Income Tax Relief on SSPN-i Plus
The income tax relief benefit applies to depositors of SSPN-i Plus who can be the parents or legal guardians:
- Skim Simpanan Pendidikan Nasional deposit: up to RM6,000
Nett deposit in SSPN-i Plus account opened for your children (including adopted children). Nett deposit equals to total deposit made in the current assessment year LESS total withdrawal made in the current assessment year, if any.
- Life insurance and KWSP (EPF) : up to RM6,000
Total contribution for takaful coverage of SSPN-i Plus package. RM6,000 limit includes other Takaful contribution, life insurance premium and contribution for Kumpulan Wang Simpanan Pekerja (KWSP).
Note: Amount of tax relief is subject to the terms and conditions of the Inland Revenue Board (IRB). Eligibility and actual savings may differ from an individual to another individual.
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