THE tax relief for sports activities and the purchase of sports equipment, which was extended to cover the cost of training fees under Budget 2024 that was announced by Prime Minister 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 celebration in Putrajaya today, she said investment from parents can also increase income for the sports industry, besides ensuring that 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 the purchase of sports equipment and activities of up to RM1,000 and which would be extended to cover sports training fees.

Yeoh is confident that the RM50 million matching grant announced yesterday, to encourage the organisation of prestigious sports events, will increase the number of international 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 but, with this announcement, we are aiming 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 that our athletes can benefit,” she said.

Yeoh also expressed her delight with the allocation of RM52 million (a 30% increase compared to 2023) for the Podium Programme, which prepares national athletes for international multi-sports competitions.

Anwar also announced a RM20 million allocation, compared to RM5 million last year, for the Road To Gold initiative, a programme aimed at boosting Malaysia’s efforts to land its first Olympic gold medal at the Paris 2024 Games.

Yeoh earlier participated in the National Sports Day 2023, which was officiated by the prime minister at the Palace of Justice grounds in Putrajaya.

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,” she said. – Bernama, October 14, 2023.