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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 Reassesses F-35 Fighter Jet Deal Amid Geopolitical Tensions

Prime Minister Mark Carney has initiated a review of Canada's agreement to purchase 88 F-35 fighter jets from U.S.-based Lockheed Martin. The deal, valued at approximately $85 million per aircraft, aims to modernize the Royal Canadian Air Force. However, Carney has directed Defence Minister Bill Blair to evaluate whether the contract remains the best investment for Canada in light of evolving geopolitical circumstances.

The review comes amidst escalating trade tensions with the United States, including provocative rhetoric from U.S. President Donald Trump. While Canada is legally committed to acquiring the first 16 jets, the government is exploring whether alternative options might better serve the nation's defense needs. Blair has emphasized the importance of ensuring the deal aligns with Canada's strategic interests and has pledged to consult with military and international allies during the review process.

This reassessment underscores the complexities of balancing national defense priorities with shifting international dynamics. The outcome of the review could have significant implications for Canada's defense strategy and its relationship with the United States.

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