Skip to main content

Featured

5 Things to Know Today: Oil Tops $108, CPI Day, and the Investment Summit Kicks Off

  Monday, September 14, 2026 A busy Monday for your wallet: oil has punched through $108 a barrel on a second Middle East supply shock, Statistics Canada's August inflation report lands this morning, and Toronto is hosting the country's first-ever Investment Summit. Here's what's moving and what it means for you. 1. Oil jumps to a 4-month high after Saudi pipeline shutdown Brent crude touched roughly $108 a barrel and WTI neared $103 on Monday after Saudi Arabia shut down its East-West pipeline — a 7-million-barrel-a-day route that bypasses the Strait of Hormuz — following drone strikes near Medina. A planned Oman meeting between Iran and Gulf states to de-escalate Hormuz shipping tensions was also postponed over the weekend, removing a near-term path to calm. Both benchmarks are now up roughly 9% over the past week alone, and some bank forecasts flag $120 oil as back on the table if disruptions persist. What it means for you: Pump prices, which had been easing thanks ...
Post a Comment
Read more

article

Labels

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 double‑checking your numbers.
  • Your official contribution room is always available through your CRA My Account.
  • Investment gains inside a TFSA do not affect your contribution room.


Labels:

Comments

Post a Comment