can use credit card to do repayment for ptptn loan, but just to confirm can we use credit card to make contribution for kids sspn account?

i mean if i visit ptptn office they have the credit card machine can we do contribution by using credit card or die die must be cash or cheque? Anyone have ever make a sspn contribution through credit card?

the 4% (2021 3%) return is not that attractive.... the tax rate (bracket) you are in save you more... eg if u r earning 200k a year you are saving 24% of the 8k invested = 1920 of tax refund... that is money...

Personally i think what he is trying to say is your opening balance as at 01.01.year XX.... also interest credit for the year (interest you earned for prior year saving) are not part of your saving for tax relief...

if you withdraw from 1st kid 8k means this year (2022) you have negative 8k

than you deposit 8k into 2nd kid means this year (2022) you have nothing (cause 8-8=0)

the SSPN officer is somehow not wrong but you can also deposit 16k into the 2nd kid account to make it a 8k net deposit for the year... (for tax relief)

Just withdraw 99% of the balance in account, now waiting for it to be bank into account... since no more tax relief like not really worth keeping the money here since return are not fixed (until next year when dividend announcement made for previous year) better keep in FD promo... this year 2022 return yet to announce..

This post has been edited by confusedway: Mar 8 2023, 12:53 PM

technically this sspn or ptptn thing is burning money (the government money = tax payer money = our money)...

why???

1. the loan to student usually didnt repay on time...

2. government always give discount for those who pay 1 off settlement, continuous payment for a few months in a row, enroll for auto repayment...

3. write-off loan for excellent result student...

4. administration charges of 1% and only start charging after you complete your study (one time heard is after few years of completion study)

5. pay sspn saver interest (3-4% depends on which year)

6. tax relief (meaning tax revenue reduce)

and to be add on???

so how can ptptn got money to invest??? unless government keep on inject money into the organisation else they should have bankrupt many years back...

3.06%... still higher than last year... how???

u need to link the account in Investment... but currently unavailable...

up to 5k still no charges... but sspn transfer is 50 cents per transfer la...