more time vs enough time

a) I don't have sufficient time to practice.
b) I've reached the limits of my time to practice, it's finished.

Hi Marius Hancu and thank you for raising this question, Magic79.

b) I've reached the limits of my time to practice

Peaceblinkfriend
"It's" here is short for "it has", right?

Yes.

Doll

Peaceblinkfriend
"It's" here is short for "it has", right?

Yes.

Oh my ***! Can was be shorten as it's????Really? It is the first time I have heard of this.

Doll

Peaceblinkfriend
"It's" here is short for "it has", right?

Yes.

I would interpret "It's finished" as "It is finished", but agree that it could also be "It has finished.".
I've never noticed anyone contract it + was. The word 'was' might be somewhat unclearly pronounced sometimes, but the 'w' and 's' sounds are still there.

YankeeI've never noticed anyone contract it + was.

I haven't either. Let's give it a try:

It was completed four months ago.
It's completed four months ago.

Well it sound's completely alien to me.

That contraction sounds alien to me, too.

YankeeThat contraction sounds alien to me, too.

Let me qualify the "was" part, at least that was what I had come across in some contexts. I believed "it's finished" could be interpreted as "it was finished" at least in wirtten form.

Father: John, did you get the garage cleaned up like I asked you to this morning?

Son: it's finish