Girl power just took on a whole new meaning! ⛹️♀️🦸♀️ In an inspiring move to promote more participation of women in sports, Kementerian Belia & Sukan (KBS) introduced a tax exemption initiative aimed at encouraging families and individuals to invest in sports equipment and activities for women!
Thanks to this initiative by Kementerian Belia & Sukan, individuals and families can get up to RM1,000 worth of tax exemption for expenses on sports equipment and activities!
In a move to elevate Malaysian women in sports, this initiative was introduced and will be especially ideal for families who want to encourage their daughters to become female athletes in the future!
To know more about how this move can assist our future superwomen in sports, read on to find out what this new policy entails:
Here’s how you or your family member can qualify for this tax exemption
Designed to ease the financial burden and encourage the development of women in sports, the tax exemption under this policy will be eligible for these expenses:
- Purchases of sports equipment related to sports listed under the Sports Development Act 1997 (excluding motorised bicycles)
- Rental or entry fees to any sports facilities
- Registration fees for any sports competitions
- Gym membership or sports training fees
“But which sports activities are eligible for tax exemption?”
Wanna know what kinds of sports activities qualify for this exemption? Here are the specific criteria laid out by KBS for structured and recognised sporting endeavours:
- Exercise sessions that are one-off or held in a structural series such as classes, clinics, courses, workshops, and the like
- The type of sport is listed under Schedule 1 of the Sports Development Act 1997
- Training providers must be from an association, sports club, or company that is registered under the Sports Commission (Pesuruhjaya Sukan) or incorporated under the Company Act 2016
- Expenses for sports training fees must be provided in the form of payment receipts (including receipts that are generated online)
Here’s why these tax exemptions are important for our women athletes
For a bit of context on this initiative, women have historically faced countless challenges in sports from societal expectations to financial barriers. The latter issue can be a particularly big hurdle, as the cost of equipment, facilities, and training can be quite prohibitive for female athletes.
Acknowledging these obstacles, KBS is taking on this huge step to help make sports a more accessible venture for Malaysian women! With less financial burden in the way, KBS hopes to foster an inclusive environment where women can excel in the pursuit of their athletic goals, regardless of age or level of experience.
Whether it’s a young girl dreaming of repping Malaysia or a working girlboss who wants to stay active, this initiative opens the door for women across the country to step up and engage in sports!
Plus, as more women take part in sports and physical activities, communities can develop, women will be able to sharpen their leadership skills through sports and Malaysia will be well on its way to nurturing future female sports icons. And ultimately, this initiative brings us closer to a healthier Malaysia by encouraging and reducing the barriers to physical activity and sports participation for the rakyat.
Find out how these tax exemptions by KBS can benefit you or the women in your family who are pursuing sports! For more info on all things related to Kementerian Belia & Sukan, visit their website and follow them on their socials:
