Income tax: Give more tax breaks for education

Income tax: Give more tax breaks for education
2010/04/30
R.A.S., Kuala Lumpur

letters@nst.com.my

THE time for tax payers to submit their respective tax forms ends today.
This year, many changes and discussions have been centred on our education system and on educational development.

There seems to be a trend where more responsibilities are given out to parents, alumni and the corporate community.

The current tax rebates or incentives such as education-related purchases of computer, books, allowance for our children, tuition rebates, professional fees, charity or donations towards the arts, library and sports facilities, deposits in Skim Simpanan Pendidikan Nasional (National Education Savings Scheme) and insurance premiums for education policies are good and fine.

But, those in the higher tax brackets who have children studying may need more tax breaks to finance their children's education.

Parent-teacher association fees should be given tax exemption, for instance.
Higher tax breaks should be given for children in private education and matriculation, or in foundation classes at the higher-education level.

Why must the benchmark for tax relief be at the government university level?

Since Malaysia wants to be an education hub, please give incentives to parents who wish to send their children to these world-class universities locally.

Most of our education centres need tax breaks to be given to the parents of their students and also enough incentives to run their education business.

Favourable education incentives and tax breaks to parents and industry practitioners will help turn Malaysia into an education hub.