6th November 2020 - 1 min read
Finance Minister Tengku Zafrul Aziz has announced that extension of two tax reliefs in particular: for Skim Simpanan Pendidikan Nasional (SSPN) savings and Private Retirement Scheme (PRS) contributions.
“To encourage saving for retirement, the RM3,000 tax relief on Private Retirement Scheme (PRS) contributions has been extended until YA 2025,” said Tengku Zafrul Aziz at the tabling of Budget 2021 today.
“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.”
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If no tax relief given for sspn this pyramid scheme will fall very quickly.