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Canadians Gain More Room to Save with 2025 TFSA Limit

  The Tax-Free Savings Account (TFSA) contribution limit for 2025 has been set at $7,000 , giving Canadians another opportunity to grow their investments tax-free. Since its launch in 2009, the TFSA has become one of the most popular savings tools in the country, offering flexibility and tax advantages that appeal to both short-term savers and long-term investors. For those who have never contributed to a TFSA and were eligible since the beginning, the total cumulative contribution room now stands at $102,000 . This allows Canadians to deposit a significant amount into their accounts without worrying about taxes on investment gains, dividends, or withdrawals. One of the TFSA’s biggest advantages is that withdrawals are tax-free and the amount withdrawn is added back to your contribution room the following year . This makes it ideal for saving toward major purchases, retirement, or even emergency funds. Unlike RRSPs, contributions are not tax-deductible, but the growth inside the...

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Your daily horoscope: May 2, 2025

 

IF TODAY IS YOUR BIRTHDAY

You have what it takes to reach the top and stay there, but you must trust yourself 100 per cent and refuse to be dismayed when, as they will, things occasionally go wrong. Be bold in your thinking and bolder still in your actions.

ARIES (March 21 - April 20):

What you think is a serious problem isn’t really a problem at all, so stop worrying yourself sick about it and switch your attention to something of a more positive nature. You can make yourself happy or you can make yourself sad, it’s entirely your choice.

TAURUS (April 21 - May 21):

Although you might prefer to keep your ideas to yourself the cosmic union of Venus, your ruler, and Neptune in the most sensitive area of your chart makes this a good time to open up about your dreams. Believe in them and they WILL come true.

GEMINI (May 22 - June 21):

You appear to have the Midas touch and if you take a risk today there is every chance it will pay off. Don’t push your luck too far but do be willing to believe that what was previously thought impossible is now very much on your radar.

CANCER (June 22 - July 23):

Relationships on the work front will go well for you today, especially if you are willing to look past other people’s faults and recognize that they are striving just as hard as you. Switch off the judgmental side of your nature and be everyone’s friend.

LEO (July 24 - Aug. 23):

It would be a good idea to run through your plans for the weekend with your loved ones before committing yourself. The planets suggest they have plans of their own and you don’t want your activities to clash. How can you assist each other?

VIRGO (Aug. 24 - Sept. 23):

Money matters are under favorable stars today but for best results you should forget about maximizing your profits and aim to maximize good feelings with your partners instead. A short-term investment of kindness will lead to bigger earnings later on.

LIBRA (Sept. 24 - Oct. 23):

If yesterday was good for partnership matters then today will be ten times better. With Venus, your ruler, allied to Neptune, planet of universal love, you will be more open to other people now than ever before, and that openness will bring unbounded success.

SCORPIO (Oct. 24 - Nov. 22):

By all means come and go as you please but don’t forget that you have obligations to fulfil and if you ignore them now they will have to be met later on. Maybe you should get them sorted today and come and go as you please over the weekend.

SAGITTARIUS (Nov. 23 - Dec. 21):

Cosmic activity in the most dynamic area of your chart means your insights into what needs to be done are on a higher level now. Listen to what your inner voice tells you and act on it quickly. That voice can take you right to the top.

CAPRICORN (Dec. 22 - Jan. 20):

Family matters are well starred today, so put your work on hold for a while and focus on having fun with the people you love. No matter how successful you may be in the world at large it is what happens on the home front that matters most.

AQUARIUS (Jan. 21 - Feb. 19):

For some strange reason you seem to believe that people are talking behind your back, but why would they want to do that? The planets indicate that no one is making fun of you or trading gossip at your expense, so stop worrying about it.

PISCES (Feb. 20 - Mar. 20):

Cosmic activity in the financial area of your chart will encourage you to back up those big ideas you’ve been having with time, energy and money. The more you are willing to invest in yourself the more you will get back in return.

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