Skim Simpanan Pendidikan Nasional Tax Relief

Tax relief for resident individual.

Skim simpanan pendidikan nasional tax relief. Net deposit in skim simpanan pendidikan nasional total deposit in 2019 minus total withdrawal in 2019 8 000 restricted 12. Sspn adalah skim simpanan yang direka. Net deposit in skim simpanan pendidikan nasional sspn for children. Book purchase maximum rm1 000.

Akaun sspn atau lebih dikenali dengan skim pendidikan nasional sspn i. Does it worth to put saving in skim simpanan pendidikan nasional sspn i. There is a total of rm12 000 tax relief to be claimed. Total deposit in the year minus total withdrawal in the year.

You can claim tax relief for the net deposit in sspn up to the claim limitation if your total deposit for the year 2019 is higher than your total withdrawal. Amount rm 1. Sspn national education savings scheme is a savings scheme for higher education launched in 2004. Should i invest in sspn i previously known as sspn1m for my child s higher education.

I purchase of books journals magazines printed daily newspapers and other similar publications excluding banned publications. What are the returns pros and cons. Year of assessment 2019. Sep 21 2020 what is skim simpanan pendidikan nasional sspn.

Sspn adalah skim simpanan yang direka. Back to our question. Akaun sspn atau lebih dikenali dengan skim pendidikan nasional sspn i. Buka akaun sspn i di maybank.

Post graduate education maximum rm5 000 4. From the income tax saving perspective if you are in the highest income tax bracket of 26 and you deposit rm6 000 into the sspn i account for your children you will enjoy a tax relief of up to rm6 000 x 26 rm1 560. The national education savings scheme sspn i was designed by the national higher education fund corporation ptptn for the purpose of higher education. The skim simpanan pendidikan nasional sspn or the national educations savings scheme is a savings plan introduced by ptptn to enable parents to invest for their children s higher education.

Skim simpanan pendidikan nasional maximum rm3 000 3. As announced in budget 2013 it is proposed that personal tax relief for saving deposits placed with sspn i for the benefit of their children be increased from existing rm3 000 to rm6 000 effective from year of assessment 2012 to 2017. The skim simpanan pendidikan nasional sspn or national education savings scheme is a savings plan specially designed by perbadanan tabung pendidikan tinggi nasional ptptn or the national higher education fund corporation to enable parents guardians to invest for their children s higher education. If you fully utilized the tax relief for the above elaborated 4 areas.

Posted on june 30 2019 june 30 2019. To continue encouraging parents to save up for the high cost of education for their children the tax relief of up to rm8 000 for nett savings of skim simpanan pendidikan nasional sspn will be extended until ya 2022 stay up to date with our other budget 2021 articles here.