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Understanding Your TFSA Contribution Room in 2026

A Tax‑Free Savings Account (TFSA) is one of Canada’s most flexible and powerful savings tools, but figuring out your exact contribution room can feel like solving a puzzle. A clear breakdown makes it much easier. How TFSA Contribution Room Works Your available room is made up of three parts: Annual TFSA limit for the current year Unused contribution room from previous years Withdrawals from previous years (added back the following January) For 2026, the annual TFSA limit is $7,000 . Step‑by‑Step: How to Calculate Your Room Use this simple formula: [ \text{TFSA Room} = \text{Unused Room from Prior Years} + \text{Current Year Limit} + \text{Withdrawals from Last Year} ] A quick example: Unused room from past years: $18,000 2026 limit: $7,000 Withdrawals made in 2025: $4,000 [ \text{Total Room} = 18,000 + 7,000 + 4,000 = 29,000 ] That means you could contribute $29,000 in 2026 without penalty. A Few Helpful Notes Over‑contributions lead to penalties, so it’s worth...
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US Futures Tread Water After S&P 500’s Record Close

                                        

US stock futures held steady on Wednesday following a record close for the S&P 500. Investors are closely watching fresh economic data and Federal Reserve minutes for hints on potential rate cuts in this holiday-shortened session.

  • S&P 500 Futures (ES=F) traded flat after the benchmark index ended Tuesday above 5,500 for the first time.
  • Nasdaq 100 Futures (NQ=F) remained little changed.
  • Dow Jones Industrial Average Futures (YM=F) edged up 0.1%.

The stock market is preparing for an early close (1 p.m. ET) on Wednesday ahead of the Independence Day holiday. Jerome Powell’s remarks on cooling inflation have fueled hopes for an interest-rate cut, even as he signaled no immediate urgency to act. Traders are currently pricing in 65% odds of a rate decrease in September, according to CME’s FedWatch tool.

Eyes are now on updates regarding private payrolls and jobless claims, providing insight into the labor market before the key June jobs report release on Friday. Additionally, data on services activity and factory orders will be closely watched for signs of further economic slowing that could prompt policy adjustments.

In corporate news:

  • Paramount Global (PARA) shares climbed over 12% due to reports that Skydance Media has acquired a controlling stake in the entertainment giant.
  • Tesla (TSLA) shares rose almost 3% in pre-market trading following a 10% surge on Tuesday after the EV maker exceeded Wall Street delivery estimates.

Investors are bracing for the July 4th closure, keeping a keen eye on economic data as they assess the path forward. 


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