QUOTE(Dannyl @ Apr 30 2008, 10:42 AM)
Hi guys,
Let me quote: You will get a deduction of RM 300 for each year of assessment for the purchase of sports and exercise equipment for any sports activities defined under the Sport Development Act 1997.
(Source: http://e-malabari.net/finance/reducetax1.htm, point #9)
This starts in 2008. So my question is, what kinds of equipment are covered? How about these:
Sports clothing (including shoes; maybe not, otherwise we'll all be wearing Nikes)
Sporting goods (mats, dumbbells, racquets, etc)
Exercise equipment (benches, treadmills, stationery bikes, etc)
Electronic equipments (heart-rate monitors, etc)
Too bad they don't cover health supplements
I think you can only get deduction from that on 2009 when you do your tax return for 2008.Let me quote: You will get a deduction of RM 300 for each year of assessment for the purchase of sports and exercise equipment for any sports activities defined under the Sport Development Act 1997.
(Source: http://e-malabari.net/finance/reducetax1.htm, point #9)
This starts in 2008. So my question is, what kinds of equipment are covered? How about these:
Sports clothing (including shoes; maybe not, otherwise we'll all be wearing Nikes)
Sporting goods (mats, dumbbells, racquets, etc)
Exercise equipment (benches, treadmills, stationery bikes, etc)
Electronic equipments (heart-rate monitors, etc)
Too bad they don't cover health supplements
Sorry I might be wrong, I will need to have a look on the 2007 and 2008 Tax Budget. Worst of all it's in the boxes.
Cheers