I still got 2k to go to invest in PRS to get maximum tax relief.

So what's your plan?

Will invest 2K in month of December.

You already invest Max amount that Ethan titled for tax relief?

Ethan? Which Ethan?

You meant entitled?

PM me if interested to invest into PRS for tax relief or RM500 government incentive.

0% sales/ upfront charge and RM50 free investment units.

Haha.. Yes entitled

The auto spell thing.. Didn't double check it..

Come, come... open mouth wide wide...Big Spoon feeding is here!

Xuzen

Just read this recently about PRS, PRS seems like not bad

http://loanstreet.com.my/learning-centre/p...cheme-explained

Not bad compared to what?

1. PRS youth incentive is once-off
2. Basically if you invest in unit trust and/or PRS you have the similar flexibility.
3. Tax relief… it’s only that obvious in tax savings if and when you are in the higher income tax bracket.
4. Due to the limitations of withdrawal similar to that of EPF, one should take note that money going in PRS though provide savings in tax… those money… one cannot touch until one is aged 55.

[quote=adele123,Nov 17 2014, 02:21 PM]
Not bad compared to what?

1. PRS youth incentive is once-off
2. Basically if you invest in unit trust and/or PRS you have the similar flexibility.
3. Tax relief… it’s only that obvious in tax savings if and when you are in the higher income tax bracket.
4. Due to the limitations of withdrawal similar to that of EPF, one should take note that money going in PRS though provide savings in tax… those money… one cannot touch until one is aged 55.

[/quote

Thx for ur info. I am not making comparison,just merely look at the characteristic of PRS which seems like quite good for retirement

The attractive point is the tax relief if you are at the higher tax bracket........

If you can live without that RM3k annually, its a great deal.....

Say at 24 % (more than 100k taxable income annually), so annually, instead of giving RM720 to the government as tax, you keep that RM 720 as retirement fund. Of course the remaining RM 2280 can't be touched till you are 55 years old.....

Anyway, the tax relief just applicable till 2022 only if I'm not mistaken which you can stop contributing then.

This post has been edited by neospider: Nov 18 2014, 10:17 AM

Tax relief of up to RM3,000 per annum will be applied on taxable income, for individual contributions made to the PRS for the first 10 years from assessment year 2012.

Til YA2021

Nobody is forcing anybody to contribute. PRS is a voluntary scheme.

This post has been edited by David83: Nov 18 2014, 12:35 PM

Till year 2021 then...

can i set my PRS to 40 years old, EPF at 60 years old ?

Set? What you meant by "set"?

EPF statutory age is still at 55.

put retirement age for PRS at age 40, but continue working for EPF

PRS is the same as EPF ~ you can only withdraw all your money at the age of 55.

hi...any prs agents here... i want to invest in prs...
because i already got access money from surrender my insurance..

Alternatively, you can try using Fundsupermart for prs. You will be entitled for a RM30 starbucks card if you deposit RM3k in one go with them before end of this month.

owh..
how to apply the youth incentive rm500 for person below 30 y.o by using fundsupermart... sorry for the noob question