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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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Icy Monday Ahead: Freezing Rain Threatens Ontario's Commutes


As southern Ontario braces for a pattern change, commuters should be wary of freezing rain that is expected to make roads slippery on Monday. Warmer air moving into the region will clash with stubborn cold air near the surface, creating conditions ripe for ice formation.


Areas at Highest Risk:

- Northern Greater Toronto Area (GTA)

- Cottage country

- Eastern Ontario, including Orangeville, Barrie, and Peterborough


Timing:

- Ice accretion will coincide with the morning commute and continue into the early afternoon before transitioning to rain.

- Central Ontario and the Nickel Belt may experience icing through the evening, potentially turning back to snow.


Precautions:

- Expect slow and messy commutes due to slippery road conditions.

- Environment and Climate Change Canada has issued widespread freezing rain warnings.


Stay tuned to local weather updates and drive safely!



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