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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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Scarborough Pub Shooting Leaves 12 Injured, Suspects Remain at Large

A tragic shooting unfolded late Friday night at a pub near Scarborough Town Centre in Toronto, leaving 12 people injured. The incident occurred around 10:40 p.m. at the Piper Arms Pub, located on Progress Avenue. Toronto police reported that six of the victims sustained gunshot wounds, though none of the injuries are life-threatening. The victims range in age from their 20s to mid-50s.

Authorities have identified three male suspects who entered the pub and opened fire. The suspects were last seen fleeing the scene in a silver car, with one reportedly wearing a black balaclava. A command post has been established near the pub as police continue their investigation. Progress Avenue remains closed between Ellesmere Road and Highway 401.

Toronto Mayor Olivia Chow expressed her concern, stating that all necessary resources have been deployed to apprehend the suspects. She extended her thoughts to the victims and their families.

This incident has left the community shaken, as the pub was celebrating its grand opening on the night of the shooting. Police urge anyone with information to come forward.


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