Is it good if I advise my wife to take PRS for tax relief purpose? Currently she worked / agent for a company and dont have constant income. I ask her to declare her income to strengthen her income prove as she dont have any epf. Is it helping?

If want to contribute to EPF can do the self contribution
http://www.kwsp.gov.my/portal/en/web/kwsp/...lf-contribution

with EPF can have tax break too
PRS is added tax break.
just do bear in mind that what ever goes into those...have T&C when one needs to withdraws.

Thanks. Very helpful.

Another question, if my wife done contribution to epf, another contribution to prs would increase amount of tax relief?

see note 21 & 23...
note 11 can consider too
http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1

Thanks for the help. Difficult to apply loan as my wife dont have epf. Want to pay tax, but worried its amount too much. Thanks again. very helpful

You can buy AIA PRS if you want to have exposure to international stock market

something to note, i'm not bank staff... just my understanding...

EPF alone will not be sufficient proof of income as self contribution (as in your wife's case) is possible.

which is why when applying for credit facility, they ask for payslip, EPF statement and BANK STATEMENT. for normal salaried employee, these three documents will support each other.

what is the best PRS scheme? what about prudential prs?

List of PRS Providers approved as at 25 April 2013
http://www.sc.com.my/list-of-prs-providers/

Best? how to define? Best Return? Best resilience? Best Suits you? etc....

PRS funds performance data...from PPA
http://www.ppa.my/getting-started/funds-re...nd-performance/

just an added note:
Investment involves risk. The price of securities may go down as well as up, and under certain circumstances an investor may sustain a total or substantial loss of investment.
Past performance is not necessarily indicative of the future or likely performance of the fund. Investors should read the relevant fund's prospectus for details before making any investment decision.
An Investor should make an appraisal of the risks involved in investing in these products and should consult their own independent and professional advisors, to ensure that any decision made is suitable with regards to their circumstances and financial position.

This post has been edited by T231H: Mar 29 2015, 07:25 PM

PRS Banyak good!




For tax relief!

This post has been edited by Kaka23: Mar 30 2015, 12:43 AM

Can someone help me on this, I interested to ask my mom to invest in PRS due to the tax rebate, but based on my mom salary n after calculate, how much refund you can get from 3k investment not according to your tax bracket..here the calculation for discussion

before PRS
-------------
Salary 90k
-rebat without PRS = 20k ( Kwsp,insuran, child, zakat )

taxable income = 70k

according to LHDN tax bracket for 2015 onwards - http://www.hasil.gov.my/goindex.php?kump=5...it=5000&sequ=11

first 70k = RM5600

Tax need to pay = Rm5600

After invest in PRS
----------------------
Salary 90k
-rebat with PRS = 23k (Kwsp,insuran, child,zakat + add 3k for PRS)

taxable income = 67000
tax calculation ( 50k - 70k tax bracket)
First 50000 = RM2,850
next 17000 = RM 2720

Tax need to pay = RM5,570


Difference( before - after ) RM5600 - Rm5570 = Rm30 !!

only RM30 difference?? so seem like it not worth it for my mom to invest in PRS right..better go for the normal mutual fund then.

My tax calculation correct or not :-P

I believe your mum won't enjoy significant tax saving because taxable number before and after PRS relief falls within the same tax bracket (MYR 50001 - 70000).

just some consideration
PRS has lower initial investment than most other uts
PRS has 0% sales charges
PRS has withdrawal restriction

save 480. not 30

This post has been edited by yong417: Apr 2 2015, 02:04 PM

tax rate table....redo the maths?

This post has been edited by T231H: Apr 2 2015, 02:34 PM


Attached thumbnail(s)

Owh...My Bad, I put wrong value for the 1st 50k, thank you for correct me..now it more sense to propose my mom to invest in PRS.

Thanks

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