Simpan Sspn Contributors To Continue Enjoying Tax Relief Till Assessment Year 2024

KUALA LUMPUR, May 10 (Bernama) -- National Education Savings Scheme (Simpan SSPN) depositors will continue to enjoy income tax relief of up to RM8,000 for the assessment year 2024 if they carry on saving with the scheme.

National Higher Education Loan Fund (PTPTN) chairman Datuk Norliza Abdul Rahim said in a statement today that as depositors of Simpan SSPN, parents qualify for tax relief of up to RM8,000 a year for each child whether they filed their taxes separately or together.

“Simpan SSPN is a special incentive to depositors as it’s the only savings product that offers different advantages compared to other saving schemes,” she said, adding that the scheme has recorded a total of RM17.75 billion in deposits from 6.32 million accounts up until March 31, making it the main choice for Malaysians looking to save for higher education.

Also to encourage more depositors, PTPTN will be holding a series of WOW! Kasih Simpan SSPN Lucky Draws in conjunction with Mother’s Day, Father’s Day and Teacher’s Day.

The campaign, from May 1 to June 30, is open to all depositors of Simpan SSPN Prime and Simpan SSPN Plus.

“PTPTN will be offering great prizes, including cash totalling RM100,000 for 181 winners, with the grand prize of RM10,000 for one lucky winner, and 180 consolation prizes for the other 180 winners,” she said, adding that further information is available on the PTPTN’s official website www.ptptn.gov.my.

-- BERNAMA