Hi folks, recently my mate recommended me this SSF for tax reduction. 

https://knowledge.bualuang.co.th/knowledge-base/supersavingfundssf/

 

My understanding is that maximum u can invest is 500kb, in return u will get tax reduction around 15% of 500kb, but they have this tax rate according to ur income. 

Say u get 1mb a year, initial 300kb is tax free, onwards, 15~20% etc. 

But need to be invested for min of 10 years... 

One needs to wait for 10 years for invested amount 500kb to mature. 

 

Anyone has experience or though on this scheme? 

I'm paying like 100kb on annual income tax. 

 

Edited May 19, 20215 yr by villageidiotY2K

Yes, I have held CG-LTF for about five years, the tax rules at the time were seven years not ten. CG-LTF did very well for many years but was hit badly when covid struck and also the Thai Airways debacle. my holdings were up 15% and then went down 25% quite quickly. When they reached par once again I withdrew one third of my holdings which meant I had to pay about 3% tax....that's profit made over the  period. I don't use the tax deduction element because I am retired. What I would say however is that before you begin, you need to have confidence in a) the equities market and b) the Thai economy.

I think they canceled the ltf 7 years and now it's called ssf 10 years. 

 

So suppose uve put 500kb max in this scheme. U gotta wait for 7yrs to mature? 

 

If u withdraw before 7 yrs, u get taxed for that withdrawed amount? 

1 minute ago, villageidiotY2K said:

I think they canceled the ltf 7 years and now it's called ssf 10 years. 

 

So suppose uve put 500kb max in this scheme. U gotta wait for 7yrs to mature? 

 

If u withdraw before 7 yrs, u get taxed for that withdrawed amount? 

Yes, yes and yes.

OK, you are dismissed