Tax questions? You ask lah! #84

Published: Wed, 07/20/22

Tax questions? You ask lah!

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

Is the registration fee for virtual run eligible for lifestyle relief?

A:
If the virtual run is a sports competition where the organiser is approved and licensed by the Commissioner of Sports under the Sports Development Act 1997, then the registration fee will be eligible for lifestyle relief up to RM 500.

Are donations made to charity foundation tax deductible?

A:
It depends on whether the charity foundation is an approved foundation under Subsection 44(6) of the Income Tax Act 1967. If it is, then the donation is deductible up to 10% of your aggregate income.

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

Disclaimer: The email is intended for informational purposes only. YYC has taken all reasonable care in the preparation and compilation of the information contained in this email, the information contained in the email is believed to be reliable but YYC or their associates make no representations as to accuracy, completeness, suitability, or validity of any information and will not be liable for any errors, omissions, or delays in this information.

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