Skim Simpanan Pendidikan Nasional


Currently, a relief of RM3,000 is given for amounts deposited into the Skim Simpanan Pendidikan Nasional (SSPN) established by the Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) for the education of a child. Do you know that for the years of assessment (YA) 2012 to 2017, the treshold of the relief has been increased to RM6,000? Do you realise that by taking advantage of this increase in the treshold, you will be able to reduce your tax bill by up to an additional RM780? Not taking into consideration the dividends received from SSPN, the tax savings effectively give you a return of up to 26% on your investment!

If you have not done so yet, you have up to 31 December 2012 to reduce your tax bill for YA 2012.

You may increase your deposits at the PTPTN headquarters and at all deposit collection agents listed below:

For information about the SSPN, please visit the official portal of PTPTN HERE.

About Richard

Richard Oon Hock Chye has more than 25 years of experience in taxation and business advice, with particular expertise in Malaysian property law. He began his taxation career with Deloitte Touche Tohmatsu, a ‛Big Four’ accounting firm, before starting his own practice, ConsulNet Tax Services Sdn. Bhd., in 1996. He is currently the National Tax Director of TY Teoh International, one of the leading consulting service providers in Malaysia. It is a member of the MSI Global Alliance, a global network of more than 250 independent legal and accounting firms, in over 100 countries. Richard sits on the board of two companies listed on the Main Board of Bursa Malaysia, as an independent non-executive director. He is also a regular contributor to several magazines and publications, and has shared his tax expertise on numerous occasions with organisations and property developers. As well as being a member of the Malaysian Institute of Accountants (MIA), Richard is a fellow member of both the Association of Chartered Certified Accountants (ACCA) and the Chartered Tax Institute of Malaysia (CTIM). He is a Certified Financial Planner (CFP) and holds a tax agent licence issued by the Ministry of Finance. Richard is also the author of the book, ‘Every Property Investor’s Guide To How To Pay Less Tax Legally’.

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