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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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Canadians Advised to Leave Lebanon Amid Rising Tensions and Flight Cancellations

 

The Canadian government has issued an urgent advisory for its citizens in Lebanon to return home immediately, as escalating tensions in the region have led to the cancellation of several flights.

Lara Salameh, a Laval, Quebec resident, was scheduled to fly back to Montreal from Beirut with her family, but their flight was cancelled the night before departure. Air France informed her that services out of Beirut were suspended due to the unstable security situation.

Foreign Affairs Minister Mélanie Joly emphasized the urgency of the situation, stating, "If you are in Lebanon, come back home. If tensions escalate, the situation on the ground may not allow us to help you, and you won’t be able to leave". The Canadian government has been preparing for a potential evacuation since October, deploying military personnel to Lebanon and Cyprus.

The conflict between Israel and Hezbollah has intensified, with Hezbollah’s leader declaring a “new phase” in the conflict following the death of a commander in an Israeli airstrike. This has heightened fears of a broader conflict, prompting the Canadian government to advise its citizens to leave Lebanon while commercial flights are still available.

Despite the warnings, not all Canadians in Lebanon are planning to leave. Some, like Stephani Moukhaiber, who returned to Lebanon from Montreal last year, intend to stay despite the rising tensions.

As the situation remains volatile, Canadians in Lebanon are urged to monitor travel advisories and make arrangements to return home as soon as possible.


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