Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Canadian Home Sales See Steady Growth in September

 

In September 2024, Canadian home sales experienced a notable increase, rising by 1.9% compared to the previous month. This marks a significant annual growth of 6.9%, according to data released by the Canadian Real Estate Association (CREA) on Tuesday.

The uptick in sales comes in the wake of the Bank of Canada’s third interest rate cut this year, which has contributed to a more favorable borrowing environment for homebuyers. Despite the increase in sales, the number of properties listed for sale remains below historical averages, with 185,427 properties available on Canadian MLS® Systems at the end of September.

This steady growth in the housing market reflects a resilient demand for homes across the country, even as economic conditions fluctuate. The continued interest rate cuts are expected to further stimulate the market, potentially leading to more robust sales figures in the coming months.


Labels:

Comments

Post a Comment