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.