Youth and Sports Ministry working on personal tax relief for sports training

The Youth and Sports Ministry is proposing a personal tax relief for people who send their children for sports training or participate in such activities themselves. The Minister, Hannah Yeoh, stated that this is one of the main focuses for the 2024 Budget and has been presented to the Finance Ministry. The tax relief aims to encourage parents to send their kids for sports training, which would contribute to sports development in the country. Yeoh mentioned that the engagement session with the Finance Ministry is still ongoing and they have expressed their intention regarding the tax relief for sports training. Currently, tax relief is only given for purchases of sports equipment. The Minister added that they want the tax relief to cover parents or anyone who spends on sports training.

Yeoh disclosed this information while attending the Sabah Sports Industry Expo 2023, where she launched the event. Datuk Ellron Angin, the Sabah Youth and Sports Minister, was also present. Additionally, Yeoh emphasized the difficulty faced by sports associations and schools in accessing funds to participate in sports competitions. Many of these organizations rely on sponsorship, and she urged private companies and individuals to contribute more to support sports development in the country. Yeoh expressed appreciation for these contributions and suggested that money be channeled to the Parents Teachers Association (PTA) for sports. She believes that this issue has also garnered attention from the Education Ministry in empowering the holding of the National School Sports Council (MSSM) events.

During the event, Yeoh awarded sports matching grants totaling RM774,000 to 21 Sabah sports associations. She was informed that 30 industry players from various sectors, such as sports tourism, sports medicine, and sports education, participated in the two-day Sabah Sports Industry Expo 2023. The Minister stated that the sports industry contributes approximately RM14 billion, or 0.9% of the nation’s gross domestic product, and expressed optimism that this figure could increase with more sports activities and increased participation from the public.