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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 One of the TFSA’s biggest advantages is that withdrawals are tax-free and the amount withdrawn is added back to your contribution room the following year .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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High Heat Wave Sweeps Ontario: Widespread Warnings Issued by Environment Canada

 

Ontario is sweltering under a prolonged heat wave, with Environment Canada sounding the alarm about dangerously high temperatures. Communities across the province, from southwestern Ontario to the Quebec border, are at risk. Vulnerable individuals, including older adults and young children, face heightened health risks as temperatures soar. In the Greater Toronto Area and Ottawa, humidity could make it feel as hot as 45°C. Even regions further north are bracing for humidex values in the low to mid-40s. This unusual heat event, exacerbated by climate change, underscores the importance of staying hydrated, avoiding strenuous activities during peak heat, and checking on neighbors. Let’s all keep cool and look out for one another during this scorching weather.

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