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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 One of the TFSA’s biggest advantages is that withdrawals are tax-free and the amount withdrawn is added back to your contribution room the following year .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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Benefits of airline rewards programs

 

Airline rewards programs offer a host of advantages for frequent travelers and savvy flyers. Let’s explore some of the key benefits:

  1. Free Flights: Accumulating miles allows you to redeem them for free flights. Whether it’s a domestic trip or an international adventure, your rewards can significantly offset travel costs.

  2. Upgrades: Many programs offer the opportunity to upgrade from economy to business or first class using your miles. Enjoy a more comfortable and luxurious flying experience without paying the full fare.

  3. Priority Boarding: Elite members often receive priority boarding, allowing you to settle into your seat early and avoid the rush.

  4. Lounge Access: Access to airport lounges provides a quiet and comfortable space to relax, work, or enjoy complimentary snacks and beverages before your flight.

  5. Baggage Allowance: Elite status often comes with increased baggage allowances, saving you money on checked bags.

  6. Flexible Redemption: Use your miles not only for flights but also for hotel stays, car rentals, and other travel-related expenses.

  7. Partner Airlines and Alliances: Many programs have partnerships with other airlines, allowing you to earn and redeem miles across a broader network.

  8. Special Promotions: Keep an eye out for bonus promotions that allow you to earn extra miles through specific activities (such as dining out or shopping).

  9. Status Benefits: Achieving elite status grants additional perks like priority check-in, dedicated customer service lines, and complimentary upgrades.

  10. Mileage Expiration Prevention: Some programs offer ways to keep your miles active, ensuring they don’t expire.

Remember to choose a program that aligns with your travel habits and preferences.

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