Sending your child to the nursery will receive tax relief of RM3000.
Tengku Zafru, the Minister of Finance, announced in the 2022 budget that the government will extend the tax relief benefits that children can enjoy in nurseries, that is, will be extended to 2023.
To reduce the burden of parents, the government has decided to allow parents to enjoy tax relief of up to RM3000 when they send their children to nurseries. Parents need to keep the nursery receipts for tax reporting purposes.
It is best to keep the receipt for at least 7 years, so that when you check the accounts at the tax bureau, you have evidence to prove that you really sent your child to the nursery.
In addition to sending a child to a nursery to enjoy tax relief, opening an SSPN for the child can also enjoy tax relief. Depositing SSPN can get up to RM8000 tax deduction.
Skim Simpanan Pendidikan Nasional (SSPN), which is the Education Savings Fund. This is an education savings fund launched by the government to encourage people to save. There are two types of funds under SSPN, namely Simpan SSPN Prime and Simpan SSPN Plus. The first is a pure education savings fund, and the second is an education savings fund that includes insurance. Depositors can enjoy interest every year.
