Tax deductions proposed for companies contributing to sports development

ALL contributions made by private companies to registered sports associations should enjoy tax deductions, sports entrepreneur Dr Gregory Hii has proposed.

He observes that currently, the tax deductions are limited to contributions from the Finance Ministry (MoF) to approved institutions.

“This is not fair and it will discourage private companies to make contributions to sports bodies,” he said when asked about his hopes for Budget 2025, up for tabling in Parliament this Friday.

Nevertheless, Hii was encouraged by the government’s focus on addressing major issues, including lifestyle changes, ‘sin tax’, environmental degradation, and corruption, in the upcoming national budget.

He was particularly pleased to see the issue of obesity to be addressed at the top level, with the aim of reducing the percentage of the number of overweight people in the nation’s population.

“From the relatively low level of 30-40 per cent, this issue (obesity) has grown to the watershed 50 per cent.

“If it is not effectively dealt with, the rate may even go higher.”

Hii opined that in tackling obesity among students, the government should allocate grants to both public and privately-funded schools, along with special annual fund for sports activities.

“My company Delta Leasing Bhd, in collaboration with SMK Sacred Heart and supported by Minister of Women, Childhood and Community Wellbeing Development Sarawak Dato Sri Fatimah Abdullah, has been holding awareness programmes to encourage students to stay fit and healthy through exercise and also through participation in sports and outdoor activities,” he said.

“Any school that manages to reduce the body mass index (BMI) among its students to a predetermined level should be acknowledged or rewarded.”