seems like almost similar to post# 679

let the sifus here correct me if I am wrong . From what I understand, you can withdraw , but if you want FULL tax rebate for 2017, you would have to deposit 12k because you took out your first 6K in early 2017.

You should not withdraw atleast for a minimum 7 years, LHDN does random desk audit where you are require to submit yearly PTPTN statement.

BTW, just deposited RM6K into my kids account. Received free gift, umbrella from PTPTN.

as long as your 31st December 2016 SSPN statement shows 6k net savings then you already entitled to tax relief for YA2016.

I did that for YA2015. Deposit in Nov and Dec. Withdraw 5.5k out in Jan 2016.
deposit 6k in 2016.
withdraw 6k in 2017.
deposit 12k in 2017 to get net savings 6k for YA2017 tax relief.

i think it's better to leave a minimal amount of money in it to prevent they closed that account. since you are doing it yearly.

[attachmentid=7979766]
Just for your reference.

use the link above your post.

Saw this withdrawal info for SSPN. Is this a new rule? Anyone can clarify?

http://www.ptptn.gov.my/web/english/faq-en...sspn/withdrawal
What are the terms for withdrawal of savings?
Withdrawals are allowed after a period of 1 year upon opening of an account. There are 2 types of withdrawals:


•10% withdrawal of current balance OR RM500, whichever is lower, once a year; OR
•100% withdrawal (termination of account) in the following cases:◦The child is offered a place in any higher learning institution;
◦The child has voluntarily withdrawn from the education system OR has been expelled for a specific reason;
◦Suffering from an illness certified by a doctor as being incurable;
◦Experience total permanent disability as certified by a doctor;
◦Death of the child; or
◦Death of the depositor.

But still can withdrawal all/more than RM500? This term contradict what other say that can withdraw all? Thanks.

Yes. Can withdraw anytime.

Said multiple times already.

Think SSPN-i Plus is a life insurance + saving product.

They have some sort of quota to meet it seems.