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  • Writer's pictureNirosh Nathan

Empowering a Healthier Malaysia: Budget 2024’s Boost for Sports and Fitness



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Sports Tax Support In Malaysia

In Malaysia's Sports Tax Budget 2024, several significant measures were announced that impact the sports sector, particularly benefiting youth sports development, personal trainers, fitness enthusiasts, and those aiming to stay active.


Key among these measures is the introduction of increased personal tax relief for sports-related expenditures. The relief has been raised to RM1,000 and now comprehensively covers not only the purchase of sports equipment but also fees for sports training and activities. This move aims to make sports more accessible to the public, encouraging active lifestyles and greater participation in sports activities​​​​.


Additionally, the budget has allocated RM72 million towards Malaysia's Olympic gold quest for the Paris 2024 Games. This funding is part of the Road to Gold initiative, which supports the athlete podium event ecosystem. It demonstrates the government's commitment to not only grassroots sports participation but also high-performance sports on an international level​​.


The Youth and Sports Ministry has also proposed tax exemptions specifically for sports training fees, reinforcing the government’s support for professional sports training and development. This is expected to provide substantial financial relief for those investing in sports training either for themselves or their family members​​.


These initiatives are part of a broader strategy by the Malaysian government to boost the sports industry and promote a healthier, more active lifestyle among its citizens. The increased financial support and incentives should aid personal trainers and fitness professionals in expanding their services and clientele. Additionally, the emphasis on funding elite sports and enhancing training facilities is poised to elevate Malaysia's standing in international sports.


Regards,

Nirosh Nathan,

Founder Move X Health.


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