23 January 2024 External T.I. 2023-1000021E5 - Total charitable gifts for a particular year -- summary under Subsection 118.1(2.1)

CRA confirmed that an individual can choose (under s. 118.1(1) - "total charitable gifts" – (c)(i)(A)) not to claim a charitable donation in a particular year and carry forward the claim for up to five years, subject to the s. 118.1 limitations. For example, under s. 118.1(2.1), gifts will be considered to have been claimed in determining an individual's charitable donations tax credits in the order in which they were made (i.e., on a “first-in, first-out” basis).