completed my income tax submission for FY2024!

Yesssss!! Proudly announcing that I checked off one of my to do for this long weekend break!

For those who hasn't, please get it done at https://mytax.hasil.gov.my/. For those new to income tax filling, you can reference RinggitPlus' post on how to fill your income tax.

Just some personal musing, I've never taken notice before but this time I am interested with "Gift of money for the provision of library facilities or libraries"

The one thing I missed for FY24 is the contribution to EPF for voluntary schemes. If I have contributed the max RM4,000, I could get a rebate of approximately RM700!

And this is on top of the rebate you can get for the RM3,000 PRS contribution!

I just checked and saw this option was available in prior year (FY23), my tunnel vision ar. 

Initially before I absorbed this information, I was contemplating of just shifting my PRS funds to EPF self-contribution. Reason being I thought the returns for PRS when compounded over time will probably perform better than PRS since the latter prices do fluctuates and the high fees.

Liquidity for both is quite low-to-moderate _ EPF you can only get the percentage allocated to Account 3 while in PRS, depending on your broker, you'd be charge a percentage of fee to withdraw.

Here is the latest screenshot and it looks nice because they're in the positive but they do go to the negative too.

One of the fund has contribution reinvestment.

My other contribution that doesn't have distribution nor distribution reinvesment.

In another account, my rather underperforming PRS. Booooo...

So in conclusion, yes, I may consider to contribute into BOTH these buckets for my FY25 income tax rebate and for my future self retirement sake.

Which section of the Income Tax form interests you? Have you all max out your rebates?