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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 One of the TFSA’s biggest advantages is that withdrawals are tax-free and the amount withdrawn is added back to your contribution room the following year .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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Trump Shortens Russia Deadline to 10–12 Days for Ukraine Peace Deal

 


Trump Pressures Putin with New Ceasefire Ultimatum

U.S. President Donald Trump has dramatically shortened the timeline for Russia to reach a peace agreement with Ukraine, warning that Moscow now has just 10 to 12 days to show progress or face severe economic penalties.

Speaking in Scotland alongside UK Prime Minister Keir Starmer, Trump expressed growing frustration with Russian President Vladimir Putin, stating:

“I’m disappointed in President Putin… There’s no reason to wait. If you know what the answer is going to be, why wait?”

This new ultimatum replaces a previously announced 50-day deadline set earlier in July, which would have expired in early September. Trump’s revised deadline now falls between August 7 and August 9.

Sanctions and Tariffs Loom

Trump reiterated his threat to impose:

  • 100% tariffs on Russian exports
  • Secondary sanctions on countries that continue to trade with Russia, including major buyers like India and China

These measures aim to intensify pressure on Putin to halt missile and drone attacks on Ukrainian cities, which have continued despite diplomatic outreach.

Mixed Signals and Diplomatic Strain

While Trump has previously touted his relationship with Putin, he now appears less willing to engage in dialogue:

“I’m not so interested in talking anymore… We have such nice conversations, and then people die the following night.”

Ukraine welcomed the move, with President Zelenskyy's chief of staff thanking Trump for “standing firm and delivering a clear message of peace through strength”.

Russia Responds

The Kremlin has not officially commented, but former Russian President Dmitry Medvedev criticized Trump’s approach, warning that repeated ultimatums could escalate tensions and risk direct conflict with the U.S.

What’s Next?

With the clock ticking, global attention turns to Moscow’s response. Trump’s deadline marks a pivotal moment in the ongoing conflict, testing both his diplomatic leverage and Russia’s willingness to negotiate.


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