10 2014, 06:44 PM) divident not considered fresh funds if i dont take it out? tried to clarify but cant reach anyone at Hasil or PTPTN sigh... Not considered |
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Oct 11 2014, 02:46 PM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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ok thanks. then i can safely deposit 6k without wasting money
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Oct 11 2014, 03:31 PM
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Senior Member
3,281 posts Joined: Dec 2013
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Can I open sppn account without kid ? Or open for kid who is not my children?
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Oct 11 2014, 09:34 PM
Show posts by this member only | IPv6 | Post
#216
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(sms2u @ Oct 11 2014, 03:31 PM) Can I open sppn account without kid ? Or open for kid who is not my children? Yes |
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Oct 12 2014, 11:35 AM
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Senior Member
3,281 posts Joined: Dec 2013
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QUOTE(wil-i-am @ Oct 11 2014, 09:34 PM) Yes Are you saying I can open sspn without a kid? How? |
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Oct 12 2014, 11:51 AM
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Senior Member
661 posts Joined: Feb 2007
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QUOTE(wongmunkeong @ Oct 10 2014, 10:31 AM) wow.. complicated.. Let say this we hit the saving and claim with LHDN max, how about next year? Do we still allow to claim further if we still keep saving in PTPN?If U do tax online - U just put in 6,000 in the SSPN box If U do manually - it's the same. It's just tax relief. If U prefer to write 5,400, U can do so and get less tax relief for just 5,400 instead of 6,000 The Gov will thank U (feel fuzzy warm feeling in yr heart) |
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Oct 12 2014, 12:56 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(techie.opinion @ Oct 12 2014, 12:51 PM) Let say this we hit the saving and claim with LHDN max, how about next year? Do we still allow to claim further if we still keep saving in PTPN? For next subsequent year, you still need to put in fresh new money to be entitled for tax relief. |
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Oct 12 2014, 02:35 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(sms2u @ Oct 12 2014, 11:35 AM) Are you saying I can open sspn without a kid? How? Tis scheme is open to every1U can claim tax deduction if u have kid, otherwise No |
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Oct 13 2014, 10:06 AM
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Senior Member
3,281 posts Joined: Dec 2013
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QUOTE(wil-i-am @ Oct 12 2014, 02:35 PM) Tis scheme is open to every1 It is only for those who have kid. No every1, ur statement is confusionU can claim tax deduction if u have kid, otherwise No |
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Oct 13 2014, 11:03 AM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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QUOTE(sms2u @ Oct 13 2014, 10:06 AM) It is only for those who have kid. No every1, ur statement is confusion You are wrong, the scheme is open to everyone, including individual, but only parent can claim for tax.Syarat - syarat Pembukaan Akaun SSPN-i Pendeposit dan penerima manfaat kepada akaun SSPN-i hendaklah warganegara Malaysia; Pendeposit boleh juga membuka akaun untuk dirinya sendiri; Setiap pendeposit hanya boleh membuka satu akaun untuk setiap penerima manfaat yang sama; Penerima manfaat mestilah berumur antara 1 hari sehingga sebelum mencapai umur 29 tahun; Penerima manfaat yang telah mempunyai akaun yang dibuka oleh seseorang pendeposit boleh membuka akaun bagi dirinya sendiri atau membuka akaun untuk warganegara Malaysia yang lain. Ini bermakna seorang penerima manfaat pada masa yang sama boleh menjadi pendeposit; dan Pendeposit yang berbeza boleh membuka akaun SSPN-i bagi penerima manfaat yang sama dan tiada had bilangan akaun bagi setiap penerima manfaat. Pelepasan taksiran cukai pendapatan ke atas simpanan SSPN-i: Ibu bapa dan ibu bapa angkat/ penjaga yang sah dari segi undang-undang yang menyimpan dalam akaun SSPN-i untuk manfaat anak diberi pelepasan sehingga maksima RM6,000.00 setahun tertakluk kepada jumlah simpanan bersih tahun semasa; Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN-i berasingan atas anak yang sama diberikan pelepasan sehingga maksima RM6,000.00 seorang setahun; Ibu bapa yang membuat taksiran bersama dan telah membuka akaun simpanan SSPN-i berasingan diberi pelepasan sehingga maksima RM6,000.00 setahun; dan Individu yang menyimpan untuk diri sendiri tidak diberi pelepasan taksiran cukai.[COLOR=red] Source: http://www.ptptn.gov.my/web/guest/simpanan |
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Oct 13 2014, 11:25 AM
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Senior Member
3,281 posts Joined: Dec 2013
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QUOTE(alex_cyw1985 @ Oct 13 2014, 11:03 AM) You are wrong, the scheme is open to everyone, including individual, but only parent can claim for tax. Everyone? It seems only for those from 1 day to 29 year old. No for people with age 30 or above open for himself /herself.Syarat - syarat Pembukaan Akaun SSPN-i Pendeposit dan penerima manfaat kepada akaun SSPN-i hendaklah warganegara Malaysia; Pendeposit boleh juga membuka akaun untuk dirinya sendiri; Setiap pendeposit hanya boleh membuka satu akaun untuk setiap penerima manfaat yang sama; Penerima manfaat mestilah berumur antara 1 hari sehingga sebelum mencapai umur 29 tahun; Penerima manfaat yang telah mempunyai akaun yang dibuka oleh seseorang pendeposit boleh membuka akaun bagi dirinya sendiri atau membuka akaun untuk warganegara Malaysia yang lain. Ini bermakna seorang penerima manfaat pada masa yang sama boleh menjadi pendeposit; dan Pendeposit yang berbeza boleh membuka akaun SSPN-i bagi penerima manfaat yang sama dan tiada had bilangan akaun bagi setiap penerima manfaat. Pelepasan taksiran cukai pendapatan ke atas simpanan SSPN-i: Ibu bapa dan ibu bapa angkat/ penjaga yang sah dari segi undang-undang yang menyimpan dalam akaun SSPN-i untuk manfaat anak diberi pelepasan sehingga maksima RM6,000.00 setahun tertakluk kepada jumlah simpanan bersih tahun semasa; Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN-i berasingan atas anak yang sama diberikan pelepasan sehingga maksima RM6,000.00 seorang setahun; Ibu bapa yang membuat taksiran bersama dan telah membuka akaun simpanan SSPN-i berasingan diberi pelepasan sehingga maksima RM6,000.00 setahun; dan Individu yang menyimpan untuk diri sendiri tidak diberi pelepasan taksiran cukai.[COLOR=red] Source: http://www.ptptn.gov.my/web/guest/simpanan Penerima manfaat mestilah berumur antara 1 hari sehingga sebelum mencapai umur 29 tahun; |
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Oct 13 2014, 08:05 PM
Show posts by this member only | IPv6 | Post
#224
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(sms2u @ Oct 13 2014, 11:25 AM) Everyone? It seems only for those from 1 day to 29 year old. No for people with age 30 or above open for himself /herself. Application is open to anyone with no age limitPenerima manfaat mestilah berumur antara 1 hari sehingga sebelum mencapai umur 29 tahun; |
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Oct 13 2014, 08:19 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(alex_cyw1985 @ Oct 13 2014, 11:03 AM) You are wrong, the scheme is open to everyone, including individual, but only parent can claim for tax. Gud Info.. Syarat - syarat Pembukaan Akaun SSPN-i Pendeposit dan penerima manfaat kepada akaun SSPN-i hendaklah warganegara Malaysia; Pendeposit boleh juga membuka akaun untuk dirinya sendiri; Setiap pendeposit hanya boleh membuka satu akaun untuk setiap penerima manfaat yang sama; Penerima manfaat mestilah berumur antara 1 hari sehingga sebelum mencapai umur 29 tahun; Penerima manfaat yang telah mempunyai akaun yang dibuka oleh seseorang pendeposit boleh membuka akaun bagi dirinya sendiri atau membuka akaun untuk warganegara Malaysia yang lain. Ini bermakna seorang penerima manfaat pada masa yang sama boleh menjadi pendeposit; dan Pendeposit yang berbeza boleh membuka akaun SSPN-i bagi penerima manfaat yang sama dan tiada had bilangan akaun bagi setiap penerima manfaat. Pelepasan taksiran cukai pendapatan ke atas simpanan SSPN-i: Ibu bapa dan ibu bapa angkat/ penjaga yang sah dari segi undang-undang yang menyimpan dalam akaun SSPN-i untuk manfaat anak diberi pelepasan sehingga maksima RM6,000.00 setahun tertakluk kepada jumlah simpanan bersih tahun semasa; Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN-i berasingan atas anak yang sama diberikan pelepasan sehingga maksima RM6,000.00 seorang setahun; Ibu bapa yang membuat taksiran bersama dan telah membuka akaun simpanan SSPN-i berasingan diberi pelepasan sehingga maksima RM6,000.00 setahun; dan Individu yang menyimpan untuk diri sendiri tidak diberi pelepasan taksiran cukai.[COLOR=red] Source: http://www.ptptn.gov.my/web/guest/simpanan |
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Oct 14 2014, 09:22 AM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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Oct 14 2014, 09:41 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(kochin @ Oct 14 2014, 09:22 AM) 10 Tabungan bersih dalam skim SSPN 3,000 (Terhad)11 Tabungan bersih dalam skim SSPN (berkuatkuasa Tahun Taksiran 2012 - 2017) 6,000 (Terhad) Item 10 was "over written" by 11 for 2012 to 2017 filing Before 2012, max tax relief for SSPN was just up to RM3,000 ie. if i withdrew $2000 from SSPN in Jan 2011, then pumped back in $5,000 in Dec 2011, i'm eligible for tax relief on $3,000 (-2000+5000) |
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Oct 14 2014, 10:56 AM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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QUOTE(wongmunkeong @ Oct 14 2014, 09:41 AM) 10 Tabungan bersih dalam skim SSPN 3,000 (Terhad) thanks for the explanation.11 Tabungan bersih dalam skim SSPN (berkuatkuasa Tahun Taksiran 2012 - 2017) 6,000 (Terhad) Item 10 was "over written" by 11 for 2012 to 2017 filing Before 2012, max tax relief for SSPN was just up to RM3,000 ie. if i withdrew $2000 from SSPN in Jan 2011, then pumped back in $5,000 in Dec 2011, i'm eligible for tax relief on $3,000 (-2000+5000) so one should be pumping in RM6k per annum until 2017 and revert back to RM3k per annum for optimising tax relieve? i just deposited mine. thanks. |
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Oct 14 2014, 11:27 AM
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Junior Member
408 posts Joined: Dec 2010
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QUOTE(MGM @ Apr 29 2014, 08:16 PM) I printed a copy of the SSPN/PTPTN statement for tax relief and found that one also get the tax relief for the dividend earned during the year. Good info.For me in year 2013, dividend earned was rm536 and I put in rm5500. So Tambahan simpanan bersih bagi 2013 is 5500+536=6036. And amaun layak pelepasan cukai bagi YA2013 is rm6000(max). All the while I thought only the amount put in is considered.
How to register online? To get annual statement online? |
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Oct 14 2014, 12:02 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(techie.opinion @ Oct 12 2014, 11:51 AM) Let say this we hit the saving and claim with LHDN max, how about next year? Do we still allow to claim further if we still keep saving in PTPN? I was WRONG (yes - i do admit mistakes )Please refer to MGM's old post & screenshot https://forum.lowyat.net/topic/1819492/+182 Apparently total savings per year = cold hard cash injected +dividends for the year! eg. 2013 cold hard cash inject + dividends for 2013 Going to go check out the statement online Thanks MGM! Updated: Yup.. dang.. now to optimize this year.. inject only $5K+ 
This post has been edited by wongmunkeong: Oct 14 2014, 12:13 PM |
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Oct 14 2014, 02:11 PM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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QUOTE(wongmunkeong @ Oct 14 2014, 12:02 PM) I was WRONG (yes - i do admit mistakes aiyoh. i over invest liao. i pumped RM6k.)Please refer to MGM's old post & screenshot https://forum.lowyat.net/topic/1819492/+182 Apparently total savings per year = cold hard cash injected +dividends for the year! eg. 2013 cold hard cash inject + dividends for 2013 Going to go check out the statement online Thanks MGM! Updated: Yup.. dang.. now to optimize this year.. inject only $5K+
dang it! |
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Oct 14 2014, 02:55 PM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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i send an email to HASIL to double check. obviously they didnt get the question. This is the reply I got:
Simpanan ke dalam tabung Skim Simpanan Pendidikan Nasional (SSPN) untuk membiayai pelajaran anak-anak diberi potongan kepada individu terhad kepada RM6,000 setahun (berkuat kuasa mulai tahun taksiran 2012 hingga 2017). Potongan yang dituntut adalah terhad kepada amaun tabungan bersih yang dilakukan di dalam sesuatu tahun sahaja. Contoh: Dalam tahun 2013 : Baki Bawa Hadapan: RM 4,500. Simpanan: RM 2,000. Pengeluaran: RM 1,500. Oleh itu, potongan yang layak dituntut adalah RM 500 (RM 2,000 – RM 1,500) sahaja. Baki Bawa Hadapan sebanyak RM 4,500 tidak diambil kira. Perenggan 46(1)(k), Akta Cukai Pendapatan 1967. Jika tuan mempunyai pertanyaan lanjut, sila hantarkan pertanyaan tuan melalui Borang Maklumbalas Online kami yang boleh dicapai melalui sambungan: http://maklumbalas.hasil.gov.my Sekian, terima kasih. But I guess the dividend is indeed net savings if I dont take it out from the account. So yeah, i can tweak my annual contribution |
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Oct 14 2014, 03:05 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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Just follow the Tax Receipt by SSPN and you can't be questioned because you just follow what it says "AMAUN LAYAK PELEPASAN CUKAI BAGI TAHUN TAKSIRAN xxxx"
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Oct 14 2014, 03:07 PM
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Junior Member
29 posts Joined: Sep 2014
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Hi all, some questions to ask, I have two SSPN account as got 2 kids. I noticed the interest % payout are not the same, details as below. Pls some one help to enlighten me. Thx.
Acc 1: Baki awal pada 1/1/2014 : 500 simpanan/pengeluaran bersih sehinngga oktober 2014: 21.25 baki simpanan pada oktober 2014 : 521.25 bakie keseluruhan simpanan sehingga oktober 2014 : 521.25 The interest payout for Acc 1 is 21.25/500*100 = 4.25% Acc 2: Baki awal pada 1/1/2014 : 12,127.5 simpanan/pengeluaran bersih sehinngga oktober 2014: 260.42 baki simpanan pada oktober 2014 : 12,387.92 bakie keseluruhan simpanan sehingga oktober 2014 : 12,387.92 The interest payout for Acc 2 is 260.42/12,127.5*100 = 2.14% I'm surprise to notice that why there is such a huge discrepancy in interest % payout? |
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Oct 14 2014, 03:10 PM
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Junior Member
29 posts Joined: Sep 2014
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QUOTE(kochin @ Oct 14 2014, 02:11 PM) aiyoh. i over invest liao. i pumped RM6k. Hi how come my online acc don't have such a details breakdown? even I click on the "Details" button. Mind to share how you get this details report?dang it! |
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Oct 14 2014, 03:20 PM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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QUOTE(ck_100 @ Oct 14 2014, 03:07 PM) Hi all, some questions to ask, I have two SSPN account as got 2 kids. I noticed the interest % payout are not the same, details as below. Pls some one help to enlighten me. Thx. I believe the interest is not based on the final amount, maybe is daily rest/monthly rest based on ur monthly contributed amount?Acc 1: Baki awal pada 1/1/2014 : 500 simpanan/pengeluaran bersih sehinngga oktober 2014: 21.25 baki simpanan pada oktober 2014 : 521.25 bakie keseluruhan simpanan sehingga oktober 2014 : 521.25 The interest payout for Acc 1 is 21.25/500*100 = 4.25% Acc 2: Baki awal pada 1/1/2014 : 12,127.5 simpanan/pengeluaran bersih sehinngga oktober 2014: 260.42 baki simpanan pada oktober 2014 : 12,387.92 bakie keseluruhan simpanan sehingga oktober 2014 : 12,387.92 The interest payout for Acc 2 is 260.42/12,127.5*100 = 2.14% I'm surprise to notice that why there is such a huge discrepancy in interest % payout? |
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Oct 14 2014, 04:11 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(ck_100 @ Oct 14 2014, 03:07 PM) Hi all, some questions to ask, I have two SSPN account as got 2 kids. I noticed the interest % payout are not the same, details as below. Pls some one help to enlighten me. Thx. There's something weird with your data.. 2014?Acc 1: Baki awal pada 1/1/2014 : 500 simpanan/pengeluaran bersih sehinngga oktober 2014: 21.25 baki simpanan pada oktober 2014 : 521.25 bakie keseluruhan simpanan sehingga oktober 2014 : 521.25 The interest payout for Acc 1 is 21.25/500*100 = 4.25% Acc 2: Baki awal pada 1/1/2014 : 12,127.5 simpanan/pengeluaran bersih sehinngga oktober 2014: 260.42 baki simpanan pada oktober 2014 : 12,387.92 bakie keseluruhan simpanan sehingga oktober 2014 : 12,387.92 The interest payout for Acc 2 is 260.42/12,127.5*100 = 2.14% I'm surprise to notice that why there is such a huge discrepancy in interest % payout? Go: http://epay.ptptn.gov.my/saving/sspnlogin.html See: 
Click on them buttons. IF U do not see such stuff.. U just started SSPN contribution this year izzit? |
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Oct 14 2014, 05:06 PM
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All Stars
18,392 posts Joined: Oct 2010
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QUOTE(wongmunkeong @ Oct 14 2014, 12:02 PM) I was WRONG (yes - i do admit mistakes U are welcome. Wah even a half-year old post is being dug out. At that time somebody was suggesting it could be a mistake and that I was taking a risk to include the dividend/interest for tax relief.)Please refer to MGM's old post & screenshot https://forum.lowyat.net/topic/1819492/+182 Apparently total savings per year = cold hard cash injected +dividends for the year! eg. 2013 cold hard cash inject + dividends for 2013 Going to go check out the statement online Thanks MGM! Updated: Yup.. dang.. now to optimize this year.. inject only $5K+
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Oct 14 2014, 05:16 PM
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Junior Member
29 posts Joined: Sep 2014
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QUOTE(wongmunkeong @ Oct 14 2014, 04:11 PM) There's something weird with your data.. 2014? HI thx for info, I started the SSPN since 2 years ago. Now I'm able to get the details breakdown as you, the reason behind is, I just click on Acc Number instead of the Button at the last column. Thx.Go: http://epay.ptptn.gov.my/saving/sspnlogin.html See:
Click on them buttons. IF U do not see such stuff.. U just started SSPN contribution this year izzit? btw, if you click on Acc number only, then you can see the latest statement. pls check it out. thx. |
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Oct 14 2014, 05:17 PM
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Junior Member
29 posts Joined: Sep 2014
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QUOTE(alex_cyw1985 @ Oct 14 2014, 03:20 PM) I believe the interest is not based on the final amount, maybe is daily rest/monthly rest based on ur monthly contributed amount? perhaps, i'm not sure about it. Anyway, if you click on Acc number link instead of the Button at last column then you can see the latest statement update. thx. |
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Oct 14 2014, 08:02 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(ck_100 @ Oct 14 2014, 05:16 PM) HI thx for info, I started the SSPN since 2 years ago. Now I'm able to get the details breakdown as you, the reason behind is, I just click on Acc Number instead of the Button at the last column. Thx. ah.. that - i havent bothered looking at that since i was doing SSPN for tax relief only btw, if you click on Acc number only, then you can see the latest statement. pls check it out. thx. and only had 1 account until recently took a peek now - wow.. my 1st a/c 4%+ now itself but the 2nd a/c is like 0.3%+ (no typo error, 21.25 / 6,000) must be some tiered thing or programming issues. check back next year on the tax relief borang for hard-data  |
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Oct 14 2014, 08:44 PM
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Senior Member
2,429 posts Joined: Jul 2007
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how would u know how many % of interest will be given for this year's savings/contribution in order to reach the 6k "tambahan simpanan bersih"?
Tambahan simpanan bersih = 6k - this year's interest |
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Oct 15 2014, 08:47 AM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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QUOTE(jutamind @ Oct 14 2014, 08:44 PM) how would u know how many % of interest will be given for this year's savings/contribution in order to reach the 6k "tambahan simpanan bersih"? you ned to use 6k - interest (=dividend) credited in 2014. dividend credited 2014 is for 2013. so you know how much you have.Tambahan simpanan bersih = 6k - this year's interest |
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Oct 15 2014, 09:11 AM
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Senior Member
8,259 posts Joined: Sep 2009
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If I put less than 6K. Then the calculationfor tax relief will be
Amount deposited in 2014 + dividend received in 2014 Right? |
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Oct 15 2014, 10:33 AM
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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QUOTE(Kaka23 @ Oct 15 2014, 09:11 AM) If I put less than 6K. Then the calculationfor tax relief will be yes, that's how i understand it. if you look at the tax receipt for 2013 you can see sthg like this:Amount deposited in 2014 + dividend received in 2014 Right? 1. BAKI AWAL PADA 1HB JANUARI 2013 : 15.326,16 2. SIMPANAN SETAKAT DISEMBER 2013 : 6.396,36 (divident + 6k deposit - i overdeposited in 2013) PELARASAN TRANSAKSI (RM) 1. TRANSAKSI TAHUN 2012 YANG TELAH DIKEMASKINI PADA TAHUN 2013 : 0,00 2. BAKI TRANSAKSI BELUM DIKEMASKINI TAHUN 2013 : 0,00 BAKI KESELURUHAN PADA 1HB JANUARI 2013 (A) : 15.326,16 BAKI KESELURUHAN PADA 31HB DISEMBER 2013 (B) : 21.722,52 BAKI TRANSAKSI TAHUN 2012 YANG TELAH DIKEMASKINI PADA TAHUN 2013 © : 0,00 BAKI TRANSAKSI BELUM DIKEMASKINI TAHUN 2013 (D) : 0,00 TAMBAHAN / (KURANGAN) SIMPANAN BERSIH BAGI TAHUN 2013 (B-A-C+D) : 6.396,36 AMAUN LAYAK PELEPASAN CUKAI BAGI TAHUN TAKSIRAN 2013 : 6.000,00 if you look at your current statement you can see that the interest for 2013 is shown in 2014 as follows: 1. BAKI AWAL PADA 1HB JANUARI 2014 : 21.722,52 2. SIMPANAN/PENGELUARAN BERSIH SEHINGGA OKTOBER 2014 : 668,21 3. SIMPANAN MELALUI FPX : 0,00 4. BAKI SIMPANAN PADA OKTOBER 2014 : 22.390,73 BAKI KESELURUHAN SIMPANAN SEHINGGA OKTOBER 2014 : 22.390,73 so i can top up on Dec31st 6k - 668.21 to max out the tax rebate. |
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Oct 15 2014, 11:54 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(PJusa @ Oct 15 2014, 11:33 AM) yes, that's how i understand it. if you look at the tax receipt for 2013 you can see sthg like this: TQ1. BAKI AWAL PADA 1HB JANUARI 2013 : 15.326,16 2. SIMPANAN SETAKAT DISEMBER 2013 : 6.396,36 (divident + 6k deposit - i overdeposited in 2013) PELARASAN TRANSAKSI (RM) 1. TRANSAKSI TAHUN 2012 YANG TELAH DIKEMASKINI PADA TAHUN 2013 : 0,00 2. BAKI TRANSAKSI BELUM DIKEMASKINI TAHUN 2013 : 0,00 BAKI KESELURUHAN PADA 1HB JANUARI 2013 (A) : 15.326,16 BAKI KESELURUHAN PADA 31HB DISEMBER 2013 (B) : 21.722,52 BAKI TRANSAKSI TAHUN 2012 YANG TELAH DIKEMASKINI PADA TAHUN 2013 © : 0,00 BAKI TRANSAKSI BELUM DIKEMASKINI TAHUN 2013 (D) : 0,00 TAMBAHAN / (KURANGAN) SIMPANAN BERSIH BAGI TAHUN 2013 (B-A-C+D) : 6.396,36 AMAUN LAYAK PELEPASAN CUKAI BAGI TAHUN TAKSIRAN 2013 : 6.000,00 if you look at your current statement you can see that the interest for 2013 is shown in 2014 as follows: 1. BAKI AWAL PADA 1HB JANUARI 2014 : 21.722,52 2. SIMPANAN/PENGELUARAN BERSIH SEHINGGA OKTOBER 2014 : 668,21 3. SIMPANAN MELALUI FPX : 0,00 4. BAKI SIMPANAN PADA OKTOBER 2014 : 22.390,73 BAKI KESELURUHAN SIMPANAN SEHINGGA OKTOBER 2014 : 22.390,73 so i can top up on Dec31st 6k - 668.21 to max out the tax rebate. |
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Nov 9 2014, 10:46 AM
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Senior Member
8,259 posts Joined: Sep 2009
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Less than 2 months to go to decide... hmmm
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Nov 19 2014, 07:47 PM
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All Stars
11,954 posts Joined: May 2007
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Nov 19 2014, 08:55 PM
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Junior Member
46 posts Joined: Dec 2009
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Nov 20 2014, 03:09 PM
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Junior Member
294 posts Joined: May 2006 From: Shah Alam
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down again...
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Dec 16 2014, 05:28 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Final call... Anyone going to invest for tax relief purpose for 2014?
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Dec 17 2014, 08:57 AM
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Senior Member
5,845 posts Joined: Sep 2009
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QUOTE(Kaka23 @ Dec 16 2014, 05:28 PM) Final call... Anyone going to invest for tax relief purpose for 2014? Yes sure, must do it for tax purpose.Today is only 17 Dec still got another 10 days to go before we go deposit in SSPN right? What is the max amount for tax deduction for 2014? Is it still the same at RM6k? |
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Dec 18 2014, 09:02 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Dec 16 2014, 05:28 PM) Final call... Anyone going to invest for tax relief purpose for 2014? eh - SSPN investment ka?more like for tax relief with FD rate + chance to get education loan for child next time yes - me, around Christmas heheh (last LAST minute) |
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Dec 18 2014, 10:21 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(guy3288 @ Dec 17 2014, 08:57 AM) Yes sure, must do it for tax purpose. 6kToday is only 17 Dec still got another 10 days to go before we go deposit in SSPN right? What is the max amount for tax deduction for 2014? Is it still the same at RM6k? |
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Dec 22 2014, 03:39 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Just open SSPN account today...
Deposit 3K |
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Dec 26 2014, 01:58 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Still short of 3K to maximize tax relief..
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Dec 28 2014, 10:49 PM
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Senior Member
2,549 posts Joined: Dec 2004 From: Sungai Petani, Kedah
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Sspn officer say withdrawal can be done any time and non subject to Max of 10%. Any confirmation?
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Dec 29 2014, 09:38 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(mynewuser @ Dec 28 2014, 11:49 PM) Sspn officer say withdrawal can be done any time and non subject to Max of 10%. Any confirmation? I am new.. need others to confirm.But hope we wont be needing this money for many many years la... If need, use our emergency fund! |
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Jan 1 2015, 10:12 PM
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Senior Member
2,549 posts Joined: Dec 2004 From: Sungai Petani, Kedah
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Understand tax rebate maxnRm6k per year. Can i confirm tax rebate programme till when?
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Jan 1 2015, 10:38 PM
Show posts by this member only | IPv6 | Post
#260
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(mynewuser @ Jan 1 2015, 10:12 PM) Understand tax rebate maxnRm6k per year. Can i confirm tax rebate programme till when? YA 2017 |
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Jan 15 2015, 02:27 PM
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Junior Member
9 posts Joined: Oct 2007
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When is the divided date ?
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Jan 15 2015, 02:41 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(panaunoo @ Jan 15 2015, 02:27 PM) When is the divided date ? usually abt 2 months after EPF announcement. |
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Jan 15 2015, 02:57 PM
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Junior Member
9 posts Joined: Oct 2007
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QUOTE(T231H @ Jan 15 2015, 02:41 PM) usually abt 2 months after EPF announcement. oic... hehe when is EPF announcement ..? |
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Jan 15 2015, 03:10 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(panaunoo @ Jan 15 2015, 02:57 PM) oic... hehe when is EPF announcement ..? abt 2 months before SSPN announce. jus cannot help it...guess it will be end Feb/Mar? check in EPF thread? |
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Jan 22 2015, 11:05 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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FYI - got my Penyata for 2014 tax filing online already
U may want to try. Note - the web server is a bit iffy on/off crashes https://epay.ptptn.gov.my/saving/sspnlogin.html |
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Jan 22 2015, 02:53 PM
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Junior Member
46 posts Joined: Dec 2009
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QUOTE(wongmunkeong @ Jan 22 2015, 11:05 AM) FYI - got my Penyata for 2014 tax filing online already thx 4 da info. how much effective tax savings we shd expect broU may want to try. Note - the web server is a bit iffy on/off crashes https://epay.ptptn.gov.my/saving/sspnlogin.html |
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Jan 22 2015, 03:44 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(kykit @ Jan 22 2015, 02:53 PM) thx 4 da info. how much effective tax savings we shd expect bro huh? SSPN tax relief is up to RM6K per annumthus if your tax bracket is 26%, that's $6K *26% = $1560 Now the fun part... I put in another $5.5K only BUT i've $6K tax relief DUE TO the interest re-invested which is counted as "additional invested for the year" heheh - U do the maths for that |
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Jan 22 2015, 05:33 PM
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Junior Member
46 posts Joined: Dec 2009
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QUOTE(wongmunkeong @ Jan 22 2015, 03:44 PM) huh? SSPN tax relief is up to RM6K per annum thx for advice from sifu2 in this forum, yes I did thus if your tax bracket is 26%, that's $6K *26% = $1560 Now the fun part... I put in another $5.5K only BUT i've $6K tax relief DUE TO the interest re-invested which is counted as "additional invested for the year" heheh - U do the maths for that |
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Jan 22 2015, 08:59 PM
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All Stars
11,954 posts Joined: May 2007
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if take out half way, then will get pro rate interest?
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Jan 23 2015, 09:00 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(wongmunkeong @ Jan 22 2015, 03:44 PM) huh? SSPN tax relief is up to RM6K per annum That's plus point many fail to see... some say that's not right. thus if your tax bracket is 26%, that's $6K *26% = $1560 Now the fun part... I put in another $5.5K only BUT i've $6K tax relief DUE TO the interest re-invested which is counted as "additional invested for the year" heheh - U do the maths for that We copy the correct amount shown on "AMAUN LAYAK PELEPASAN CUKAI BAGI TAHUN TAKSIRAN 2014" and LHDN can't tell us that's wrong. |
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Jan 23 2015, 10:27 AM
Show posts by this member only | IPv6 | Post
#271
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Junior Member
242 posts Joined: Jan 2014
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QUOTE(ronnie @ Jan 23 2015, 09:00 AM) That's plus point many fail to see... some say that's not right. There could be LHDN ppl looking at this We copy the correct amount shown on "AMAUN LAYAK PELEPASAN CUKAI BAGI TAHUN TAKSIRAN 2014" and LHDN can't tell us that's wrong. later they close the loophole jk |
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Feb 8 2015, 08:48 PM
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Junior Member
376 posts Joined: Dec 2013
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Is the SSPN interest calculated on the same basis as EPF (interest calculated from the last day of the month even if the deposit is made on the first day of the month)?
TQ |
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Mar 8 2015, 09:51 PM
Show posts by this member only | IPv6 | Post
#273
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Senior Member
10,001 posts Joined: May 2013
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When PTPTN will announce Dividend for 2014?
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Apr 2 2015, 11:47 AM
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Senior Member
10,001 posts Joined: May 2013
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Second Education Minister Idris Jusoh launches SSPN-1 Dividend at Dewan Tun Hussein Onn Putra World Trade Centre (PWTC) at 1000 (0200 GMT)
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Apr 2 2015, 03:08 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(wil-i-am @ Apr 2 2015, 11:47 AM) Second Education Minister Idris Jusoh launches SSPN-1 Dividend at Dewan Tun Hussein Onn Putra World Trade Centre (PWTC) at 1000 (0200 GMT) So what's the dividend rate for 2014 ? |
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Apr 3 2015, 08:31 AM
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Junior Member
253 posts Joined: May 2007
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guys, I have been thinking about SSPN. Hope someone can shed some light on this. Is SSPN really a good medium to save money?
Let's say I save RM6k this year, and get the max deduction of 26%, I can get RM1,560 refund. Subsequently, this 6k might entitle to a dividend of say 3-4% every year? I can't withdraw this money until my children are being offered a place in tertiary education (no flexibility). what if I can save the same amount of money in another investment, which generate more than 5% every year, in the end I will have both higher savings couple with flexibility. Is my analysis correct? |
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Apr 3 2015, 08:41 AM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(IceQTurbo @ Apr 3 2015, 08:31 AM) guys, I have been thinking about SSPN. Hope someone can shed some light on this. Is SSPN really a good medium to save money? Let's say I save RM6k this year, and get the max deduction of 26%, I can get RM1,560 refund. Subsequently, this 6k might entitle to a dividend of say 3-4% every year? I can't withdraw this money until my children are being offered a place in tertiary education (no flexibility). what if I can save the same amount of money in another investment, which generate more than 5% every year, in the end I will have both higher savings couple with flexibility. Is my analysis correct? can tell us what can give > 5% and no investment risk?if can get of course..you are right in the long term I made a quick google and found this...this is just an example...more in google Does it worth to put saving in Skim Simpanan Pendidikan Nasional (SSPN-i)? http://voyager8.blogspot.com/2013/12/does-...ng-in-skim.html |
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Apr 3 2015, 08:42 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(IceQTurbo @ Apr 3 2015, 08:31 AM) guys, I have been thinking about SSPN. Hope someone can shed some light on this. Is SSPN really a good medium to save money? The other instrument you can consider is PRS which offers tax deduction also... please ask in the Income Tax threadLet's say I save RM6k this year, and get the max deduction of 26%, I can get RM1,560 refund. Subsequently, this 6k might entitle to a dividend of say 3-4% every year? I can't withdraw this money until my children are being offered a place in tertiary education (no flexibility). what if I can save the same amount of money in another investment, which generate more than 5% every year, in the end I will have both higher savings couple with flexibility. Is my analysis correct? |
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Apr 3 2015, 09:06 AM
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Junior Member
253 posts Joined: May 2007
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QUOTE(yklooi @ Apr 3 2015, 08:41 AM) can tell us what can give > 5% and no investment risk?if can get of course..you are right in the long term I made a quick google and found this...this is just an example...more in google Does it worth to put saving in Skim Simpanan Pendidikan Nasional (SSPN-i)? http://voyager8.blogspot.com/2013/12/does-...ng-in-skim.html I don't think there is any investment which has no risk.. it's either low, medium or high risk. Even saving in SSPN has its own risk, I don't think our money is guaranteed, right? what if one day PTPTN declare bankruptcy as many defaulters.. there goes our money.. Some investments which I can think of... shares with more than 5% dividend yield (probably REIT?), unit trust (like ASW, ASB...)... |
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Apr 3 2015, 10:30 AM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(IceQTurbo @ Apr 3 2015, 09:06 AM) Firstly, don't get me wrong of rejecting SSPN, I myself also invest in SSPN. I'm just thinking whether this is the best option with my limited funds. YES,...there are BETTER option* out there if the saving /investing horizon is longer.I don't think there is any investment which has no risk.. it's either low, medium or high risk. Even saving in SSPN has its own risk, I don't think our money is guaranteed, right? what if one day PTPTN declare bankruptcy as many defaulters.. there goes our money.. Some investments which I can think of... shares with more than 5% dividend yield (probably REIT?), unit trust (like ASW, ASB...)... PLUS having the withdrawal flexibility.... * if one know what to do and have the risk appetite for it. IF PTPTN declare bankrupt? .....  no need to pay them back.....  This post has been edited by yklooi: Apr 3 2015, 10:41 AM |
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Apr 3 2015, 12:53 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(IceQTurbo @ Apr 3 2015, 09:06 AM) Firstly, don't get me wrong of rejecting SSPN, I myself also invest in SSPN. I'm just thinking whether this is the best option with my limited funds. If U really want to "optimize" & assuming tax rate is >=20%+ in future, i'd suggest:I don't think there is any investment which has no risk.. it's either low, medium or high risk. Even saving in SSPN has its own risk, I don't think our money is guaranteed, right? what if one day PTPTN declare bankruptcy as many defaulters.. there goes our money.. Some investments which I can think of... shares with more than 5% dividend yield (probably REIT?), unit trust (like ASW, ASB...)... 1. Put in a sum NOW, just to open a SSPN A/C for yr child a. For easier education borrowing and stuff if needed b. For easier execution of further steps 2. 2 to 3 years BEFORE your child goes for Uni, put in MAX into SSPN (allowable for tax relief). a. no investments can GUARANTEE U >10%+pa. The tax relief +interest %pa, even if calculated over 3 years, is like >10%pa Most mutual funds or stocks' long term average is 7%pa-10%pa Thus, why not? With very little risks other than PTPTN kaput Thus, between (1.) and (2.), please channel your cash to planned dollar cost, OR better yet, value cost averaging, investment programs and buy good companies' stocks at value. Reason? Given say 16-17 years (assuming lar child is 0-2 years old), the tax relief + 3% to 4%pa, doesn't match the average long term returns of equities. Just a thought - no right/wrong |
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Apr 3 2015, 06:32 PM
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Senior Member
2,881 posts Joined: Oct 2006 From: Kota Kinabalu, Sabah.
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My friend told me the tax relief is till 2017 only...really?
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Apr 3 2015, 06:40 PM
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Junior Member
242 posts Joined: Jan 2014
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QUOTE(tenchi0205 @ Apr 3 2015, 06:32 PM) My friend told me the tax relief is till 2017 only...really? After that should revert back to RM3000 tax relief as was before |
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Apr 3 2015, 06:41 PM
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Junior Member
376 posts Joined: Dec 2013
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see item no. 11 = "Net saving in SSPN's scheme (with effect from year assessment 2012 until year assessment 2017)" - RM6,000
source = http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1 2014 dividend rate is 4.25% = "KHAMIS, 2 APRIL 2015 @ 11:58 AM Dividen SSPN-i tahun lalu, 4.25 peratus KUALA LUMPUR: Menteri Pendidikan II, Datuk Seri Idris Jusoh mengumumkan kadar dividen Skim Simpanan Pendidikan Nasional (SSPN-i) bagi tahun 2014 sebanyak 4.25 peratus." source = http://www.bharian.com.my/node/44876 |
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Apr 3 2015, 06:47 PM
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Junior Member
242 posts Joined: Jan 2014
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QUOTE(giko @ Apr 3 2015, 06:41 PM) see item no. 11 = "Net saving in SSPN's scheme (with effect from year assessment 2012 until year assessment 2017)" - RM6,000 Nice.. any idea when they will credit the account ?source = http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1 2014 dividend rate is 4.25% = "KHAMIS, 2 APRIL 2015 @ 11:58 AM Dividen SSPN-i tahun lalu, 4.25 peratus KUALA LUMPUR: Menteri Pendidikan II, Datuk Seri Idris Jusoh mengumumkan kadar dividen Skim Simpanan Pendidikan Nasional (SSPN-i) bagi tahun 2014 sebanyak 4.25 peratus." source = http://www.bharian.com.my/node/44876 |
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Apr 3 2015, 09:47 PM
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Senior Member
2,881 posts Joined: Oct 2006 From: Kota Kinabalu, Sabah.
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QUOTE(giko @ Apr 3 2015, 06:41 PM) see item no. 11 = "Net saving in SSPN's scheme (with effect from year assessment 2012 until year assessment 2017)" - RM6,000 meaning really after 2017 no more tax rebet?source = http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1 2014 dividend rate is 4.25% = "KHAMIS, 2 APRIL 2015 @ 11:58 AM Dividen SSPN-i tahun lalu, 4.25 peratus KUALA LUMPUR: Menteri Pendidikan II, Datuk Seri Idris Jusoh mengumumkan kadar dividen Skim Simpanan Pendidikan Nasional (SSPN-i) bagi tahun 2014 sebanyak 4.25 peratus." source = http://www.bharian.com.my/node/44876 |
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Apr 3 2015, 10:31 PM
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Junior Member
376 posts Joined: Dec 2013
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QUOTE(tenchi0205 @ Apr 3 2015, 09:47 PM) meaning really after 2017 no more tax rebet? yes, unless gahmen decides to extend it... |
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Apr 6 2015, 11:30 AM
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Junior Member
46 posts Joined: Dec 2009
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QUOTE(giko @ Apr 3 2015, 10:31 PM) yes, unless gahmen decides to extend it... wait for Budget 2017 which will table in Oct 2016, but hopefully this year Budget announce the extension beyond 2017 |
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Apr 6 2015, 12:50 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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After Year Assessment 2017, it change to RM3000 or change to RM0 Tax relief for SSPN ?
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Apr 6 2015, 01:44 PM
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Senior Member
4,436 posts Joined: Oct 2008
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1) Let's say I deposit RM 5,755.00 on 1/1/2014.
2) 2014 Dividend @ 4.25% p.a.= RM 5,755.00 x 1.0425 = RM 6,000.00 3) My tax relief is RM 5,775.00 or RM 6,000.00 for YA2014? Thank you for you attention. Xuzen |
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Apr 6 2015, 02:49 PM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(xuzen @ Apr 6 2015, 01:44 PM) 1) Let's say I deposit RM 5,755.00 on 1/1/2014. there are some past posting that looks similar to what you asked.2) 2014 Dividend @ 4.25% p.a.= RM 5,755.00 x 1.0425 = RM 6,000.00 3) My tax relief is RM 5,775.00 or RM 6,000.00 for YA2014? Thank you for you attention. Xuzen check page 12, post 231, 232 and few done the page page 13, post 247 |
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Apr 6 2015, 02:53 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(xuzen @ Apr 6 2015, 01:44 PM) 1) Let's say I deposit RM 5,755.00 on 1/1/2014. Dividend for Y2014 is paid in Y2015... so you ONLY get to claim Tax Relief on RM5755 (+ dividends from Y2013).2) 2014 Dividend @ 4.25% p.a.= RM 5,755.00 x 1.0425 = RM 6,000.00 3) My tax relief is RM 5,775.00 or RM 6,000.00 for YA2014? Thank you for you attention. Xuzen Best to download the Penyata Hasil from SSPN website as proof of Tax Relief. |
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Apr 6 2015, 03:08 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(ronnie @ Apr 6 2015, 02:53 PM) Dividend for Y2014 is paid in Y2015... so you ONLY get to claim Tax Relief on RM5755 (+ dividends from Y2013). Thank you for spotting that "trick" question. |
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Apr 6 2015, 03:11 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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The Dividend for Y2014 is on the Penyata Kira-Kira.
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Apr 6 2015, 03:40 PM
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Senior Member
4,436 posts Joined: Oct 2008
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Assume deposited RM 140,000 get RM 6,000.00 dividend on top of that get RM1,560.00 tax relief, total = RM 7560.00 = 5.4%.
OK lar... so so nia. Just like FD. Xuzen |
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Apr 6 2015, 03:47 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(xuzen @ Apr 6 2015, 03:40 PM) Assume deposited RM 140,000 get RM 6,000.00 dividend on top of that get RM1,560.00 tax relief, total = RM 7560.00 = 5.4%. OK lar... so so nia. Just like FD. Xuzen then if after 2017, no more tax relief......deposited money has withdrawal restriction....... |
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Apr 8 2015, 09:35 PM
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Junior Member
13 posts Joined: Apr 2015
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QUOTE(T231H @ Apr 6 2015, 03:47 PM) then if after 2017, no more tax relief......deposited money has withdrawal restriction....... |
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Apr 8 2015, 09:35 PM
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Junior Member
13 posts Joined: Apr 2015
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QUOTE(T231H @ Apr 6 2015, 03:47 PM) then if after 2017, no more tax relief......deposited money has withdrawal restriction....... Attached thumbnail(s) 
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Apr 8 2015, 09:36 PM
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Junior Member
13 posts Joined: Apr 2015
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QUOTE(ptptn_assistant @ Apr 8 2015, 09:35 PM) Attached image(s)  |
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Apr 9 2015, 09:36 AM
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Junior Member
13 posts Joined: Apr 2015
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QUOTE(ptptn_assistant @ Apr 8 2015, 09:36 PM) Attached thumbnail(s) 
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Apr 21 2015, 02:06 PM
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Junior Member
13 posts Joined: Apr 2015
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QUOTE(ptptn_assistant @ Apr 9 2015, 09:36 AM) Attached thumbnail(s) 
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Apr 21 2015, 02:28 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(ptptn_assistant @ Apr 21 2015, 03:06 PM) tax relief.. |
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Apr 25 2015, 11:33 AM
Show posts by this member only | IPv6 | Post
#303
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Senior Member
10,001 posts Joined: May 2013
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2 promotion by SSPN-i now:-
a. Simpanan Vaganza from 1/5 to 31/10/15 b. Simpan & Menang from 1/4 to 30/9/15 |
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Jun 8 2015, 08:05 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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SSPN-i Plus aims to encourage education savings plan
QUOTE SSPN-i Plus have packages going for as low as RM50 a month The scheme launched today offers a tax break of up to RM12,000 a year based on Shariah principles as part of its incentives http://www.thesundaily.my/news/1452340 |
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Jun 9 2015, 02:21 PM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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does that mean we get tax relief if we put in 12k into sspn now compared to 6k previously?
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Jun 9 2015, 03:37 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(kochin @ Jun 9 2015, 02:21 PM) does that mean we get tax relief if we put in 12k into sspn now compared to 6k previously? i got this question in my mind too.i surfed their website...looks likely Father open a/c for son...can contribute RM 6k Mother open a/c for same son...can contribute RM 6k thus total RM 12k Q: 4 and Q: 6 http://www.ptptn.gov.my/web/english/insent...ih-dalam-sspn-i |
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Jun 9 2015, 04:05 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(T231H @ Jun 9 2015, 03:37 PM) i got this question in my mind too.i surfed their website...looks likely Father open a/c for son...can contribute RM 6k Mother open a/c for same son...can contribute RM 6k thus total RM 12k Q: 4 and Q: 6 http://www.ptptn.gov.my/web/english/insent...ih-dalam-sspn-i |
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Jun 9 2015, 04:09 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(wil-i-am @ Jun 9 2015, 04:05 PM) 1st 6k is for savings n 2nd 6k is for takaful premium got any links where i can get more info on that?need to check the benefits for this extra 6K... |
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Jun 9 2015, 04:10 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(wil-i-am @ Jun 9 2015, 04:05 PM) 1st 6k is for savings n 2nd 6k is for takaful premium I think it will eat into the existing RM3000 tax relief for "Insurance premium for education or medical benefit".... Which is totally "no good" |
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Jun 9 2015, 04:11 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(T231H @ Jun 9 2015, 04:09 PM) got any links where i can get more info on that? Click tis http://translate.google.com/translate?hl=e...us1&prev=searchneed to check the benefits for this extra 6K... This post has been edited by wil-i-am: Jun 9 2015, 04:13 PM |
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Jun 9 2015, 04:17 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(wil-i-am @ Jun 9 2015, 04:11 PM) thanks... |
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Jun 9 2015, 06:03 PM
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Senior Member
5,867 posts Joined: Feb 2006
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QUOTE(kochin @ Jun 9 2015, 02:21 PM) does that mean we get tax relief if we put in 12k into sspn now compared to 6k previously? QUOTE(T231H @ Jun 9 2015, 03:37 PM) i got this question in my mind too.i surfed their website...looks likely Father open a/c for son...can contribute RM 6k Mother open a/c for same son...can contribute RM 6k thus total RM 12k Q: 4 and Q: 6 http://www.ptptn.gov.my/web/english/insent...ih-dalam-sspn-i |
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Jun 9 2015, 06:21 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(aeiou228 @ Jun 9 2015, 06:03 PM) The 6k tax relief is based on yearly INCREMENTAL balance. Meaning Last year you deposited 6K, you will get tax relief for 6K for 2014 assessment. This year your SSPN account balance must have a NET increase of 6K (Balance is now RM12K)in order to entitle to another 6K relief for 2015 income tax assessment. I think "Kochin" asked if the tax relief is now RM 12k per year instead of RM 6k previously.... |
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Jun 9 2015, 08:44 PM
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Senior Member
5,867 posts Joined: Feb 2006
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QUOTE(T231H @ Jun 9 2015, 06:21 PM) I think "Kochin" asked if the tax relief is now RM 12k per year instead of RM 6k previously.... |
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Jun 9 2015, 08:53 PM
Show posts by this member only | IPv6 | Post
#315
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(aeiou228 @ Jun 9 2015, 08:44 PM) I never heard of 12k tax relief and I just made some deposit last 2 weeks and was told still 6k. But what I do know is I gotten 4 golf umbrellas, 1 backpack, and some other free gifts la. Bro, which Bank u top up as I didn't get anything when top up last Dec 14? |
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Jun 9 2015, 09:08 PM
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Senior Member
5,143 posts Joined: Jan 2015
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got this from the web...
Soalan 22 : SSPN-i Plus dan SSPN-i masing-masing menawarkan pelepasan taksiran cukai pendapatan ke atas simpanan bersih tahun semasa sehingga RM6,000 bagi akaun yang dibuka untuk anak/ anak jagaan yang sah. Jika pendeposit mempunyai kedua-dua akaun, adakah pelepasan taksiran cukai pendapatan yang boleh dinikmati adalah sebanyak RM12,000? Jawapan : Tidak. Pelepasan taksiran cukai pendapatan ke atas simpanan bersih bagi SSPN-i Plus dan SSPN-i hanya diberikan sehingga RM6,000. Walau bagaimanapun bagi akaun SSPN-i Plus, pendeposit boleh menikmati tambahan pelepasan taksiran cukai pendapatan ke atas sumbangan takaful yang dibayar kepada pengendali takaful sebanyak RM6,000, di bawah kategori pelepasan bagi insurans nyawa dan KWSP http://www.ptptn.gov.my/web/guest/pelepasa...ukai-pendapatan "di bawah kategori pelepasan bagi insurans nyawa dan KWSP".....not very attractive bcos some had already maxed their EPF at RM6k This post has been edited by T231H: Jun 9 2015, 09:22 PM |
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Jun 9 2015, 09:22 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(aeiou228 @ Jun 9 2015, 09:44 PM) I never heard of 12k tax relief and I just made some deposit last 2 weeks and was told still 6k. But what I do know is I gotten 4 golf umbrellas, 1 backpack, and some other free gifts la. |
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Jun 10 2015, 08:26 AM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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QUOTE(aeiou228 @ Jun 9 2015, 08:44 PM) I never heard of 12k tax relief and I just made some deposit last 2 weeks and was told still 6k. But what I do know is I gotten 4 golf umbrellas, 1 backpack, and some other free gifts la. where can i get the same please?thanks. and yes, was asking whether the 6k have been increased to 12k indeed? looks like it is still 6k. last year rate was 4.25%. not great but not too bad lah. |
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Jun 10 2015, 08:43 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(T231H @ Jun 9 2015, 09:08 PM) got this from the web... So the RM12k is very confusing to those earning >RM4545 a month, who would have already maxed their EPF Tax ReliefSoalan 22 : SSPN-i Plus dan SSPN-i masing-masing menawarkan pelepasan taksiran cukai pendapatan ke atas simpanan bersih tahun semasa sehingga RM6,000 bagi akaun yang dibuka untuk anak/ anak jagaan yang sah. Jika pendeposit mempunyai kedua-dua akaun, adakah pelepasan taksiran cukai pendapatan yang boleh dinikmati adalah sebanyak RM12,000? Jawapan : Tidak. Pelepasan taksiran cukai pendapatan ke atas simpanan bersih bagi SSPN-i Plus dan SSPN-i hanya diberikan sehingga RM6,000. Walau bagaimanapun bagi akaun SSPN-i Plus, pendeposit boleh menikmati tambahan pelepasan taksiran cukai pendapatan ke atas sumbangan takaful yang dibayar kepada pengendali takaful sebanyak RM6,000, di bawah kategori pelepasan bagi insurans nyawa dan KWSP http://www.ptptn.gov.my/web/guest/pelepasa...ukai-pendapatan |
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Jun 10 2015, 09:32 AM
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Senior Member
5,867 posts Joined: Feb 2006
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QUOTE(wil-i-am @ Jun 9 2015, 08:53 PM) Bro, which Bank u top up as I didn't get anything when top up last Dec 14? QUOTE(kochin @ Jun 10 2015, 08:26 AM) where can i get the same please? New PTPTN branch opening promo at Giant Kinrara. Not sure the gifts still available or not.thanks. and yes, was asking whether the 6k have been increased to 12k indeed? looks like it is still 6k. last year rate was 4.25%. not great but not too bad lah. I think 4.25% is top rate compare to highest FD rate offered by Affin bank 4.33%. Additional advantages of SSPN over bank FD are flexibility of fund withdrawal without penalty and most important of all, semua simpanan dijamin oleh kerajaan Malaysia. |
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Jun 26 2015, 07:47 AM
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Junior Member
29 posts Joined: May 2015
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Hi, SSPN newbie here. Would be grateful if someone can help to clarify how is the interest for SSPN calculated? Is it based on daily/monthly rest? Wondering whether there is any difference between putting in small amounts of money monthly vs one lump sum at the end of the year. When is the interest for SSPN given out? |
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Jun 26 2015, 09:18 AM
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Senior Member
5,750 posts Joined: Jan 2012
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QUOTE(joshng @ Jun 26 2015, 07:47 AM) Hi, SSPN newbie here. Would be grateful if someone can help to clarify how is the interest for SSPN calculated? Is it based on daily/monthly rest? Wondering whether there is any difference between putting in small amounts of money monthly vs one lump sum at the end of the year. When is the interest for SSPN given out? It's work like FD I suppose. Being reluctant to bank in because very difficult to withdraw. That was few years back. Now I am not sure. |
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Jun 26 2015, 09:35 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Ancient-XinG- @ Jun 26 2015, 09:18 AM) It's work like FD I suppose. Being reluctant to bank in because very difficult to withdraw. That was few years back. Now I am not sure. Withdrawal is ez now |
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Jun 28 2015, 01:15 PM
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Junior Member
81 posts Joined: Feb 2015
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Dear all
I am quite puzzled with the interest rate (dividend) announced for 2014. It was announced to be 4.25%, but when I checked back the latest statement, I am only getting something like 1.68% for the amount I have deposited until 31 Dec 2014. How about your dividends? Thanks in advance for any input. |
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Jun 28 2015, 01:41 PM
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All Stars
14,854 posts Joined: Mar 2015
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QUOTE(bios123 @ Jun 28 2015, 01:15 PM) Dear all I am quite puzzled with the interest rate (dividend) announced for 2014. It was announced to be 4.25%, but when I checked back the latest statement, I am only getting something like 1.68% for the amount I have deposited until 31 Dec 2014. How about your dividends? Thanks in advance for any input. while waiting for responses, it would be best if you could provide some added info, like...what is your a/c balance as at end 2013? what is the dividend rate for 2013? how much did you top up in 2014? when did you top it up in 2014? |
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Jun 28 2015, 02:27 PM
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Junior Member
81 posts Joined: Feb 2015
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Dear Mum
Baki Awal 1 Jan 2014 RM1550 Baki AKhir 31 Dis 2014 RM 4500 Dividen 1 Jan 2015 RM 83.76 I made the deposit regularly from time to time. Hence the dividend is something like 83.76/4500= 1.86% Correct? Please correct me if I am wrong. Thanks again. |
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Jun 28 2015, 02:37 PM
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All Stars
14,854 posts Joined: Mar 2015
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QUOTE(bios123 @ Jun 28 2015, 02:27 PM) Dear Mum Baki Awal 1 Jan 2014 RM1550 Baki AKhir 31 Dis 2014 RM 4500 Dividen 1 Jan 2015 RM 83.76 I made the deposit regularly from time to time. Hence the dividend is something like 83.76/4500= 1.86% Correct? Please correct me if I am wrong. Thanks again. when did you put in the 3000?you mean regularly...250 x10 monthly? have try pro rated calculation? |
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Jun 28 2015, 03:43 PM
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Junior Member
81 posts Joined: Feb 2015
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QUOTE(MUM @ Jun 28 2015, 02:37 PM) when did you put in the 3000?you mean regularly...250 x10 monthly? have try pro rated calculation? I thought it is the annual contribution that matters, regardless of it being 250x12, or 3000x1 or 300x10.... again I may be totally wrong please correct me and I apologize deeply for my ignorance. |
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Jun 28 2015, 03:49 PM
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All Stars
14,854 posts Joined: Mar 2015
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QUOTE(bios123 @ Jun 28 2015, 03:43 PM) is this going to make a difference? I thought it is the annual contribution that matters, regardless of it being 250x12, or 3000x1 or 300x10.... again I may be totally wrong please correct me and I apologize deeply for my ignorance. Baki Awal 1 Jan 2014 RM1550 Baki AKhir 31 Dis 2014 RM 4500 Dividen 1 Jan 2015 RM 83.76 Assuming you put in RM 3000 on 31 Dec 2014 RM 1550 x 4.25% = RM 65.87 RM 83.76 - RM 65.87 = RM 17.89 will the RM 3000 placed on 31 Dec 2014 earn RM 17.89 interest from 2014? just a thought....... |
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Jun 28 2015, 04:48 PM
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Junior Member
81 posts Joined: Feb 2015
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QUOTE(MUM @ Jun 28 2015, 03:49 PM) Baki Awal 1 Jan 2014 RM1550 Baki AKhir 31 Dis 2014 RM 4500 Dividen 1 Jan 2015 RM 83.76 Assuming you put in RM 3000 on 31 Dec 2014 RM 1550 x 4.25% = RM 65.87 RM 83.76 - RM 65.87 = RM 17.89 will the RM 3000 placed on 31 Dec 2014 earn RM 17.89 interest from 2014? just a thought....... if this is the case, the dividend is even less than 1%? |
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Jun 28 2015, 05:22 PM
Show posts by this member only | IPv6 | Post
#331
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(bios123 @ Jun 28 2015, 04:48 PM) I see... Dividend is based on pro-rata basisif this is the case, the dividend is even less than 1%? |
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Jun 28 2015, 05:23 PM
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All Stars
14,854 posts Joined: Mar 2015
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QUOTE(bios123 @ Jun 28 2015, 04:48 PM) I see... I have no idea....bcos there is still the unknown of when and how the RM 3000 was placed in year 2014.....if this is the case, the dividend is even less than 1%? This post has been edited by MUM: Jun 28 2015, 05:33 PM |
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Jun 28 2015, 07:38 PM
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Junior Member
81 posts Joined: Feb 2015
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Dear Wil-i-am
Dear Mum Thanks for the inputs I think I got the idea already... thanks again. |
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Oct 6 2015, 11:42 AM
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Junior Member
295 posts Joined: Jun 2006 From: JB
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QUOTE(wil-i-am @ Jun 26 2015, 09:35 AM) Withdrawal is ez now I read on the PTPTN website that to withdraw you need to attach a death certificate of the depositor. so means depositor need to be deceased first in order to withdraw??Can I deposit into the account today and then take everything out again in a month's time or will there be any penalties? Need to go to PTPTN HQ to withdraw or can withdraw online? |
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Oct 6 2015, 01:15 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(homicidal85 @ Oct 6 2015, 11:42 AM) I read on the PTPTN website that to withdraw you need to attach a death certificate of the depositor. so means depositor need to be deceased first in order to withdraw?? U can withdraw anytime at OTCCan I deposit into the account today and then take everything out again in a month's time or will there be any penalties? Need to go to PTPTN HQ to withdraw or can withdraw online? For details, refer to counter service |
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Oct 30 2015, 11:25 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(wil-i-am @ Oct 6 2015, 01:15 PM) U can withdraw anytime at OTC Just open the SSPN-i account for my daughter from RHB. For details, refer to counter service So when only I can register for their online account at SSPN? Please advise. Thank you. EDIT: Tried but unable to register. This post has been edited by rapple: Oct 30 2015, 03:16 PM |
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Oct 30 2015, 10:03 PM
Show posts by this member only | IPv6 | Post
#337
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(rapple @ Oct 30 2015, 11:25 AM) Just open the SSPN-i account for my daughter from RHB. If I can recall, u can register immediatelySo when only I can register for their online account at SSPN? Please advise. Thank you. EDIT: Tried but unable to register. |
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Oct 30 2015, 10:06 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(wil-i-am @ Oct 30 2015, 10:03 PM) If I can recall, u can register immediately Not sure why can't register. You open your account from banks also? Email them this noon, hopefully can get a reply on Monday. |
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Oct 30 2015, 10:08 PM
Show posts by this member only | IPv6 | Post
#339
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(rapple @ Oct 30 2015, 10:06 PM) Not sure why can't register. I open for my kids @ PTPTN ofizYou open your account from banks also? Email them this noon, hopefully can get a reply on Monday. |
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Nov 1 2015, 08:35 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(rapple @ Oct 30 2015, 11:25 AM) Just open the SSPN-i account for my daughter from RHB. By next week you should be able to register alreadySo when only I can register for their online account at SSPN? Please advise. Thank you. EDIT: Tried but unable to register. |
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Nov 1 2015, 12:31 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(Kaka23 @ Nov 1 2015, 08:35 AM) By next week you should be able to register already nice |
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Nov 2 2015, 10:05 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(Kaka23 @ Nov 1 2015, 08:35 AM) By next week you should be able to register already Thanks. I'm able to register but the link they send to my email, is not working.And I can't login as well. |
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Nov 2 2015, 10:30 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(rapple @ Nov 2 2015, 10:05 AM) Thanks. I'm able to register but the link they send to my email, is not working. https://epay.ptptn.gov.my/saving/sspnlogin.htmlAnd I can't login as well. I log in with the link above. It is ok for me... |
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Nov 2 2015, 11:07 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(Kaka23 @ Nov 2 2015, 10:30 AM) Thanks. I wonder how long it takes to show my payment from M2U to SSPN-i account? |
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Nov 2 2015, 12:15 PM
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Senior Member
558 posts Joined: Jan 2003 From: HELL
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QUOTE(rapple @ Nov 2 2015, 11:07 AM) Thanks. Read the most right column of this table here.I wonder how long it takes to show my payment from M2U to SSPN-i account? |
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Nov 2 2015, 08:14 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(rapple @ Nov 2 2015, 11:07 AM) Thanks. cant remember! I wonder how long it takes to show my payment from M2U to SSPN-i account? |
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Nov 2 2015, 08:38 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(Kaka23 @ Nov 2 2015, 08:14 PM) cant remember! Payment made on 30th- Today got email from sspn saying thank you. And statement also shown. |
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Nov 2 2015, 08:44 PM
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All Stars
24,329 posts Joined: Feb 2011
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What's the effective rates?
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Nov 2 2015, 09:11 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(rapple @ Nov 2 2015, 08:38 PM) Payment made on 30th- Today got email from sspn saying thank you. And statement also shown. |
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Nov 2 2015, 09:12 PM
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All Stars
24,329 posts Joined: Feb 2011
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What's the effective rates?
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Nov 2 2015, 10:40 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Ramjade @ Nov 2 2015, 09:12 PM) What's the effective rates? They declared 4.25% for the past 3 years |
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Nov 3 2015, 11:08 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(Kaka23 @ Nov 2 2015, 09:11 PM) |
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Nov 3 2015, 11:53 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(rapple @ Nov 3 2015, 11:08 AM) Question: How to do withdrawal? From banks? or need go PTPTN office? You can do it from banks |
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Nov 3 2015, 12:30 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Nov 3 2015, 11:53 AM) You can do it from banks withdraw wor.. bank can ka? |
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Nov 3 2015, 12:52 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Nov 3 2015, 12:30 PM) withdraw wor.. bank can ka? Cannot withdraw partial?!?? |
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Nov 3 2015, 12:53 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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Depositors can obtain withdrawal application forms from all SSPN agents. Completed forms must be sent directly to the PTPTN office together with the necessary documents. In addition, depositors can request withdrawal directly at the PTPTN office (by producing the required documents and completed form).
Withdrawal of savings can only be done after one (1) year of saving in the SSPN. The withdrawal of 10% of the balance in the account or RM500 (whichever is lower) once annually is allowed (after one year of becoming member). Withdrawal of up to 100% of the balance of the account is allowed if the beneficiaryfulfils one of the following criteria: 1. Is accepted to any government recognised IPT; 2. Withdraws voluntarily from the education system or is terminated for specific reasons; 3. Chronic illness with no hope of recovery with doctor’s certification; 4. Permanent disability; or 5. Death |
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Nov 3 2015, 01:00 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(nexona88 @ Nov 3 2015, 12:53 PM) Depositors can obtain withdrawal application forms from all SSPN agents. Completed forms must be sent directly to the PTPTN office together with the necessary documents. In addition, depositors can request withdrawal directly at the PTPTN office (by producing the required documents and completed form). You sure?Withdrawal of savings can only be done after one (1) year of saving in the SSPN. The withdrawal of 10% of the balance in the account or RM500 (whichever is lower) once annually is allowed (after one year of becoming member). Withdrawal of up to 100% of the balance of the account is allowed if the beneficiaryfulfils one of the following criteria: 1. Is accepted to any government recognised IPT; 2. Withdraws voluntarily from the education system or is terminated for specific reasons; 3. Chronic illness with no hope of recovery with doctor’s certification; 4. Permanent disability; or 5. Death Is not stated on their website. And their reply was:- 
EDIT: T&C will change from time to time. At this moment, we are allowed to withdraw anytime, right? This post has been edited by rapple: Nov 3 2015, 01:01 PM |
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Nov 3 2015, 01:04 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Nov 3 2015, 12:52 PM) Cannot withdraw partial?!?? bro - U said can withdraw SSPN from banki asked sure ka withdraw from bank? now U ask me back cannot withdraw partial? er.. English and i'm seriously confused?? This post has been edited by wongmunkeong: Nov 3 2015, 01:13 PM |
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Nov 3 2015, 01:18 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(rapple @ Nov 3 2015, 01:00 PM) You sure? the info I posted is from blog. Is not stated on their website. And their reply was:-
EDIT: T&C will change from time to time. At this moment, we are allowed to withdraw anytime, right? I try to access PTPTN website, but seems cannot load I guess now can wihdraw anytime |
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Nov 3 2015, 01:40 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(rapple @ Nov 3 2015, 11:08 AM) Question: How to do withdrawal? From banks? or need go PTPTN office? Y u want to withdraw so early as u can obtain tax relief, if qualify by year end |
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Nov 3 2015, 01:45 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(wil-i-am @ Nov 3 2015, 01:40 PM) Y u want to withdraw so early as u can obtain tax relief, if qualify by year end I'm very sure i'll qualify for the tax relief as my daughter just 6 months old.I'm not going to withdraw now. I'll wait after 31st Dec then I'll withdraw everything and leave some $$ in it. |
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Nov 3 2015, 01:48 PM
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All Stars
24,329 posts Joined: Feb 2011
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QUOTE(wil-i-am @ Nov 3 2015, 01:40 PM) Y u want to withdraw so early as u can obtain tax relief, if qualify by year end How do you go about it? No need to hold for 1 year for tax-relief? |
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Nov 3 2015, 01:51 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(rapple @ Nov 3 2015, 01:45 PM) I'm very sure i'll qualify for the tax relief as my daughter just 6 months old. As to your question, u can withdraw at PTPTN ofiz as my fren done tat b4I'm not going to withdraw now. I'll wait after 31st Dec then I'll withdraw everything and leave some $$ in it. |
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Nov 3 2015, 01:54 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Ramjade @ Nov 3 2015, 01:48 PM) How do you go about it? No need to hold for 1 year for tax-relief? No need as long as u have net deposit sum of RM6k (max) as at 31st of each yr |
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Nov 3 2015, 01:54 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(wil-i-am @ Nov 3 2015, 01:51 PM) As to your question, u can withdraw at PTPTN ofiz as my fren done tat b4 Thanks. Anyway I'll go UTC and check out from them to see what they say on the withdrawal. |
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Nov 3 2015, 01:58 PM
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All Stars
24,329 posts Joined: Feb 2011
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QUOTE(wil-i-am @ Nov 3 2015, 01:54 PM) No need as long as u have net deposit sum of RM6k (max) as at 31st of each yr So you can dump in rm6k on 30th, then withdraw on 1/1 and then claim tax relief? |
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Nov 3 2015, 01:59 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Ramjade @ Nov 3 2015, 01:58 PM) So you can dump in rm6k on 30th, then withdraw on 1/1 and then claim tax relief? Yes |
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Nov 3 2015, 02:10 PM
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All Stars
24,329 posts Joined: Feb 2011
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QUOTE(wil-i-am @ Nov 3 2015, 01:59 PM) Yes What's the max one can withdraw?This post has been edited by Ramjade: Nov 3 2015, 02:10 PM |
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Nov 3 2015, 02:17 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Ramjade @ Nov 3 2015, 02:10 PM) What's the max one can withdraw? I suppose up to available bal |
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Nov 3 2015, 03:07 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(Kaka23 @ Nov 2 2015, 09:11 PM) From Nexona reply, seems cannot take out from banks. |
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Nov 3 2015, 03:08 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Nov 3 2015, 01:04 PM) bro - U said can withdraw SSPN from bank From Nexona reply, seems cannot take out from banks. i asked sure ka withdraw from bank? now U ask me back cannot withdraw partial? er.. English and i'm seriously confused?? |
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Nov 3 2015, 08:39 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Nov 3 2015, 03:08 PM) From Nexona reply, seems cannot take out from banks. er.. so far i read and know from calls/emails to PTPTN, i'll have to go to their PTPTN's branch/office, not banks.i'm trying to figure out why you mentioned "withdraw from banks"? good gawd.. another forumer posted he/she will go UTC... when did PTPTN's SSPN become a unit trust OR UTC is a place... i'm getting muddier AND muddier.. This post has been edited by wongmunkeong: Nov 3 2015, 08:43 PM |
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Nov 3 2015, 08:44 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(wongmunkeong @ Nov 3 2015, 08:39 PM) er.. so far i read and know from calls/emails to PTPTN, i'll have to go to their PTPTN's branch/office, not banks. lol UTC is one stop place for most gomen dept / agenciesi'm trying to figure out why you mentioned "withdraw from banks"? good gawd.. another forumer posted he/she will go UTC... when did PTPTN's SSPN become a unit trust OR UTC is a place... i'm getting muddier AND muddier.. https://en.wikipedia.org/wiki/Urban_Transformation_Centre got PTPTN, KWSP, JPN etc. This post has been edited by nexona88: Nov 3 2015, 08:47 PM |
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Nov 3 2015, 08:46 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Nov 3 2015, 08:39 PM) er.. so far i read and know from calls/emails to PTPTN, i'll have to go to their PTPTN's branch/office, not banks. i'm trying to figure out why you mentioned "withdraw from banks"? good gawd.. another forumer posted he/she will go UTC... when did PTPTN's SSPN become a unit trust OR UTC is a place... i'm getting muddier AND muddier.. I did not do enough research and tibai saja.. |
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Nov 3 2015, 09:18 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(nexona88 @ Nov 3 2015, 08:44 PM) lol UTC is one stop place for most gomen dept / agencies muah muah (no kiss icon wan) https://en.wikipedia.org/wiki/Urban_Transformation_Centre got PTPTN, KWSP, JPN etc. thanks Nexona88 for helping be achieve clarity on that 3 letter word heheh - Urban Transformation Centre.. gawd.. too many same abbreviations floating around + i baka locked-in to "investment jargons" only when see UTC |
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Nov 3 2015, 09:40 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(wongmunkeong @ Nov 3 2015, 09:18 PM) muah muah (no kiss icon wan) some hardcore people insist on using the malay term Pusat Transformasi Bandar (PTB) which I feel kinda weird when u pronounce it thanks Nexona88 for helping be achieve clarity on that 3 letter word heheh - Urban Transformation Centre.. gawd.. too many same abbreviations floating around + i baka locked-in to "investment jargons" only when see UTC |
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Nov 11 2015, 04:22 PM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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any free gifts or promo during their campaign?
if encounter mini mobile kiosk, how to do deposit? can use credit card? |
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Nov 11 2015, 04:33 PM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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btw, if the dividend generated and reinvest into the account is RM700.
means i only need to top up another RM5300 to maximise the tax relief, right? anybody can confirm? Attached File(s) 
sspn_savings.pdf ( 13.03k )
Number of downloads: 86 |
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Nov 11 2015, 05:06 PM
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Senior Member
5,867 posts Joined: Feb 2006
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QUOTE(kochin @ Nov 11 2015, 04:33 PM) btw, if the dividend generated and reinvest into the account is RM700. That's right. Your net incremental deposit in 2015. Balance as at 31 dec 2015 minus balance as at 31 dec 2014.means i only need to top up another RM5300 to maximise the tax relief, right? anybody can confirm? Some time in May, they gave golf umbrella, backpack, tabung and win a car contest for fresh deposit. Contest winners list http://www.ptptn.gov.my/docs/Simpanan-Bona...015%20final.pdf This post has been edited by aeiou228: Nov 11 2015, 05:21 PM |
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Nov 20 2015, 12:06 PM
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Senior Member
1,441 posts Joined: Oct 2006 From: *Gadgets world*
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guys, just checked my Sspn-i statement, rm6k deposited end 2013, no withdrawal and interest is RM42 as of 31/12/2014
and the statement shown , amount entitled for tax rebate for year 2014 is RM42 damn! Sekiranya pendeposit mempunyai baki akaun pada tahun sebelumnya sebanyak RM5,500.00 dan simpanan bersih tahun semasa sebanyak RM500.00, berapakah jumlah insentif pelepasan taksiran cukai yang layak bagi tahun taksiran cukai semasa? Jawapan : Pendeposit layak mendapat insentif pelepasan taksiran cukai untuk tahun taksiran semasa sebanyak RM500.00 sahaja. This post has been edited by bearbearhong: Nov 20 2015, 12:28 PM |
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Nov 20 2015, 12:57 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(bearbearhong @ Nov 20 2015, 12:06 PM) guys, just checked my Sspn-i statement, rm6k deposited end 2013, no withdrawal and interest is RM42Â as of 31/12/2014 The tax relief is clearly stated. and the statement shown , amount entitled for tax rebate for year 2014 is RM42Â Â Â damn! Sekiranya pendeposit mempunyai baki akaun pada tahun sebelumnya sebanyak RM5,500.00 dan simpanan bersih tahun semasa sebanyak RM500.00, berapakah jumlah insentif pelepasan taksiran cukai yang layak bagi tahun taksiran cukai semasa? Jawapan : Pendeposit layak mendapat insentif pelepasan taksiran cukai untuk tahun taksiran semasa sebanyak RM500.00 sahaja. EDIT: I think the RM42 is for your 2013. And interest in 2014 is shown in your 2015 statement. This post has been edited by rapple: Nov 20 2015, 01:02 PM |
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Nov 20 2015, 04:50 PM
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Senior Member
1,441 posts Joined: Oct 2006 From: *Gadgets world*
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QUOTE(rapple @ Nov 20 2015, 12:57 PM) The tax relief is clearly stated. thanks Bro, i just came to know after almost two years deposited into sspn EDIT: I think the RM42 is for your 2013. And interest in 2014 is shown in your 2015 statement. i called sspn and they said withdrawal of any amount is permitted but need time to process, it is true? |
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Nov 20 2015, 04:56 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(bearbearhong @ Nov 20 2015, 04:50 PM) thanks Bro, i just came to know after almost two years deposited into sspn I haven't make any withdrawal yet as this is the first year. i called sspn and they said withdrawal of any amount is permitted but need time to process, it is true? Not too sure how long it takes, but i remember i saw it somewhere say max. 14 working days. |
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Nov 20 2015, 05:48 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(bearbearhong @ Nov 20 2015, 12:06 PM) guys, just checked my Sspn-i statement, rm6k deposited end 2013, no withdrawal and interest is RM42 as of 31/12/2014 haha... I want to go check mine as well! and the statement shown , amount entitled for tax rebate for year 2014 is RM42 damn! Sekiranya pendeposit mempunyai baki akaun pada tahun sebelumnya sebanyak RM5,500.00 dan simpanan bersih tahun semasa sebanyak RM500.00, berapakah jumlah insentif pelepasan taksiran cukai yang layak bagi tahun taksiran cukai semasa? Jawapan : Pendeposit layak mendapat insentif pelepasan taksiran cukai untuk tahun taksiran semasa sebanyak RM500.00 sahaja. |
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Nov 20 2015, 10:34 PM
Show posts by this member only | IPv6 | Post
#385
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(rapple @ Nov 20 2015, 04:56 PM) I haven't make any withdrawal yet as this is the first year. U r riteNot too sure how long it takes, but i remember i saw it somewhere say max. 14 working days. Plus they will credit the proceeds into yo bank a/c |
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Nov 20 2015, 10:37 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wil-i-am @ Nov 20 2015, 10:34 PM) U r rite Bro... you withdraw before?Plus they will credit the proceeds into yo bank a/c |
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Nov 20 2015, 10:46 PM
Show posts by this member only | IPv6 | Post
#387
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Nov 20 2015, 10:37 PM) Bro... you withdraw before? Nope, my fren done b4 |
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Nov 20 2015, 10:54 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wil-i-am @ Nov 20 2015, 10:46 PM) Nope, my fren done b4 Oh.. he took all out? |
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Nov 20 2015, 11:00 PM
Show posts by this member only | IPv6 | Post
#389
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Nov 20 2015, 10:54 PM) Oh.. he took all out? I have no idea as she didn't inform d details |
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Nov 21 2015, 09:58 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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I just realize we can deposit into SSPN using your credit card. @ their PTPTN centers
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Nov 21 2015, 10:04 AM
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Junior Member
376 posts Joined: Dec 2013
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QUOTE(ronnie @ Nov 21 2015, 09:58 AM) I just realize we can deposit into SSPN using your credit card. @ their PTPTN centers do they impose credit card charges?if use cashback credit card can get back some cash? will give it a try. TQ |
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Nov 21 2015, 11:03 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(giko @ Nov 21 2015, 10:04 AM) do they impose credit card charges? They didn't mention that.if use cashback credit card can get back some cash? will give it a try. TQ |
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Nov 21 2015, 11:21 AM
Show posts by this member only | IPv6 | Post
#393
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(ronnie @ Nov 21 2015, 09:58 AM) I just realize we can deposit into SSPN using your credit card. @ their PTPTN centers Great Will use cc to earn points plus obtain relief |
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Nov 21 2015, 01:24 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(ronnie @ Nov 21 2015, 09:58 AM) I just realize we can deposit into SSPN using your credit card. @ their PTPTN centers wah nice |
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Nov 21 2015, 02:54 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(ronnie @ Nov 21 2015, 09:58 AM) I just realize we can deposit into SSPN using your credit card. @ their PTPTN centers Wow good to know.. |
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Nov 22 2015, 07:45 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(ronnie @ Nov 21 2015, 09:58 AM) I just realize we can deposit into SSPN using your credit card. @ their PTPTN centers Wow... you want to their Damansara Height branch?AMEX or VISA or MASTER... |
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Nov 22 2015, 07:57 AM
Show posts by this member only | IPv6 | Post
#397
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Nov 22 2015, 07:45 AM) Wow... you want to their Damansara Height branch? D'sara Heights is their HQAMEX or VISA or MASTER... They have a lot of branches in Klang Valley |
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Nov 22 2015, 08:00 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wil-i-am @ Nov 22 2015, 07:57 AM) D'sara Heights is their HQ Just now I went to their website and check, guess the nearest to PJ is Damansara Heights.. They have a lot of branches in Klang Valley |
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Nov 22 2015, 08:04 AM
Show posts by this member only | IPv6 | Post
#399
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Nov 22 2015, 08:00 AM) Just now I went to their website and check, guess the nearest to PJ is Damansara Heights.. Cliq tis linkhttp://www.ptptn.gov.my/web/guest/cwgn-negeri-selangor |
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Nov 22 2015, 08:12 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wil-i-am @ Nov 22 2015, 08:04 AM) Thanks bro... I see Mutiara Damansara also got, working on Sundays as well.. |
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Nov 23 2015, 09:06 AM
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Senior Member
669 posts Joined: Jan 2005 From: Kandang Lembu, KL
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i opened my new account in tesco scott garden, really didn't expect they would set up a counter in front of some arcade shop.
got 2 umbrella from my account opening. Yes, they allow to use credit / debit card to pay, but somehow it refuse to accept my citibank cashback credit card and to use cimb credit card to pay. This post has been edited by repusez: Nov 23 2015, 09:07 AM |
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Nov 24 2015, 12:12 AM
Show posts by this member only | IPv6 | Post
#402
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(repusez @ Nov 23 2015, 09:06 AM) i opened my new account in tesco scott garden, really didn't expect they would set up a counter in front of some arcade shop. By default, they give 1 umbrella or u request extra?got 2 umbrella from my account opening. Yes, they allow to use credit / debit card to pay, but somehow it refuse to accept my citibank cashback credit card and to use cimb credit card to pay. |
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Nov 24 2015, 12:21 AM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(repusez @ Nov 23 2015, 09:06 AM) i opened my new account in tesco scott garden, really didn't expect they would set up a counter in front of some arcade shop. wow nice u got 2 umbrella got 2 umbrella from my account opening. Yes, they allow to use credit / debit card to pay, but somehow it refuse to accept my citibank cashback credit card and to use cimb credit card to pay. some don't get anything |
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Nov 24 2015, 05:30 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(repusez @ Nov 23 2015, 09:06 AM) i opened my new account in tesco scott garden, really didn't expect they would set up a counter in front of some arcade shop. Earn points from credit cardgot 2 umbrella from my account opening. Yes, they allow to use credit / debit card to pay, but somehow it refuse to accept my citibank cashback credit card and to use cimb credit card to pay. |
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Nov 29 2015, 09:23 PM
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Senior Member
669 posts Joined: Jan 2005 From: Kandang Lembu, KL
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QUOTE(wil-i-am @ Nov 24 2015, 12:12 AM) By default, they give 1 umbrella or u request extra? i didn't request for 2, but i just ask if got free gift, and the officer said minimum rm200 for the umbrella, so when i deposit rm500 I was suprise they give 2. hehe |
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Nov 30 2015, 07:24 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(repusez @ Nov 29 2015, 09:23 PM) i didn't request for 2, but i just ask if got free gift, and the officer said minimum rm200 for the umbrella, so when i deposit rm500 I was suprise they give 2. hehe Hehe.. If i deposited 5k, i get how many... |
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Nov 30 2015, 07:44 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Nov 30 2015, 07:24 AM) Hehe.. If i deposited 5k, i get how many... Dun forget to extend 1 to me ya... |
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Nov 30 2015, 08:40 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wil-i-am @ Nov 30 2015, 07:44 AM) Dun forget to extend 1 to me ya... If I get that many umbrellas, surely will give you some!! |
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Nov 30 2015, 03:59 PM
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Junior Member
140 posts Joined: Jun 2005
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Just saw in the tv that sspn limit is now 12k? I thought it is 6k. That s a lot! Put in 12k, that s instantaneous return of 2880 (assuming tax bracket is 24%).
If I put in today, will i be able to take it out next Jan? Without any penalty or charges? |
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Nov 30 2015, 04:02 PM
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Senior Member
669 posts Joined: Jan 2005 From: Kandang Lembu, KL
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i think that is sspn-i which has life insurance, so the tax relief is 6k for sspn and another 6k for insurance, but if you already have your EPF and insurance contribution that 6K has already reach the max limit.
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Nov 30 2015, 10:08 PM
Show posts by this member only | IPv6 | Post
#411
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Senior Member
10,001 posts Joined: May 2013
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SSPN-i is a normal savings plus tax relief up to RM6k pa
SSPN-I Plus is a normal savings plus insurance (mthly commitment) plus tax relief up to RM6k pa (tis will join force with existing RM6k under EPF & Life Insurance) |
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Dec 1 2015, 09:46 AM
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Junior Member
204 posts Joined: Aug 2009
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sorry, double post
This post has been edited by wkalvin: Dec 1 2015, 10:00 AM |
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Dec 1 2015, 11:32 AM
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Senior Member
4,436 posts Joined: Oct 2008
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I call up the SSPN hotline and asked them whether can set up a standing instruction using credit-card facilities or not.
She answered as of this moment they do not have S.I. facilities. However, to my mind, this S.I. thingy is just a matter of time. Xuzen |
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Dec 1 2015, 04:47 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Planning to go Mutiara Damansara office this weekend to pay by credit card!!!
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Dec 2 2015, 12:30 AM
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Senior Member
1,248 posts Joined: May 2011
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Just to supplement that credit card can be used from their official web site. Will try try too... Hehe..
http://www.ptptn.gov.my/web/guest/simpanan/kemudahan-sspn-i This post has been edited by SmallPotato2011: Dec 2 2015, 12:30 AM |
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Dec 13 2015, 03:16 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Deposited to fulfill 2015 tax relief requirement..
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Dec 18 2015, 03:13 PM
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Junior Member
79 posts Joined: Feb 2011
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If I deposit 6k today, and withdraw later what's the minimum amount i need to maintain in the account?
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Dec 18 2015, 03:31 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(dcon @ Dec 18 2015, 03:13 PM) If I deposit 6k today, and withdraw later what's the minimum amount i need to maintain in the account? open account for your kids is rm20 only.. maintain account balance they never mention. you have to ask sspn.. |
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Dec 21 2015, 01:05 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(dcon @ Dec 18 2015, 03:13 PM) If I deposit 6k today, and withdraw later what's the minimum amount i need to maintain in the account? You must put the RM6k until after 31 Dec to be entitled for the RM6000 tax relief. |
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Dec 21 2015, 08:31 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(ronnie @ Dec 21 2015, 01:05 PM) You must put the RM6k until after 31 Dec to be entitled for the RM6000 tax relief. You mean till 31-Dec-2016? |
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Dec 21 2015, 11:08 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Kaka23 @ Dec 21 2015, 08:31 PM) You mean till 31-Dec-2016? Nope, till 31/12/2015U can withdraw from 4/1/2016 onwards |
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Dec 22 2015, 12:26 AM
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Senior Member
3,140 posts Joined: Jan 2003
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Hi All... Need some helps here...
I just register for SSPN online account just now.. I'm puzzled as why there's no interest paid for year 2013. I make the deposit end of 2012. By right, I should receive the dividend for year 2013, right? Thanks. Attached thumbnail(s) 
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Dec 22 2015, 12:29 AM
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Junior Member
103 posts Joined: Nov 2009
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QUOTE(shadow111 @ Dec 22 2015, 12:26 AM) Hi All... Need some helps here... you did receive the 2013 dividend on 1/1/2014I just register for SSPN online account just now.. I'm puzzled as why there's no interest paid for year 2013. I make the deposit end of 2012. By right, I should receive the dividend for year 2013, right? Thanks. |
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Dec 22 2015, 12:35 AM
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Senior Member
3,140 posts Joined: Jan 2003
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QUOTE(Styrroyds @ Dec 22 2015, 12:29 AM) you did receive the 2013 dividend on 1/1/2014 oopsss... I thought it will be bank in end of the year..silly me... Thanks you.. |
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Dec 22 2015, 07:52 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(shadow111 @ Dec 22 2015, 12:26 AM) Hi All... Need some helps here... You deposit on 27/2, only 4 days interest maybe not significant to put inside I just register for SSPN online account just now.. I'm puzzled as why there's no interest paid for year 2013. I make the deposit end of 2012. By right, I should receive the dividend for year 2013, right? Thanks. |
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Dec 26 2015, 11:48 PM
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Junior Member
8 posts Joined: Dec 2014
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Just deposited rm6k, this was my 4 years in a row to deposit money to get tax relief. Now with the credit card, I wonder how ptptn to prevent abuse of this facility. Just keep withdraw and deposit multiple times a year, it's good enough to generate lots of credit card points. Let me check my credit card statement next month... Maybe no points given
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Dec 26 2015, 11:51 PM
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All Stars
10,859 posts Joined: Jan 2003 From: Sarawak
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can use credit card to pay ptptn or sspn?
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Dec 26 2015, 11:57 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Ahmosai @ Dec 26 2015, 11:48 PM) Just deposited rm6k, this was my 4 years in a row to deposit money to get tax relief. Now with the credit card, I wonder how ptptn to prevent abuse of this facility. Just keep withdraw and deposit multiple times a year, it's good enough to generate lots of credit card points. Let me check my credit card statement next month... Maybe no points given U shld obtain points from the Bank |
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Dec 27 2015, 12:05 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(ben3003 @ Dec 26 2015, 11:51 PM) can use credit card to pay ptptn or sspn? I just use cc to pay sspn last week |
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Dec 27 2015, 09:41 AM
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Senior Member
2,881 posts Joined: Oct 2006 From: Kota Kinabalu, Sabah.
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QUOTE(wil-i-am @ Dec 27 2015, 12:05 AM) I just use cc to pay sspn last week At the center or via online? |
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Dec 27 2015, 11:24 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(ben3003 @ Dec 26 2015, 11:51 PM) can use credit card to pay ptptn or sspn? SSPN yes.. done it! |
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Dec 27 2015, 01:35 PM
Show posts by this member only | IPv6 | Post
#432
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Senior Member
3,966 posts Joined: Nov 2007
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if i go to a maybank branch on tuesday to open an SSPN-i account and deposit money on the spot, can get relief for 2015 also right?
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Dec 27 2015, 02:27 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(pisces88 @ Dec 27 2015, 01:35 PM) if i go to a maybank branch on tuesday to open an SSPN-i account and deposit money on the spot, can get relief for 2015 also right? Yeap.. My first time was through Maybank |
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Dec 27 2015, 02:28 PM
Show posts by this member only | IPv6 | Post
#434
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Senior Member
3,966 posts Joined: Nov 2007
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QUOTE(Kaka23 @ Dec 27 2015, 02:27 PM) Yeap.. My first time was through Maybank good to know, will ask my parents proceed on tues |
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Dec 27 2015, 04:18 PM
Show posts by this member only | IPv6 | Post
#435
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(tenchi0205 @ Dec 27 2015, 09:41 AM) At the center or via online? At SSPN outlet |
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Dec 28 2015, 01:41 PM
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Junior Member
440 posts Joined: Apr 2005
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i also want to open an account to get the tax relief YA2015
for the sspn-i account opening 1. is it only for parent who already has children ? 2. I saw from website, it does have a individual account (age 30 above), can I apply this to get tax relief 3. saw contradicting info on the withdrawal. Some saw can withdraw, some say cannot. Cann't call them to as the line keep engaging ?!!! thanks all |
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Dec 28 2015, 01:44 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(cfc @ Dec 28 2015, 01:41 PM) i also want to open an account to get the tax relief YA2015 Question 1 :for the sspn-i account opening 1. is it only for parent who already has children ? 2. I saw from website, it does have a individual account (age 30 above), can I apply this to get tax relief 3. saw contradicting info on the withdrawal. Some saw can withdraw, some say cannot. Cann't call them to as the line keep engaging ?!!! thanks all Who is eligible for tax relief incentive? Answer : Parents and adopted parents/ legal guardians who deposited in SSPN-i savings account for their children will be given tax relief incentive. Question 2 : Does depositor who opened the account for their ownselves eligible for the incentive? Answer : No, they are not eligible. http://www.ptptn.gov.my/web/english/insent...ih-dalam-sspn-i |
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Dec 28 2015, 01:49 PM
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Junior Member
440 posts Joined: Apr 2005
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oo ... really thx for the fast reply
dead end to get the tax relief !!! |
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Dec 28 2015, 01:57 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(cfc @ Dec 28 2015, 01:49 PM) oo ... really thx for the fast reply try PRS funds?dead end to get the tax relief !!! self top up EPF? |
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Dec 29 2015, 01:12 AM
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Junior Member
33 posts Joined: Apr 2015
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QUOTE(Ahmosai @ Dec 26 2015, 11:48 PM) Just deposited rm6k, this was my 4 years in a row to deposit money to get tax relief. Now with the credit card, I wonder how ptptn to prevent abuse of this facility. Just keep withdraw and deposit multiple times a year, it's good enough to generate lots of credit card points. Let me check my credit card statement next month... Maybe no points given "Just keep withdraw and deposit....."plz explain how you can easily withdraw as I understand it is not |
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Dec 29 2015, 02:53 PM
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Junior Member
371 posts Joined: Nov 2007
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Please check the T&C for the reward points for your credit card. I just checked the Citibank, one of the condition is....no point for those transaction which is approved by LHDN for tax relief.
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Dec 29 2015, 05:23 PM
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Junior Member
257 posts Joined: Jan 2005
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QUOTE(lionking7791 @ Dec 29 2015, 02:53 PM) Please check the T&C for the reward points for your credit card. I just checked the Citibank, one of the condition is....no point for those transaction which is approved by LHDN for tax relief. This is new... |
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Dec 30 2015, 03:03 PM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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I get my 9k points (6k myself, 3k my wife) using PB VS card last 2 weeks.
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Dec 30 2015, 03:11 PM
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Senior Member
5,143 posts Joined: Jan 2015
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from the Product Disclosure Sheet: https://www.pbebank.com/pdf/Cards/pds/pds_credit_pbb.aspx Attached thumbnail(s) 
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Dec 30 2015, 03:38 PM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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No idea, the transaction posted as ONEPOINT SERVICE WP KUALA LUMP MY
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Dec 30 2015, 06:19 PM
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Senior Member
3,294 posts Joined: Dec 2005
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Any idea the kioks at Metro Prima last until when?
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 Dec 30 2015, 07:27 PM
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Junior Member
8 posts Joined: Dec 2014
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QUOTE(wil-i-am @ Dec 26 2015, 11:57 PM) U shld obtain points from the Bank Indeed, just checked online statement, reward points credited. Just thinking out loud if next year withdraw all my money out (roughly RM25K), then re-deposit again. Withdraw again, re-deposit again.. I can easily earn lot of reward points to exchange gadget |
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Dec 30 2015, 07:46 PM
Show posts by this member only | IPv6 | Post
#448
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(echoesian @ Dec 30 2015, 06:19 PM) Any idea the kioks at Metro Prima last until when? From 10am to 9pm |
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Dec 30 2015, 07:52 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Ahmosai @ Dec 30 2015, 07:27 PM) Indeed, just checked online statement, reward points credited. Just thinking out loud if next year withdraw all my money out (roughly RM25K), then re-deposit again. Withdraw again, re-deposit again.. I can easily earn lot of reward points to exchange gadget Spot onSuggest u try next mth n keep us updated here ya |
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Dec 30 2015, 11:23 PM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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QUOTE(Ahmosai @ Dec 30 2015, 07:27 PM) Indeed, just checked online statement, reward points credited. Just thinking out loud if next year withdraw all my money out (roughly RM25K), then re-deposit again. Withdraw again, re-deposit again.. I can easily earn lot of reward points to exchange gadget how to withdraw all? I thought we can only withdraw 10% / RM500 per year? |
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Dec 31 2015, 08:50 AM
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Senior Member
1,311 posts Joined: Oct 2012
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This cc thing is new to me. So where can we do the top up via cc next year? Many thanks.
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Dec 31 2015, 10:40 AM
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Senior Member
6,256 posts Joined: Jul 2005 From: UEP Subang Jaya
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QUOTE(familyfirst @ Dec 31 2015, 08:50 AM) This cc thing is new to me. So where can we do the top up via cc next year? Many thanks. I would like to know also, missed this when I was doing the 6k top-up this year. Can use cards like AEON Watami to get additional 3% cashback just from these transactions. |
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Dec 31 2015, 10:44 AM
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Junior Member
212 posts Joined: May 2013
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is it easy to withdraw out the money from sspn?
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Dec 31 2015, 10:51 AM
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Junior Member
212 posts Joined: May 2013
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Hey guys, got a ques.. let's say if i save 6k today, is it easy to withdraw in jan and also would the 6k i saved be eligible for the 2015 tax relief?
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Dec 31 2015, 10:56 AM
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Senior Member
6,256 posts Joined: Jul 2005 From: UEP Subang Jaya
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QUOTE(studentsurvey @ Dec 31 2015, 10:51 AM) Hey guys, got a ques.. let's say if i save 6k today, is it easy to withdraw in jan and also would the 6k i saved be eligible for the 2015 tax relief? Can, but then you won't be able to claim 2016 tax relief unless you put in 12k.Best way to 'play' is probably to put 6k per year for a few years until its sizable amount (let's say you go for 5 years), then withdraw one short in the 6th year. 7th year start putting 6k again. This will result in much better interest rate (just put the withdrawn amount in some investment or long-term FD) IMO compared to every year just add and add. |
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Dec 31 2015, 11:06 AM
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Junior Member
212 posts Joined: May 2013
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QUOTE(LostAndFound @ Dec 31 2015, 10:56 AM) Can, but then you won't be able to claim 2016 tax relief unless you put in 12k. Thanks for the prompt reply. Best way to 'play' is probably to put 6k per year for a few years until its sizable amount (let's say you go for 5 years), then withdraw one short in the 6th year. 7th year start putting 6k again. This will result in much better interest rate (just put the withdrawn amount in some investment or long-term FD) IMO compared to every year just add and add. At year 7, i wont be able to enjoy the tax relief right? since it us suppose to the net difference between the year before and the current year's savings.. I am more concerned about withdrawing the money as I have heard stories that people are only able to withdraw only a small portion. Should this be of a concern? Gonna try to go maybank and open the account before the year end to try it out.. hehe |
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Dec 31 2015, 11:57 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(alex_cyw1985 @ Dec 30 2015, 11:23 PM) how to withdraw all? I thought we can only withdraw 10% / RM500 per year? U can withdraw up to the available balance by submit your application to PTPTN outlet |
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Dec 31 2015, 12:05 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(familyfirst @ Dec 31 2015, 08:50 AM) This cc thing is new to me. So where can we do the top up via cc next year? Many thanks. PTPTN branchesQUOTE(LostAndFound @ Dec 31 2015, 10:40 AM) I would like to know also, missed this when I was doing the 6k top-up this year. Can use cards like AEON Watami to get additional 3% cashback just from these transactions. Any cc will do |
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Dec 31 2015, 04:54 PM
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All Stars
48,416 posts Joined: Sep 2014 From: REality
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QUOTE(LostAndFound @ Dec 31 2015, 10:56 AM) Best way to 'play' is probably to put 6k per year for a few years until its sizable amount (let's say you go for 5 years), then withdraw one short in the 6th year. 7th year start putting 6k again. This will result in much better interest rate (just put the withdrawn amount in some investment or long-term FD) IMO compared to every year just add and add. |
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Dec 31 2015, 09:46 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(LostAndFound @ Dec 31 2015, 10:56 AM) Can, but then you won't be able to claim 2016 tax relief unless you put in 12k. Works only IF:Best way to 'play' is probably to put 6k per year for a few years until its sizable amount (let's say you go for 5 years), then withdraw one short in the 6th year. 7th year start putting 6k again. This will result in much better interest rate (just put the withdrawn amount in some investment or long-term FD) IMO compared to every year just add and add. 1. when withdraw on 6th year, we willingly "give up" on 6th year's XX% tax relief 2. and on the 7th year, SSPN "resets" as we were "missing for 1 year" (6th year) I'm interested in doing it BUT unsure whether (2.) happens or not (reset). If doesn't "reset", like a previous forumer shared - coz on the 7th year, put in $6K pun tak cukup because took out say $20K 2 years ago (ie. net inwards still -$14K) However, IF the credit card is still acceptable AND can make points/cashback... heheh... every year withdraw 100% (eg $20K $26K $32K etc as it grows) then year end or close to Dec, plonk back in via credit card +$X,xxx |
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Jan 1 2016, 08:03 AM
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VIP
8,023 posts Joined: Jan 2003 From: :: Cheras ::
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QUOTE(wongmunkeong @ Dec 31 2015, 09:46 PM) Works only IF: (2) Should happen since the simple calculation is deposit for the year - withdrawal for the year.1. when withdraw on 6th year, we willingly "give up" on 6th year's XX% tax relief 2. and on the 7th year, SSPN "resets" as we were "missing for 1 year" (6th year) I'm interested in doing it BUT unsure whether (2.) happens or not (reset). If doesn't "reset", like a previous forumer shared - coz on the 7th year, put in $6K pun tak cukup because took out say $20K 2 years ago (ie. net inwards still -$14K) However, IF the credit card is still acceptable AND can make points/cashback... heheh... every year withdraw 100% (eg $20K $26K $32K etc as it grows) then year end or close to Dec, plonk back in via credit card +$X,xxx The method is pretty clever. I think I'll try that |
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Jan 2 2016, 01:17 AM
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Senior Member
6,256 posts Joined: Jul 2005 From: UEP Subang Jaya
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QUOTE(Syd G @ Jan 1 2016, 08:03 AM) (2) Should happen since the simple calculation is deposit for the year - withdrawal for the year. Everything I can find to read indicates that the calculation is simply increase within past calendar year, so shouldn't be a problem. Bigger issue is whether need to maintain a minimum amount, and over counter I was told no problem to withdraw (just that it takes time only).The method is pretty clever. I think I'll try that |
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Jan 12 2016, 10:37 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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Yesterday printed the SSPN 2015 tax relief statement.
Today submitted the withdrawal Officer said will takes time due to 2015 closing but it's ok. I pay less tax by at least 600 and that's an instant 10% return. |
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Jan 12 2016, 11:06 AM
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Senior Member
4,436 posts Joined: Oct 2008
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For those at high income tax bracket of 24%; RM 6,000.00 x 24% = RM 1,440.00 tax savings.
SSPN gave out 4.5% dividend: RM 6,000.00 x 4.5% = RM 270.00 RM 6,000 - 1,440.00 = RM 4,560.00 actual capital invested. Future value is RM 6,000 + 270 = 6,270.00 Hence profit per annum = (6270 -4560) / 4560 x 100 = 37.5% gain. Apa lagi lu mau? Xuzen |
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Jan 12 2016, 12:41 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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er.. weird
everyone's hitting 4.5% interest for 2015 & 2014? mine's only 4.25% - without any cash injection, thus clearly from interest my other account not too clear since mucked-up (can't "see clearly") with last minute cash injection |
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Jan 12 2016, 01:17 PM
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Senior Member
669 posts Joined: Jan 2005 From: Kandang Lembu, KL
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in the sspn page it says "Pengeluaran - Pendeposit hanya boleh membuat pengeluaran selepas 3 tahun dari tarikh pembukaan akaun dan jumlah minima yang perlu ada didalam akaun simpanan adalah sebanyak RM1,000.
Pengeluaran yang tidak memenuhi syarat diatas tidak akan diproses." http://www.ptptn.gov.my/web/guest/pengelua...penutupan-akaun no mention of such requirement in the english version http://www.ptptn.gov.my/web/english/saving...hdrawal-closure |
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Jan 12 2016, 01:29 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(repusez @ Jan 12 2016, 01:17 PM) "Pengeluaran - Pendeposit hanya boleh membuat pengeluaran selepas 3 tahun dari tarikh pembukaan akaun dan jumlah minima yang perlu ada didalam akaun simpanan adalah sebanyak RM1,000. This is the old rules.New rules you can withdraw any amount anytime, just that it takes time for them to process and credit back to our account. The rules will change from time to time as per SSPN. |
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Jan 13 2016, 07:58 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(xuzen @ Jan 12 2016, 11:06 AM) For those at high income tax bracket of 24%; RM 6,000.00 x 24% = RM 1,440.00 tax savings. SSPN gave out 4.5% dividend: RM 6,000.00 x 4.5% = RM 270.00 RM 6,000 - 1,440.00 = RM 4,560.00 actual capital invested. Future value is RM 6,000 + 270 = 6,270.00 Hence profit per annum = (6270 -4560) / 4560 x 100 = 37.5% gain. Apa lagi lu mau? Xuzen 37.5%.... I want |
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Jan 18 2016, 10:28 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(rapple @ Jan 12 2016, 10:37 AM) Yesterday printed the SSPN 2015 tax relief statement. Today got my money back from SSPN. Less than 7 working days.Today submitted the withdrawal Officer said will takes time due to 2015 closing but it's ok. I pay less tax by at least 600 and that's an instant 10% return. |
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Jan 19 2016, 10:45 AM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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eh. statement for my 2015, dividend was given on 01/01/2015.
how come 2016 did not show dividend yet? |
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Jan 19 2016, 12:25 PM
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Junior Member
243 posts Joined: Feb 2011
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QUOTE(rapple @ Jan 18 2016, 10:28 PM) Today got my money back from SSPN. Less than 7 working days. Same like u |
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Jan 19 2016, 02:47 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(kochin @ Jan 19 2016, 10:45 AM) eh. statement for my 2015, dividend was given on 01/01/2015. Dividend around Mar/Apr tis yrhow come 2016 did not show dividend yet? |
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Jan 19 2016, 04:49 PM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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QUOTE(Ahmosai @ Dec 30 2015, 07:27 PM) Indeed, just checked online statement, reward points credited. Just thinking out loud if next year withdraw all my money out (roughly RM25K), then re-deposit again. Withdraw again, re-deposit again.. I can easily earn lot of reward points to exchange gadget wah.... this is news to me.so technically, can i swipe say RM100k in dec, then withdraw everything in Jan? then mah 100000 points liao??!! |
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Jan 19 2016, 08:54 PM
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Senior Member
817 posts Joined: Aug 2012
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QUOTE(rapple @ Jan 18 2016, 10:28 PM) Today got my money back from SSPN. Less than 7 working days. How to withdraw? Go to any SSPN office and fill up withdrawal form?? |
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Jan 19 2016, 10:00 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(Vector88 @ Jan 19 2016, 08:54 PM) How to withdraw? Go to any SSPN office and fill up withdrawal form?? Yup. |
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Jan 20 2016, 04:18 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(rapple @ Jan 18 2016, 10:28 PM) Today got my money back from SSPN. Less than 7 working days. Did you close the account ? Or withdraw most of it ? |
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Jan 20 2016, 04:34 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(ronnie @ Jan 20 2016, 04:18 PM) Did you close the account ? Or withdraw most of it ? Didn't want to close the account. Only withdraw 80% of it. |
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Jan 25 2016, 04:03 AM
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Senior Member
1,143 posts Joined: Sep 2008
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I am ineligible for the Tax relief.
Do not have insurance. Is it worth it to open an account for the Competitive dividends and Free Takaful coverage? |
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Jan 26 2016, 10:11 AM
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Senior Member
1,441 posts Joined: Oct 2006 From: *Gadgets world*
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QUOTE(wu ming @ Jan 25 2016, 04:03 AM) I am ineligible for the Tax relief. imho better go for asb which gv higher dividens, and for takaful coverage u can buy from any insurance provider.Do not have insurance. Is it worth it to open an account for the Competitive dividends and Free Takaful coverage? |
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Jan 26 2016, 05:32 PM
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Senior Member
1,143 posts Joined: Sep 2008
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QUOTE(bearbearhong @ Jan 26 2016, 10:11 AM) imho better go for asb which gv higher dividens, and for takaful coverage u can buy from any insurance provider. Unfortunately, I am pendatang and pendatang quota already full. Only left that variable funds that charges 5% sales charge with 6% GST. Not worth it.QUOTE(wil-i-am @ Dec 27 2015, 12:05 AM) I just use cc to pay sspn last week Any charges for it? |
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Jan 26 2016, 05:38 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(wu ming @ Jan 26 2016, 05:32 PM) Any charges for it? Nope |
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Jan 26 2016, 07:40 PM
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Senior Member
2,112 posts Joined: Jul 2013
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QUOTE(rapple @ Jan 12 2016, 01:29 PM) This is the old rules. Just open the account for 1yr also can withdraw? Can I top up & withdraw every month?lolz..New rules you can withdraw any amount anytime, just that it takes time for them to process and credit back to our account. The rules will change from time to time as per SSPN. |
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Jan 26 2016, 09:32 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(leo_kiatez @ Jan 26 2016, 07:40 PM) Just open the account for 1yr also can withdraw? Can I top up & withdraw every month?lolz.. Lol. Why you wanna top up and withdraw every month?I open in November 2015 and withdraw 80% in Jan 2016. |
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Jan 26 2016, 09:47 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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A good technique would be as follows :-
1. Dec 2016 - Deposit RM6,000 using Credit Card 2. Jan 2017 - Print the Tax Relief Receipt, withdraw RM6,000 to pay back the Credit card bill 3. Dec 2017 - Deposit RM12,000 using Credit Card 4. Jan 2018 - Print the Tax Relief Receipt, withdraw RM12,000 to pay back the Credit card bill 5. Dec 2018 - Deposit RM18,000 using Credit Card 6. Jan 2019 - Print the Tax Relief Receipt, withdraw RM18,000 to pay back the Credit card bill This post has been edited by ronnie: Jan 26 2016, 10:18 PM |
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Jan 26 2016, 09:58 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(ronnie @ Jan 26 2016, 09:47 PM) A good technique would be as follows :- Is net deposit right? So Dec 2017 should swipe 12k.1. Dec 2016 - Deposit RM6,000 using Credit Card 2. Jan 2017 - Print the Tax Relief Receipt, withdraw RM6,000 to pay back the Credit card bill 3. Dec 2017 - Deposit RM6,000 using Credit Card 5. Jan 2018 - Print the Tax Relief Receipt, withdraw RM6,000 to pay back the Credit card bill |
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Jan 26 2016, 10:19 PM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(rapple @ Jan 26 2016, 09:58 PM) Is net deposit right? So Dec 2017 should swipe 12k. Ya wor... updated already.... So the each cycle you need to pay more |
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Jan 26 2016, 11:31 PM
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Senior Member
2,112 posts Joined: Jul 2013
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QUOTE(rapple @ Jan 26 2016, 09:32 PM) Lol. Why you wanna top up and withdraw every month? For paying the CC bills.. Lolz. For withdrawal, submit the printed Tax Relief Receipt is a must for withdrawal? Its for what purpose? Does it mean we can only withdraw the previous year carry fwd balance only..I open in November 2015 and withdraw 80% in Jan 2016. This post has been edited by leo_kiatez: Jan 26 2016, 11:33 PM |
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Jan 27 2016, 06:43 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(leo_kiatez @ Jan 26 2016, 11:31 PM) For paying the CC bills.. Lolz. For withdrawal, submit the printed Tax Relief Receipt is a must for withdrawal? Its for what purpose? Does it mean we can only withdraw the previous year carry fwd balance only.. For withdrawal just go to any PTPTN branch to fill in the form and doesn't matter when you deposit it. The tax relief is for income tax use only. |
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Jan 27 2016, 06:45 AM
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Senior Member
6,256 posts Joined: Jul 2005 From: UEP Subang Jaya
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QUOTE(ronnie @ Jan 26 2016, 09:47 PM) A good technique would be as follows :- I like this idea. After a while no more limit on CC to play though =p have to max out all the CC.1. Dec 2016 - Deposit RM6,000 using Credit Card 2. Jan 2017 - Print the Tax Relief Receipt, withdraw RM6,000 to pay back the Credit card bill 3. Dec 2017 - Deposit RM12,000 using Credit Card 4. Jan 2018 - Print the Tax Relief Receipt, withdraw RM12,000 to pay back the Credit card bill 5. Dec 2018 - Deposit RM18,000 using Credit Card 6. Jan 2019 - Print the Tax Relief Receipt, withdraw RM18,000 to pay back the Credit card bill |
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Jan 27 2016, 08:23 AM
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All Stars
24,329 posts Joined: Feb 2011
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QUOTE(wu ming @ Jan 26 2016, 05:32 PM) Unfortunately, I am pendatang and pendatang quota already full. Only left that variable funds that charges 5% sales charge with 6% GST. Not worth it. Rubbish. If you checked out the ASNB thread, one can actually open account for those fixed price funds especially nowadays nearing CNY where units are in abundance. But one will have to work hard to get it. I managed to opened as1m and ASW2020 last month and I am Chinese despite they tell me it's full.I agreed with the variable funds. Really not worth. |
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Jan 27 2016, 08:25 AM
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All Stars
24,329 posts Joined: Feb 2011
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QUOTE(ronnie @ Jan 26 2016, 10:19 PM) Ya wor... updated already.... So the each cycle you need to pay more Btw, this tax relief is available until when? |
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Jan 27 2016, 08:35 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(Ramjade @ Jan 27 2016, 08:25 AM) Btw, this tax relief is available until when? SSPN Tax Relief of RM6000 up to year assessment 2017, after which will revert back to RM3000 Tax Relief only. |
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Jan 27 2016, 03:48 PM
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Senior Member
1,143 posts Joined: Sep 2008
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QUOTE(wil-i-am @ Jan 26 2016, 05:38 PM) Nope I notice that they paste a notice at the payment counter whereby they will charge 50 sen for transaction with debit card.I do not have a credit card but usually when I shop I will tell the teller to pick the credit card option for my debit card since it will entitle me points. But the ptptn teller told me that their machine doesn't have this option and you need to key in a pin for sspn deposit. This will not entitle points for debit card lo. I will try to inquire at other place. |
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Jan 28 2016, 09:06 AM
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All Stars
21,307 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(rapple @ Jan 26 2016, 09:32 PM) Lol. Why you wanna top up and withdraw every month? So this rule @ http://www.ptptn.gov.my/web/english/faq-en...sspn/withdrawal no longer applies ?I open in November 2015 and withdraw 80% in Jan 2016. |
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Jan 28 2016, 09:17 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(ronnie @ Jan 28 2016, 09:06 AM) Doesn't applies. |
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Jan 28 2016, 10:38 AM
Show posts by this member only | IPv6 | Post
#496
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Senior Member
2,025 posts Joined: Jan 2003 From: PJ
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where can i pay by CC? i like the pay & withdraw idea a lot too. get tons of free CC pts like that
even could pay 40k by card, then withdraw again if you want more points |
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Jan 28 2016, 10:41 AM
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Senior Member
2,112 posts Joined: Jul 2013
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QUOTE(rapple @ Jan 28 2016, 09:17 AM) Doesn't applies. So besides filling in the sspn-i withdrawal form, do you attach photocopy of your bank account book during withdrawal? What are the document provided for withdrawal?Wonder what is the Max limit per swipe for using cc to place in the deposit?=P This post has been edited by leo_kiatez: Jan 28 2016, 10:45 AM |
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Jan 28 2016, 10:47 AM
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Senior Member
1,276 posts Joined: Dec 2005 From: Klg-Ktn-Klg-KK-PG-BM
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where can we topup using credit card?
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Jan 28 2016, 10:53 AM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(leo_kiatez @ Jan 28 2016, 10:41 AM) So besides filling in the sspn-i withdrawal form, do you attach photocopy of your bank account book during withdrawal? What are the document provided for withdrawal? You just need to fill in your bank account number in the withdrawal form. Doesn't need to bring anything, maybe except your IC.Wonder what is the Max limit per swipe for using cc to place in the deposit?=P |
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Jan 28 2016, 10:30 PM
Show posts by this member only | IPv6 | Post
#500
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(PJusa @ Jan 28 2016, 10:38 AM) where can i pay by CC? i like the pay & withdraw idea a lot too. get tons of free CC pts like that even could pay 40k by card, then withdraw again if you want more points QUOTE(sevendogz @ Jan 28 2016, 10:47 AM) where can we topup using credit card? CC is accepted at their branches |
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