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Canadians Gain More Room to Save with 2025 TFSA Limit

  The Tax-Free Savings Account (TFSA) contribution limit for 2025 has been set at $7,000 , giving Canadians another opportunity to grow their investments tax-free. Since its launch in 2009, the TFSA has become one of the most popular savings tools in the country, offering flexibility and tax advantages that appeal to both short-term savers and long-term investors. For those who have never contributed to a TFSA and were eligible since the beginning, the total cumulative contribution room now stands at $102,000 . This allows Canadians to deposit a significant amount into their accounts without worrying about taxes on investment gains, dividends, or withdrawals. One of the TFSA’s biggest advantages is that withdrawals are tax-free and the amount withdrawn is added back to your contribution room the following year . This makes it ideal for saving toward major purchases, retirement, or even emergency funds. Unlike RRSPs, contributions are not tax-deductible, but the growth inside the...
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Your daily horoscope: August 22, 2023

 


HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Jupiter’s influence on your birthday will encourage you to believe that all things are possible but if you are smart you won’t try to do everything. The more you narrow down your goals over the coming year the more likely it is you will reach them.


ARIES (March 21 - April 20):

Too many people are wasting too much of your time on trivial matters and you need to send them packing. Focus only on issues that are of importance to you today. If you refuse to suffer fools they will get the message soon enough.


TAURUS (April 21 - May 21):

Invitations to enjoy yourself socially will come thick and fast over the next 24 hours but you are under no obligation to get out and about just because others expect it of you. Spend your time in quiet contemplation rather than partying all day and all night.


GEMINI (May 22 - June 21):

The fact that you have built up a lot of momentum in recent weeks should keep you going for some time yet, even though the sun is about to move into one of the more sensitive areas of your chart. Follow through on what you have already started.


CANCER (June 22 - July 23):

You have accomplished a lot in recent weeks but how much have you done for other people, including the people you love? Make it your No. 1 aim to find out what friends and family members need and do what you can to get it for them.


LEO (July 24 - Aug. 23):

You won’t be much in the mood for socializing today, so give parties and family gatherings a miss. The more background noise there is in your life the less you will be able to get your thoughts in order and that is now your number one priority.


VIRGO (Aug. 24 - Sept. 23):

Mars in your sign has been doing wonders for your confidence but because Neptune is strong in your chart as well today there will be times when you doubt yourself for no good reason. Those doubts will pass if you refuse to dwell on them.


LIBRA (Sept. 24 - Oct. 23):

Events that seemed so unfair a day or two ago can now be seen as blessings in disguise, so get past your doubts and embrace them. Ultimately, all change is for the good, so remind yourself of that fact and move confidently into the future.


SCORPIO (Oct. 24 - Nov. 22):

If you feel you would like to get more deeply involved in a cause that inspires you, now is the time to give it a go. Don’t be one of those people who sign up and expect everyone else to do the work. Get involved on a personal level.


SAGITTARIUS (Nov. 23 - Dec. 21):

Just because you believe in yourself 100 per cent does not mean everyone else does too and your main aim today must be to convince someone – a friend or a work colleague – that you know what you are doing. Only then will they support you.


CAPRICORN (Dec. 22 - Jan. 20):

You will be on the move a lot over the next few days but unless you want to waste time making detours you must plan your route in advance. To do that, of course, you need to be aware of your overall goal. So, what is it?


AQUARIUS (Jan. 21 - Feb. 19):

Be on your guard when dealing with money matters over the next 24 hours, because the planets warn if you trust other people too much you could fall victim to a confidence trick. Never use your own cash to finance other people’s hunches.


PISCES (Feb. 20 - Mar. 20):

Mars in your opposite sign makes partners and colleagues a bit too assertive for your liking but the fact is they have the power to call the shots, while the only power you have is it choose whether or not to follow their lead. If in doubt, don’t.

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