KUALA LUMPUR: Parents of athletes to pay less income tax?
That could be the case under the 2024 Budget to be tabled in Parliament today.
Sports Minister Hannah Yeoh is expected to introduce a scheme that encourages funding of athletes by family and friends.
Incentivising parents with tax incentives for spending on their children in sports is among the steps that Yeoh is looking at.
"Through giving (tax) incentives to parents who are spending to ensure their kids are involved in sports at a young age, you avoid inactivity, fight obesity at a young age."
Yeoh hopes that with parents involved in funding, it will lessen the burden on national sports associations.
"Every sport needs funding, that's the reality and there is a need for newness in the industry that could be spurred through new initiatives." said Yeoh.