PUTRAJAYA, Oct 14 — The tax relief to purchase sports equipment and activities, which was extended to cover the cost of sports training fees under Budget 2024 announced by Prime Minister Datuk Seri Anwar Ibrahim yesterday, will be a game changer for the sports industry.
Youth and Sports Minister Hannah Yeoh said this is crucial for parents who invest their savings every month to enable their children to remain active in sports in the hope of becoming future sports champions.
Speaking at a press conference after the national-level National Sports Day 2023 (HSN2023) celebration today, she said investment from parents can also increase income for the sports industry, besides ensuring more Malaysians are active in sports.
Anwar, when tabling Budget 2024 at the Dewan Rakyat yesterday, said the government proposed a special tax relief for purchasing sports equipment and activities of up to RM1,000, which will be extended to cover sports training fees.
Yeoh is confident the RM52 million matching grant announced yesterday to encourage the organisation of prestigious sports events will increase the number of international sports tournaments to be held next year.
“Since this year’s budget came in April, it was a bit late for sports associations to get sanctions from international bodies, causing grants to be used for many community events. However, with this announcement, we aim to host more international tournaments.
“We have also reduced the red tape for hosting sports events and grant applications. This year’s focus is on high-performance tournaments so our athletes can benefit,” she said.
Yeoh also expressed her delight with the RM72 million allocation (a 30 per cent increase compared to 2023) for the Podium Programme, which prepares national athletes for international multi-sports Games.
Anwar also announced a RM20 million allocation, compared to RM5 million last year, for the Road To Gold (RTG) initiative, a programme aimed at boosting Malaysia’s efforts to land its first Olympic gold medal at the Paris 2024 Games.
Commenting on the claims of no allocation to prepare para-athletes at the grassroots level after RM12 million was allocated to strengthen the ecosystem of para-athletes for the international multi-sports Games, the minister said funds for that purpose have been included in the budget for community sports.
Earlier, she participated in the HSN2023, which was officiated by the Prime Minister at the Palace of Justice grounds.
This year’s event is celebrated simultaneously nationwide, with 66 events organised.
“The Prime Minister was happy to see the participation of many families, parents who came with their children and various sports activities held for everyone, including the disabled,” Yeoh said.
— Bernama
