Tax questions? You ask lah!
Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!
Q:
I have 2 children, if my husband and I open an SSPN account for each child separately, can both of us claim the tax relief of RM8,000 separately in our tax return?
A:
Can, as long as both the husband and wife have contributed at least a net deposit of RM8,000 each, both the husband and wife can claim the tax relief of RM8,000 each.
Q:
I have a 22-year old unmarried child, he is working during weekday with a monthly salary of RM 1,200. He is attending a skill training programme in a college during weekends. Am I eligible to claim the RM 8,000 child relief?
A:
If the total income of the child exceeds RM8,000 in a year, the parent is not eligible for child relief anymore. Also, if the child is 18 years old or above, and not studying full time, the parent is also not eligible for child relief.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru
P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!
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