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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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Tragic Collision Over Potomac River: 67 Lives Lost in D.C. Plane Crash

In a devastating incident, an American Airlines flight collided with a U.S. Army Black Hawk helicopter over the Potomac River near Ronald Reagan Washington National Airport, resulting in the tragic loss of 67 lives. The crash occurred last night, and both flight data recorders, or "black boxes," from the American Airlines jet have been recovered for investigation.

The National Transportation Safety Board (NTSB) is leading the investigation to determine the cause of the collision. Among the victims were elite figure skaters returning from a training camp in Wichita, Kansas, and their coaches. The crash has raised concerns about air traffic control staffing levels at the time of the incident, although it remains unclear what role this may have played.

President Donald Trump has expressed condolences and emphasized the need for a thorough investigation. The NTSB has promised a "whole-of-government effort" to uncover the truth behind this tragic event.

As the investigation continues, families and communities across the nation mourn the sudden loss of their loved ones. The scene of the crash is now marked by tributes and flowers left by those grieving.



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