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 EPF DIVIDEND, EPF

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rapple
post Jan 19 2017, 03:12 PM

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QUOTE(patrickthissen @ Jan 19 2017, 03:09 PM)
Thanks for the fast feedback.

Let say a person monthly epf contribution is 2k (employer+employee)
Acc 2 will be starting the saving again from zero with monthly 2k *30% = 600 ?

Correct?
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Yes.
rapple
post Feb 17 2017, 09:23 AM

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QUOTE(keane04 @ Feb 17 2017, 09:10 AM)
SSPN is not a form of UT?
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No.

SSPN is an educational saving account for children offered by PTPTN itself and protected by Government.
rapple
post Feb 17 2017, 10:06 AM

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QUOTE(keane04 @ Feb 17 2017, 09:52 AM)
I tot anything without guaranteed return is a form of UT with different variations and in this case with some restriction on withdrawing freedom and with tax rebate.

can i do this ?

open an account for my kid;

2017 deposit 6000 (so i get tax rebate about 1.4k)
2018 deposit 6000 (so i get tax rebate about 1.4k)
2019 withdraw all 12k or 11.5k (no tax rebate for this year)
2020 deposit 6000 (so i get tax rebate about 1.4k)..... so on and so forth
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Tax relief is given on net savings only.

Tax relief of RM6k is till YA2017. YA2018 onwards is RM3k.

YA2020 You need to deposit 18k minus previous withdrawal 12k = 6k net savings (assuming tax relief of 6k is further extended by gov.)
rapple
post Mar 26 2020, 04:25 PM

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QUOTE(Mervin1234 @ Mar 26 2020, 04:04 PM)
I have done an investment transaction via the EPF Members Investment Scheme (MIS) on the 24 Mac 2020. But until today it has not reflected on the purchase of the unit trust i have selected, so i want to know how long does it take to buy the unit trust upon my submission.
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EPF office also no work.
rapple
post Mar 26 2020, 08:32 PM

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QUOTE(Mervin1234 @ Mar 26 2020, 04:35 PM)
ohhhhhh, i thought this is all done by the system, didn't think need someone to actually place the purchase with the unit trust company.

have you buy units trust using your epf via MIS before ? need to double confirm if you have done this before.
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You still need them, to process your application.

Whether there's a need for a thumb print verification I'm not sure.

Even e-withdrawal to reduce housing loan still need thumb print verification at their counter.
rapple
post Dec 5 2020, 10:14 AM

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I'm going to withdraw 10k since I have not been contributing for a year plus. Going to put it in SSPN-i & PRS for YA2021 tax relief.

This post has been edited by rapple: Dec 5 2020, 10:17 AM
rapple
post Dec 5 2020, 07:19 PM

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QUOTE(TheEquatorian @ Dec 5 2020, 05:35 PM)
Just make sure you are eligible for the deduction in SSPN-i and the fees from the PRS makes sense.
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And why would I contribute if there's nothing to be gained.
rapple
post Dec 5 2020, 11:11 PM

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QUOTE(TheEquatorian @ Dec 5 2020, 09:01 PM)
For instance the SSPN-i deduction requires the person to be a parent of underaged children. You mentioned that you have not contributed over a year, you would need to have a taxable income to make deductions on PRS, SSPN-i etc. Good luck!
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No epf contribution doesn't mean no income. .

And its for YA2021 what it really means, I am already planning for 2021 while many still trying to max out 2020 tax relief.
rapple
post Mar 16 2021, 06:47 PM

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I no longer contribute epf after starting my own business in 2019. I just take whatever they allow so that this money is not locked up till 55 yo.
rapple
post Mar 18 2021, 10:05 PM

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QUOTE(MUM @ Mar 16 2021, 06:50 PM)
thumbsup.gif for you knew how to generate returns > epf rate  thumbsup.gif
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no la.. just take out for liquidity purpose only.. no point park there up to 55 when i no longer contribute to EPF.

confused.gif why so tense on epf to sspn. iSinar / iLestari is a one off thing not like we can do that every year. initially i thought i would do the same for tax saving purpose but since company need expansion might as well used it for my company

This post has been edited by rapple: Mar 18 2021, 10:14 PM
rapple
post Mar 29 2021, 12:45 PM

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QUOTE(yklooi @ Mar 29 2021, 10:23 AM)
Since statutory required contributors cannot say no or opt out,... "Que sera sera, what ever will be will be"
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You can choose when you are self employed.
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