Deputy finance minister Steven Sim said the government has also compiled feedback from all parties regarding the extension of the tax relief until the year 2024.

“I have also heard of suggestions to extend the tax relief beyond 2024.

“Next year, we will look at the policy again and get feedback from all quarters, including the opposition, before making a decision,” he told Parliament during the second and third reading of the Finance Bill 2023 which was passed today.

The National Higher Education Fund Corporation (PTPTN) introduced the scheme in 2004 with the ultimate goal of reducing student debt.

It was previously reported that the tax relief will be up to RM8,000 for annual net savings in SSPN.

Meanwhile, the Finance Bill 2023 will enforce measures announced in Budget 2023 and improve the tax administration in areas that needed amendments in related Acts.

The amendments included widening the tax relief of up to RM4,000 for the medical treatment of children with disabilities, such as those suffering from autism and attention deficit hyperactivity disorder (ADHD).

“Parents can also claim tax relief of up to RM6,000 for the purchase of support equipment provided the child is registered with the community welfare department,” he added.