Tax questions? You ask lah! #59

Published: Wed, 01/26/22

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

Is ice skating a recognized sports activity eligible for lifestyle relief?

Yes, under the Sports Development Act 1997, ice skating is recognized as a sports activity. As such, if you purchase any ice skating equipment, you can claim lifestyle relief for the purchase.

If Chris purchase a laptop in overseas for his child who is studying abroad, can he use the invoice which is billed in foreign currency to claim lifestyle relief?

Yes, he can claim the lifestyle relief, but he needs to convert the invoice amount to Malaysian Ringgit. He can get the foreign currency exchange rate from the LHDN website.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. One more thing. I have a FREE Tax Livestream that you won't want to miss out. Because you can learn how to SAVE TAX for business! Reserve your FREE seat here: bit.ly/zen-taxlive

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