The recent revelation of Budget 2008 states that we are now able to claim RM300 under our individual tax relief for sports and exercise equipment, all in the name of promoting a healthy lifestyle. This is good news, right? 🙂
So now I wonder if this RM300 covers:
- Gym membership fees – I know RM300 is not enough for a whole year, but it could help a tad.
- Branded sportswear – When I exercise I like to look good. When I look good, it gives me motivation to exercise. I can’t look good in baggy t-shirts and frumpy shorts. So I hope the allocation is for sportswear too.
- Shoes – likewise, if the RM300 covers shoes, I am going out to get myself a new pair pronto! Oh, I know I already have a couple of shoes, but one more could never hurt, right? Might as well throw in some socks too, for good measure.
- Treadmills, stairmasters and the like. Although I think RM300 annually will barely get me a few dumbbells and a yoga mat only.
Nevertheless, I welcome this RM300 tax relief with open arms. I’m hoping this amount will be revised (and increased) in years to come, just like the book relief.
Any couch potatoes out there willing to *grant* me their RM300 for next year? … worth a shot, anyway. 🙂
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ooooh, really? I wouldn’t mind them paying some bits of the gym membership, like you said. those memberships are such rip-offs sometimes!
The Giddy Tiger says: Hehe…they are rip-offs cos they FORCE us to go, otherwise we pay them for nothing!
yeah!! i agree with may!
why so good one. RM300 just for exercise. hmm…
The Giddy Tiger says: I couldn’t believe it either. Even though RM300 is not really enough, it does help.
Hmm… does buying a book on exercise count towards tax relief for exercise? LOL! And I’m one of those vainpots who need to look good while working out. No frumpy t-shirts and shorts for me! Hehehe.
The Giddy Tiger says: And THAT’s another similarity we have!
So nice they give back some of your money. You can have mine. 😛
The Giddy Tiger says: I’ll consult with my tax consultant to see if that can be done.
I don’t thin you can claim for sportswear/shoes/memberships. It only states EQUIPMENT.
The Giddy Tiger says: But sportswear and shoes ARE equipment, right?
I thought it is stated “equpment”, need a definition for that. I wonder does a massage chair fall under sports eq?
The Giddy Tiger says: Nah…hardly! A massage chair is relaxation equipment! Heehee!
Oh wow! that’s really cool but of course, hopefully they are not that strict on the usage though.
The Giddy Tiger says: Yep, am keeping my fingers and toes crossed!