'Chuck out' is informal and best used in casual conversations rather than formal writings or speeches. I need to chuck out these old magazines - they're taking up too much space.
Pro Tip 2/3
Emotional Attachment
Using 'chuck out' can imply a lack of emotional attachment to the item being discarded. He didn't even blink when he chucked out his childhood toys.
Pro Tip 3/3
Suggests Clutter
'Chuck out' often infers the item is clutter or no longer useful. After the garage sale, we'll have to chuck out whatever doesn't sell.