RE:TFSA penaltyoh and its true you can recontriubute dollar for dollar what you pull out the following January, but to a maximum of the life time max....so f I took my 52k and turned it into 350k, then pulled out 200k... I'd only be able to recontribute 57500, not the 200 I pulled out. You can't "create" extra room above the lifetime space (57.5 currently).
this is how Harpers friends made a killing. They over contributed, and only had to pay 1% per month on the principal amount they over contributed, till that principal amount is withdrawn. They did not pay a penalty on money they made w the overcontribution....