How are donations made on December 31st accounted for?

The accounting for donations made on December 31st varies internationally. In the U.S., such donations qualify for that year's tax deductions, regardless of payment method. In Canada, the decisive factor is the charity's receipt date, meaning donations not deposited the same day move to the next tax year. Australia requires donations to be received by June 30th for inclusion in that financial year's deductions. Understanding these distinctions ensures donations are appropriately recognized according to each country's tax regulations.

United States

Donations made on this date are included as charitable contributions for that tax year. Even payments made in cash or by check after December 31st are considered for that year.


 If donations are made on December 31st but not deposited on the same day, they count for the following tax year. The crucial factor is when the charity actually receives the gift.


Tax-deductible donations need to be received before June 30th to be counted for that financial year.