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.