Invest only max RM3k/year

I now invest in ASM also but the fund size was full. So need find other place to invest and reduce tax~

your sifu recomend this post#2130

For PRS growth fund, choose CIMB-PRINCIPAL PRS PLUS ASIA PACIFIC EX JAPAN EQUITY - CLASS C

For PRS moderate fund, choose Affin Hwang Moderate Fund.

This post has been edited by ironman16: Apr 9 2017, 07:22 PM

ASM does not reduce your tax. Being full is just an excuse. Checkout this thread https://forum.lowyat.net/topic/4183284

You can actually buy ASM online.

http://ppa.my/prs-youth/prs-youth-faqs/

hi, i just encountered this but i have no idea what is this or how it works

from what i read in the faq, i just go sign up for ppa account then put in 1k, i'll get another 1k from govt. right?

then what do i do after that? should i still put in money every month like insurance saving plans or epf?

the incentive given is only to buy units, what kind of unit? sorry i'm really blur at all this.

and the tax relief thing, so the 1k i put in PRS initially can be relieved?

sorry for asking so much, would be great if someone can simply explain the whole thing to me

I think tis link can provide some, most or all the answer to your questions

https://www.fundsupermart.com.my/main/faq/1...cheme-PRS--8865

btw, this RM1k things from the govt is called PRS Youth Incentives.....they have some conditions...

read the links....if still not understand try questions here again...ok?

hi, thanks for the link. i read through but it's almost the same faq

i found a link that explains nicely

https://ringgitplus.com/en/blog/Budgeting-S...Scheme-PRS.html

good that you had managed to find the answers to what you seek.
good luck and happy investing in PRS funds and BEYOND

how many % of your salary are you investing in PRS every month?

read back few postings from this page....some sifus said max is RM3k per year is recommended for PRS fund.
thus about RM 250 per month...which would be about ........% of my income.

About 10% for my income too... poor is really not good~

The main purpose of PRS to me is for tax relief + one time youth incentive.

Hence I would just invest 3k annually.

Alright, thanks for the info!

Actually what is the tax relief for? So you invest 3k annually, get relieved 3k, then don't have to pay any income tax? Sorry this is my third month working havent started paying any taxes

RM 3k max of tax relief from your aggregate annual income

This post has been edited by David83: Apr 10 2017, 10:08 AM

In your case, the main purpose is for the youth incentive. If you don't get taxed much, then once you get the tax relief, you can stop.

The regulars here are doing for tax relief purpose. it makes sense when they get taxed 20+% but not when you may not get taxed much.

i don understand how income tax works

https://www.imoney.my/calculator/income-tax-calculator

tried calculating, why does it show 0

edit: ok i mistaken the income as monthly, i put one year and tried, tax 300+ without prs. if invest prs 3k then it became 152..

This post has been edited by xHj09: Apr 10 2017, 10:33 AM

No problem with the website.
I tried with some dummy case. It is able to estimate the tax you need to pay for.

Not to mention that RM3k is yours which will be come bigger over time. The difference in RM100+ is not yours but the govt if you didn't buy PRS

yeah will probably create an PPA acc some time this month, thanks!

You have not been paying attention have you?

If MYR 250 = 10% of your salary, that means your salary is MYR 2,500 per month = MYR 30K per annum which means you are not even taxable.

So why bother with PRS?

The only thing for you to consider now is, if you are a Malaysian, aged btw 20 - 30, then whack in MYR 1K, just to get the govt incentive. Then work hard and smart to up your salary to the taxable level then use PRS to get the tax relief.

Get it boh? Pay attention in class can or not?

Xuzen