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 Tax Rebate for Sports and Exercise Equipment, What is covered?

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kianweic
post Apr 30 2008, 11:01 AM

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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  drool.gif
*
I think you can only get deduction from that on 2009 when you do your tax return for 2008.

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
kianweic
post May 3 2008, 08:06 AM

Work hard, play hard.
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Joined: Sep 2007
From: Jakarta


I think it should be like RM2k of tax relief. RM300 maybe just enough to buy a set of dumbbells and some sport equipments.

Definitely not enough to buy a treadmill or crosstrainer machine.

Would be nice to have my own set of cardio equipments and free weights equipment at home, can work out early in the morning at home before going to work.


 

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