KUALA LUMPUR – The Youth and Sports Ministry has extended the proposed tax exemption initiative to include sports training fees, alongside sports equipment purchases and activities, Hannah Yeoh announced.
Initially introduced as part of the Budget 2024 by Prime Minister Datuk Seri Anwar Ibrahim last October, the initiative aims to offer tax relief of up to RM1,000 per individual.
With the incorporation of sports training fees, the ministry anticipates a boost to the nation’s sports industry.
This expansion allows individuals to seek tax exemption for various payments, including facility rentals, participation fees in events like marathons, and registration fees for other sporting activities.
Furthermore, membership fees for gyms and sports training expenses will also be eligible for tax relief, contingent upon the registration of associated facilities and clubs with either the Sports Commissioner or the Registrar of Companies.
However, the minister said it is important to note that tax relief for sports training fees applies exclusively to the 103 sports types specified under the Sports Development Act 1997 (Act 576).
“This special category for sports, which includes sports training expenses of up to RM1,000, allows individuals to allocate these funds for themselves or their children.
“This initiative, effective from 2024, empowers individuals to invest in sports training while keeping all relevant receipts for tax filing with the Inland Revenue Board,” said Hannah.
Hannah also emphasised the initiative’s potential to encourage parental involvement in sports, marking a significant step toward positioning Malaysia as a sporting nation.
However, she urged parents to exercise caution when selecting sports coaches and associations, ensuring they are duly registered with the appropriate regulatory bodies.
“My primary concern lies with coaches. Parents must verify whether coaches are affiliated with registered sports associations or clubs recognised by the Sports Commissioner or Registrar of Companies.
“To ensure long-term standards and safety, we aim for all coaches to obtain certification from the National Sports Institute, thereby ensuring compliance with the regulations set by their respective sports associations,” she added. – April 19, 2024