MaGIC launches tax incentives for crowdfunding campaigns hosted by social enterprises

I’m excited to share that MaGIC has launched a new tax incentives to encourage businesses and individual donors to donate in crowdfunding campaigns hosted by approved social enterprises by MaGIC.

Donors can now get up to 10% tax incentives from their annual aggregate income between 1st August 2020 to 31st July 2021.

To recap, the Social Impact Matching Grant is a RM10 mil grant launched as part of the government’s Penjana initaitive to support social enterprises and social innovation in Malaysia. Every ringgit raised in a crowdfunding campaigned will be matched on a 1:1 ratio.

Read more about the Social Impact Matching Grant on MaGIC’s website.

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