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Fitness tax proposals submitted to government
The FIA and Business In Sport and Leisure (BISL) tax proposals for the fitness industry have been submitted to government and are much more extensive than previously predicted.
The aims of the tax incentives, drawn up with the assistance of international accountancy firm Deloitte and Touche, are to create better facilities, better access and more community outreach.
Ideas to meet these objectives include providing tax relief on capital expenditure for building works on health clubs, and tax credits to encourage investment in qualifying facilities and costs incurred. Other suggestions include removing taxable benefit on health club memberships paid for by employers, providing income tax relief for health club membership, and reducing stamp duty on buildings used for health related activities.
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