This is the only type of investment in Malaysia, which entitled you (individual investor) to personal tax relief.
✖ Not shares
✖ Not unit trust
✖ Not property
💖 It's Private Retirement Scheme (PRS) 💖
Saving for your retirement comes with more savings through PRS Tax Relief. Whether you are newly enroled or looking to top up your account, you will love the PRS Tax Relief of up to RM3,000 annually.
The PRS Tax Relief was specially introduced to encourage Malaysians to save more for their retirement, on top of EPF.
The good news is an individual who makes a contribution to his or her PRS funds is allowed to claim personal tax relief of up to RM3,000 by the Inland Revenue Board of Malaysia.
(Update) This tax incentive is available until assessment year 2025.
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Read our previous articles on PRS here:
How Private Retirement Scheme (PRS) works actually?
What are the TAX benefits of Private Retirement Scheme (PRS)?
Do you understand the PRS Framework and its Lingo?
[PRS Nomination] What should I take note?
3 Different Types of PRS Distributors
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