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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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Impeachment Bid Against South Korean President Fails Amid Ruling Party Boycott

In a dramatic turn of events, the attempt to impeach South Korean President Yoon Suk Yeol has failed after members of his ruling party boycotted the vote. The impeachment motion, which required a two-thirds majority in the National Assembly, fell short as only three lawmakers from the People Power Party (PPP) participated in the vote.

The impeachment effort was sparked by President Yoon's controversial declaration of martial law, which was quickly overturned by the National Assembly. The opposition parties, holding 192 seats, needed at least eight votes from the PPP to reach the required 200 votes for impeachment. However, the boycott by the majority of PPP members prevented the motion from passing.

The failure of the impeachment vote is expected to intensify public protests and deepen political turmoil in South Korea. A significant portion of the population supports the president's impeachment, and the opposition parties have vowed to continue their efforts to remove him from office.

National Assembly Speaker Woo Won Shik expressed regret over the outcome, calling it an embarrassing moment for South Korea's democracy. He emphasized the importance of democratic procedures and the need for a qualified vote on such a critical national issue.

As the political crisis unfolds, the opposition parties are preparing to submit a new impeachment motion when the next parliamentary session begins. Meanwhile, President Yoon's leadership faces increasing scrutiny, and his ability to serve out his remaining term remains uncertain.



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