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SSPN, Skim Simpanan Pendidikan Nasional
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roy_zu
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 Sep 21 2021, 08:20 AM
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QUOTE(hlmilk112 @ Sep 20 2021, 01:11 PM) Hi all sifu, if others ppl (relative or brothers) deposit into my daughter account will SSPN question? I got 3 accounts, so i just give out one account for my relatives use. Is that ok? But just if wanna cash out then need thru my bank account only. Rite? If looking at earning interest, just get them to open own account. There is no way they can benefit from tax relief since 8k max per parent (regardless number of children) |
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roy_zu
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Mar 29 2023, 10:37 AM
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QUOTE(CharmaineLee80 @ Mar 29 2023, 10:35 AM) Anyone knows how to withdraw from SSPN? Did mine from the SSPN Prime Portal. Within 2 business days the full amount credited into my account. |
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roy_zu
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Mar 29 2023, 01:24 PM
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Looks like will loose the March interest due to withdrawal yesterday. Already parked the fund in FD. So to enjoy tax relief, will need to top up all the withdrawal amount + 8k by Dec
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roy_zu
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Apr 9 2024, 03:07 PM
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So the only way to make full withdrawal and closing account can be done at branch? Any branch would do or only the main KL branch?
Couldn't find any info related to this in their website
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roy_zu
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Mar 5 2025, 12:49 PM
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Wanted to get insight on below:
In beginning of 2024, I withdraw all the deposit from SSPN (Child A) and never put fresh fund in. The amount was around 50k. Hence, there is no tax incentive for 2024. Wife did the same.
Now, if I wanted to start depositing again for 2025, I assume this should be, 50k+8k to get the tax incentive. While wife doesn't need to do anything since it's max 8k for both parents.
What if, I register a new SSPN for Child B, and start fresh of 8k for 2025? Is this doable?
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roy_zu
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Mar 5 2025, 01:02 PM
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QUOTE(talexeh @ Mar 5 2025, 12:54 PM) You already skipped the tax relief for year 2024, therefore you don't have to re-deposit the RM50K anymore for year 2025. You can start from 0 again now therefore RM8K is all you need to deposit. Thanks. This is great. |
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roy_zu
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Mar 5 2025, 01:03 PM
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QUOTE(MUM @ Mar 5 2025, 12:58 PM) Both of you did not claim tax relief for last year 2024 income to be declared in Mar 25. Many had said the net contribution qualified for tax relief is based on calender year basis. So this year 2025, either 1 parent can claim max 8k from each house hold, regardless of number of children. Just deposit 8k. Thanks. That means, only 8k deposit for Child A, and not needed to open another account for Child B for wife to get the tax incentive. |
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roy_zu
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Mar 5 2025, 01:18 PM
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QUOTE(MUM @ Mar 5 2025, 01:11 PM) If you are on the higher tax bracket, Open another one for child B too. Do alternate year deposit between child's accounts. Else, only 1 child has sspn money, while the other child has none. Ha ha ha Got it. I'm on max bracket. Will start with 8k again for Child A until the tax incentive expires. I'm good with only one child having SSPN since both of them richer than me with their ASM holdings. Hahaha |
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