KUALA LUMPUR, Oct 13 — The federal government has today proposed for a specified tax relief for personal purchases of sports equipment and sporting activities up to RM1,000.
Prime Minister Datuk Seri Anwar Ibrahim, in his Budget 2024 speech, said the proposed personal tax relief will also be expanded to cover fees for sport training.
At present, tax-paying individuals are eligible for personal tax relief up to RM500 for purchase of sports equipment, rental or entry fees for sports facilities and registration fees in sports competition.
Separately, Anwar also announced tax cuts of up to 10 per cent from the aggregated income of both individuals or companies contributing to certified institutions or organisations under the Income Tax Act which provide education programmes including sport education.