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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 One of the TFSA’s biggest advantages is that withdrawals are tax-free and the amount withdrawn is added back to your contribution room the following year .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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Wildfire Reaches Athens’ Outskirts, Prompting Evacuations

 

A fast-moving wildfire, driven by gale-force winds, has spread to the edge of Athens, Greece, torching trees, houses, and cars. The blaze has forced the evacuation of several hospitals and numerous towns and villages.

Key Points:

  • Firefighting Efforts: Over 670 firefighters, supported by volunteers, 183 fire engines, and 32 waterbombing planes and helicopters, are battling the fire.
  • Evacuations: At least 250 people have been evacuated, with some spending the night in shelters.
  • Weather Conditions: Strong winds and high temperatures are exacerbating the situation, with flames reaching heights of 25 meters (82 feet).
  • Government Response: Prime Minister Kyriakos Mitsotakis has returned from a holiday to oversee the response, recalling the devastating 2018 fire in Mati.

The situation remains critical as authorities continue to combat the blaze and protect residents.

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