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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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Canada Post Strike Threatens Vital Donations for Local Charities


 

As the holiday season approaches, local charities are facing a significant challenge due to the ongoing Canada Post strike. This disruption is expected to lead to a sharp decline in mail-in donations, which are crucial for many non-profit organizations during this time of year.

In the Waterloo region, charities like the United Way and the Salvation Army rely heavily on mail-in donations, especially during November and December. Scott Hamilton from United Way Waterloo Region mentioned that half of their donations come through the mail during these months. Similarly, the Salvation Army received about $60,000 through mail-in donations last Christmas.

The strike has already impacted organizations like Food4Kids Waterloo Region, which reported a $10,000 shortfall due to the postal disruptions. Many charities are urging donors to consider alternative methods of giving, such as online donations, phone pledges, or in-person contributions.

To mitigate the impact, some organizations are exploring options like hand-delivering newsletters and donation requests to potential donors. Despite these efforts, the strike poses a significant threat to the fundraising efforts of many local charities, potentially affecting their ability to support those in need during the holiday season.

If you usually donate by mail, consider switching to online or other methods to ensure your contributions reach these vital organizations.


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