Hannah Yeoh says Parents Can Now Get Tax Relief For Their Children's Sports Training

The Youth and Sports Ministry hopes the tax relief for sports training will spur the sports industry in the country and inculcate a healthy lifestyle. Last October, the government proposed a special tax relief for the purchase of sports equipment and activities of up to RM1,000 which will be extended to cover sports training fees. Sports Minister Hannah Yeoh said today the tax relief will be extended to cover expenses related to sports training for oneself, spouse, or child. She said the training fee tax exemption will cover 103 types of sports gazetted under the Sports Development Act 1997 (Act 576).

 

“This is a step to promote a healthy lifestyle and a reward for good parenting. Before this, the feedback we received from parents was that they spend money to buy sporting equipment but they don’t use it much,” said Hannah in a press conference in Putrajaya. “Now parents can get tax relief for sports training for their children and this also can spur the sports industry where former athletes can turn into coaching as a career. “This will expedite the move to make sports culture in the country and encourage parents to involve their children in sports.Among the types of individual tax relief related to sports expenses that can be claimed are the purchase of equipment for sports activities listed in the Sports Development Act 1997 [Act 576] excluding two-wheeled motorbikes. The tax relief includes gym membership fees or training fees for “one-off” or structured series training such as classes, clinics, courses and workshops. It also covers rental or entrance fees to any sports facilities, as well as registration fees to participate in any sports competitions. Yeoh reminded the public to check whether sports-training providers comply with the set conditions and eligibility criteria. She said the training-providers must be associations, sports clubs or companies registered with the Sports Commissioner or incorporated under the Companies Act 2016. The public need to check whether the coaches or the training they undertake are registered properly. They cannot claim tax relief if they train or are coached by unregistered coaches or entities,” she added.

Courtesy from – New Straits Times

https://www.nst.com.my/sports/others/2024/04/1040020/hannah-yeoh-says-parents-can-now-get-tax-relief-their-childrens-sports