KUALA LUMPUR, March 28 — The Inland Revenue Board's (LHDN) decision to end tax relief for National Education Savings Scheme (SSPN) depositors will pose a huge financial...
KUALA LUMPUR, March 28 — The Inland Revenue Board's decision to end tax relief for National Education Savings Scheme depositors will pose a huge financial impact on the middle-income families, Muar MP Syed Saddiq Abdul Rahman said today.
"The SSPN savings are not meant for buying luxurious items or property, but meant for the education of our children. Just look at the year 2021, 45,000 students became dropouts, last year there were 390,000 youths who didn’t want to further their studies after completing their SPM. He stressed that if the government does not review or reconsider this decision, the number of dropouts will become worse.
"That’s more than RM50,000. If we look at middle-class households, at least they will carve out five years before their child enters university, and that is about RM40,000 which that can spend for their child’s education,” he said.
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