PUTRAJAYA - The implementation of tax exemption for sports training costs or fees is one of the priorities of the Ministry of Youth and Sports (KBS) through the Budget 2024 that will be tabled this Friday.
Youth and Sports Minister Hannah Yeoh said her ministry has discussed the matter with the Ministry of Finance for consideration so that those who incur sports training costs or fees can enjoy tax relief.
"Previously, tax exemptions were given to individuals who purchased sports equipment, but we hope it will also be given to parents paying for their children's sports training.
"With this incentive, it will encourage parents to send their children for sports training and the money saved from tax relief can provide job opportunities for coaches while producing great talent in sports.” Hannah said this to reporters after launching the 2023 U.S. Kids Golf Malaysia Local Tour tournament at Menara KBS, here today.
Hannah also hopes that sufficient allocation can be channelled to KBS through the budget this time.
"If we want to excel in sports, we need to invest and the Asian Games have proven that we need money if we want to excel, so I hope there will be adequate allocation for youth and sports in the budget,” she said.
In the Budget 2023 tabled last February, the government allocated RM324 million to KBS for training programmes and sports facilities. - BERNAMA