Oh and before I forgot, not sure anyone has mentioned this, but as of next year SSPN deposit for tax rebate purpose will be increased to RM8000 per year...

RM8000 x 25%... awesome ROI yearly.

so the conclusion is cannot pay SSPN-I using credit card (for JOMPAY) rite?

will they allow swipe credit card if I go PTPTN office to pay ?

yo interested in this since i became parent last year

been reading quite a bit, just to confirm:

if i deposit 6k this year and withdraw jan 2019, i have to depo 12k end 2019 to be eligible for 2019 tax relief right?

what if I deposit 6k this year (2018) then dont touch the amount for entire 2019, can i claim tax relief for both 2018 and 2019? or only 2018?

i successfully top up SSPN-i using my BigPay card RM10K, as maximum monthly topup is RM10k for BigPay...

Anyone knows if credit card is accepted when topping up SSPN account?

This one has been quite clearly shown in their example, you will only get 5k rebate.

Don't confuse yourself with 'after tax filed' or anything, that is not relevant. Relevant is just:-

1. How much money you had in the account on Jan 1st 20XX - RM A
2. How much interest (if any) you earned on your account during 20XX) - RM B
3. How much money you had on Dec 31st 20XX - RM C

You can claim RM (C- (A+B)). That's all, not complicated.

No it's not, it's based on change, not final amount.

I currently have about 32k in SSPN, means to qualify for the 8k deduction next year I need to end the year at 40+k in SSPN. If in between I withdraw everything will need to put it back in + 8k.

Thanks for shed some light. 
I do aware max. tax relief is RM8k for year 2019.
Anyway, await hands-on experienced sifu to confirm.

hi sifu-sifu,

I have an evil idea. Can we do multiple SSPN deposit and withdrawal in a year? Set aside the tax relief purpose, the intention here is to get as many credit card reward points as possible. Anyone tried below:

1. reload 10k into BgiPay card using visa/master credit card, earn 10k credit card points.
2. deposit 10k by swipe BigPay card at PTPTN branch.
3. wait 1 month, then go PTPTN withdraw that 10k.
4. repeat steps 1-3 again to earn another 10k credit card points.

Is that do-able ?

Erm, not something new.

I already did it in:-

Nov/Dec 2015 - Deposit 6k then withdraw in Jan 2016
Nov/Dec 2016 - Deposit 12k then withdraw in Jan 2017
Nov/Dec 2017 - Deposit 18k then withdraw in Feb 2018

Didn't really check on how they calculate.

Yes I do receive interest

I believe the interest will be very minimal, the idea of deposit+withdraw mainly for tax relief purpose and taking the money to invest in somewhere that gives much higher return.

I deposited 6k on dec2017 and withdrawal on Jun2018 (wasted few months parking money there), I got interest of rm20.

while waiting for his responses....
I think theoretically if you deposited in Dec 2017.....then you should just get abt 1 month of interest...

4% is nice. The way I see the return is different and its still a very simplistic aproach.

I invest 6k p.a. and then get my tax refund on it. Given my marginal tax lvl is 24% I get a refund of RM 1440 i.e. I really only invested RM 4560. I do get interest on RM 6000 though at 4% = RM 240 and on top I get the free money.

240/4560 = 5.26% interest on the money i really invested. That is damn good for a save investment is it not? And when I eventually cash out I get all the extra free money on top as well. I am not complaining.

Of course you can still say I could take the entire money out and make it work outside for higher returns to improve the ROI even further. Granted but anything that has a real return of 5% on the money i invested and is guaranteed no loss of money sounds decent enough for me.

Household income not more than 2k who will still put money in SSPN??? Do they really think it through before implementing this 'incentive'?

If you deposit in December (as most people do) you will not earn dividend for that amount in December.

ic. nowadays LHDN rajin siasat the SSPN. My friend kena submit statement for SSPN.

You're right. Guess I gotta bug BP CS tomorrow then but gonna set expectation to myself that they'll most probably be clueless.

I deposited RM5900 on 24.12.2018 and receive Air ASIA BIG 295 pts on 28.12.2018
Yes i just  posted on PTPTN FB,
but email to Air ASia also

askbig@airasiabig.com
Dear Sir,

I refer to above Air Asia/ Big Pay campaign  for depositor to SSPN-i

https://www.ptptn.gov.my/images/fail/promos...ercuma_2018.pdf

I deposited RM5900 using my BIG PAY on 24.12.2018 for above campaign

I have only received the normal BIG point of 295 on 28.12.2018.

Terms and conditions say I should get additional 6X per RM20, after 45 days.

Can you please check when can i get the additional points?

Thank you,
Should be Big Pa/ Air Asia