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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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Families Flee New Israeli Assault in Gaza’s Khan Younis

In the midst of the ongoing Israel-Hamas conflict, families in Gaza’s Khan Younis are facing a dire situation. Israeli tanks have returned to the southern city, forcing thousands of residents to evacuate along congested roadways. Displaced Palestinians are fleeing on foot, with their belongings piled onto donkey carts and motorcycle rickshaws. The safety of designated humanitarian areas remains uncertain, as they have been attacked in the past. Meanwhile, leaders from the United States, Egypt, and Qatar are attempting a last-ditch effort to revive ceasefire talks. The situation remains tense, and civilians continue to bear the brunt of the violence. 

Previous rounds of negotiations have failed to yield a lasting ceasefire, but the upcoming talks scheduled for August 15 offer a glimmer of hope. As the conflict persists, families in Khan Younis remain caught in the crossfire, desperately seeking safety and relief from the relentless assault. 


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