As 2021 draws to a close, you may be thinking of ways to contribute to your favourite charities, especially after a particularly challenging year with the effects of COVID-19 still present. Charitable donations are a great way to support the causes that are important to you, and they can also help improve your personal tax situation for 2021. Before making your donations, you may want to consider the best way to do so, as the tax savings you receive depends on the type of gift you make. Whether you ultimately choose to make a cash donation or a gift of property (known as a "gift in kind"), you'll still have to make your charitable gifts by December 31, 2021 if you want to claim the donation tax credit on your 2021 tax return.

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