RE:RE:RE:RE:RE:RE:Just loaded up big time!!!Wrong!!!
If your TFSA grows to $1 Million and in 2019 you withdraw it all.
The next year 2020 you can put the $1 million back in, plus the $6000 contribution limit for 2020
plus any unused contribution from prior years.
Last year I withdrew $13500 fron my TFSA. I had a carry forward from previous years of $5500.
So this years i can return my $13500 plus my $5500 plus this years $6000
So my contribution room for 2019 is now $25,000.00
It says this on my Notice of Assessment !!!
If i do not contribute this year the $25,000 is carrid forward indefinitely and each new years contribution limit is added to it.
SO for 2020 $25000 + $6000 = $31,000.00
2021 $31000 + $6,000 = $37,000.00 ect