doing the same too for another 5 years ✌

can use joint account to purchase fund on fsm right ?

u mean joint account is bank account transfer money or FSM account?

5. Can I purchase PRS via beneficiary account?
No. PRS is only applicable to Personal Account only.

https://www.fsmone.com.my/support/frequentl...tions?faq=Funds

Has anyone of you withdraw the 1,500 for each fund house you have investment with from Account B of your PRS as permitted by the government?

no sure if can...withdraw 1.5k tax free.....then add in 1.5k fresh fund = total 3k...buy again PRS fund 3k...claim RM3k tax relief.....
if can....walao....sure untung

hahah potential loophole, but sounds fantastic if this can be done ehhhhhh

anyway, if you put in 1.5k = tax relief for 1.5k right.

withdrawal also can claim tax meh?

The taken out RM 1.5k is going back to buy PRS fund with additional RM 1.5k to make up for the RM 3k for tax relief.

ohhh.... i don't see any thing that prevent one from doing such thing. highly possible if you ask me.

Agreed with you.
But from I heard, the withdrawal is very troublesome as there's no e-withdrawal like EPF.
You need to deal with the respective PRS provider and submit physical original copy of the forms.

account B only have 30%, account A 70%. withdrawal can only be made on funds invested more than 1 year, ie last year.

yes i did with no penalty.

oh? i thought we could do via PPA website?

Yes, the only dilemma is last year those funds didnt really make positive returns, so in another words, selling at a loss.

hmm, still thinking if I should withdraw the money and put it into elsewhere like stashaway or others.

but what is stopping me is the negative return for 2019. But also not to forget, we also do have instant profits when we claim our tax relief.

so it's kinda even out.

As far as I know upon reading the FAQ from PPA portal, PPA won't facilitate the withdrawal. You deal it yourself with PRS provider.

Also, I don't think there's sell or withdrawal feature at PPA portal.

This post has been edited by GrumpyNooby: Dec 2 2020, 02:31 PM

ok thanks for the info. i think i will withdraw from one of the 2 providers i invested in.

which fund u purchase?
can switch within the same fund house,...

Switching cannot get tax relief.

i have cimb and kenanga.

My bad 😅
I mean if not performing can switch not for tax purposes

My cimb is ok, i don't have kenanga, try ask Grumpy.
Kenanga prs growth?

This post has been edited by ironman16: Dec 2 2020, 03:46 PM

correct. i withdrew those from 2017 and 2018. unfortunately 2019 i invested in amreits which is still making loss now. probably keeping it unless miraculous recovery in next couple of weeks.

on the other hand, lump sum 3k to manulife reit to get tng voucher and take advantage of the low reit price.

Hi Guys! New to PRS here. Thinking to open a PRS account for the tax incentive by year end.
1) Is it better to invest via PPA website or FSM? Any difference?
2) What are the recommended funds for high growth long term?
3) Can non-bumis invest in Islamic funds?
Thanks!