The Youth and Sports Minister, Hannah Yeoh declared last week that individuals, their spouses, or their children would be eligible for a special tax rebate of up to RM1,000 to pay costs associated with sports training.
According to Yeoh, the tax break is an expansion of the current RM500 sports-related exemption, which covers the cost of competing in sports, renting out sports facilities, and buying equipment for sports. Yeoh stated that only the 103 sports listed in the Sports Development Act 1997 (Act 576) will be eligible for the tax exemption for sports training.
The following sports are included in Act 576:
Aikido
Aquatics
American football
Weightlifting
Badminton
Darts
Basque pelota
Sailing
Cycling
Canoeing
Skiing
Baseball
Biathlons
Billiards
Bodybuilding
Boccia
Handball
Netball
Basketball
Football
Volleyball
Bowling
Lawn bowling
Boules
Flying disc sports
Capoeira
Chess
Checkers
Bridge
Dodgeball
Fistball
Gasing
Gymnastics
Goalball
Golf
Wrestling
Arm wrestling
Hapkido
Hockey
Ice stock sport
Judo
Jujitsu
Kabaddi
Karate
Fitness
Kenpo
Kendo
Korfball
Cricket
Curling
Lacrosse
Tower running
Fencing
Jump rope
Surfing
Skating
Archery
Hiking
Rowing
Shooting
Athletics
Orienteering
Paintball
Cheerleading
Modern pentathlons
Dragon boat
Pickleball
Table tennis
Polo
Rugby
Recreational
Roundness
Sambo
Sepak takraw
Silambam
Silat
Squash
Softball
Stacking sports
Motorsports
Powerboating sports
Underwater sports
Equestrian sports
E-sports
Sledding
Fishing
Dancesport
Traditional sports
Air sports
Yoga
Taekwondo
Lion dance
Tug of war
Tchoukball
Tennis
Teqball
Throwball
Boxing
Torball
Triathlons
Vovinam
Woodball
Wushu
The government announced in October of last year a special tax break of up to RM1,000 for the purchase of sporting goods and activities. This relief would also apply to the cost of sports training. In addition to encouraging the sports business, where former athletes can pursue careers as coaches, parents can receive tax breaks for providing their kids with sports training.
“This will expedite the move to make sports culture in the country and encourage parents to involve their children in sports,” Yeoh added. One of the sports-related individual tax relief options available to claimants is the acquisition of sporting goods as specified by the Sports Development Act 1997 [Act 576], except for two-wheeled motorbikes.
The tax break covers training costs for “one-off” or structured series training, such as workshops, classes, clinics, and courses, as well as gym membership fees. It also includes registration costs for sports contests, as well as rental or admission fees to any sports facilities.
Yeoh urged the general public to confirm that sports training providers adhere to the established parameters and qualifying requirements. According to her, the organizations, sports teams, or businesses offering training must be either formed under the Companies Act of 2016 or registered with the Sports Commissioner. “The general public should verify that the trainers or the training they receive are appropriately registered. If they receive coaching or training from unregistered coaches or businesses, they are not eligible for tax relief,” she informed.
Source : SAYS
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