It will be mid to end Mar as informed by SSPN live chat

If 8K relief not being extended & dividend only 3%, those genuine depositors will switch back to FD or any better investment.
I think the effect of mass withdrawal will be a nightmare to SSPN.

This is confirm old budget proposal not approved in Parliament.

[QUOTE]To encourage debtors to pay off their loans and promote saving habits, Budget 2023 provides income tax relief up to RM8,000 until YA 2024 for net annual savings in SSPN.

Other student debt reductions assistance include:

20% off outstanding PTPTN loan balance upon full settlement between 1 November 2022 to 30 April 2023

15% discount off outstanding PTPTN loan balance for debtors who pay off at least 50% of their remaining debt in a single payment or opt for salary deduction or scheduled direct debit between 1 November 2022 to 30 April 2023

1. ronnie - 3.00%
2. magika - 3.3%
3. kechung - 3.44% (heart die die = hopeless in cantonese)
4. nexona88 - 3.50%
5. oks911 - 3.80%
6. virtualgay - 3.85%
7. duxia999 - 4%

I think tax exempt no chance already as announced in their web //sspn.plus/asas/pelepasan_cukai.php

I do online, withdraw almost all yesterday but system said will remit within 14 days.... So long to process.

Oh i see, that's consider fast. Thanks.

That's right, if budget u-turn, we also u-turn.

Now SSPN captain got vacancy so no one in charge to decide dividend.
Previous one Wan Saiful now busy with court matters

//www.klsescreener.com/v2/news/view/1116631/%E9%A2%84%E7%AE%97%E6%A1%88-sspn%E5%82%A88000%E5%85%83-%E6%89%80%E5%BE%97%E7%A8%8E%E6%89%A3%E7%A8%8E%E5%BB%B6%E9%95%BF2%E5%B9%B4

Now i am getting even most confused.

Withdraw via sspn portal really fast, request today & expect the fund by tomorrow night.

MAKLUMAN: Susulan daripada Belanjawan 2023 yang tidak menyebut berkenaan pelanjutan Pelepasan Cukai Taksiran Simpan SSPN, PTPTN kini sedang mendapatkan perincian daripada pihak kerajaan. Sebarang maklumat lanjut akan dimaklum dari semasa ke semasa. Maaf atas kesulitan ini.

Source : https://online.sspn.my/cukai

From what was announced, there is still chances of tax relief.

They are feeling the wave of mass withdrawal now

Same for me, just select kekat geran sepadan, no worry.

Yes

Going through all the tax reliefs for YA2023, there is'nt much we can do.
Perhaps take up 3K in PRS to mitigate part of the 8K lost.

For taxable income 100K (before sspn relief)
2022 tax = $9,020 after sspn relief
2023 tax = $9,400 with no sspn relief
Additional tax $380
PRS 3K @ 19% = $570 is worth consideration now.

This post has been edited by kechung: Mar 15 2023, 11:32 AM

Hopefully, but livechat just mentioned end Mar or early Apr.
Something seem to be not right here.

Seem like SSPN will only announce dividend once tax relief status is final, either extended or not.
If in case extended, most likely with a more stringent conditions.
Parking fund for few days to get tax relief may soon be a thing in the past.