TFSA contributions For what it is worth – you can make a TFSA over-contribution now and pay a penalty of 1% per month. On a contribution of $6,000, that works out to $180.00 for the balance of this year. Next year – you will get more “room” and the penalty will stop. It is necessary to fill out a form next year which calculates the penalty amount..
(I spoke to the CRA this morning to confirm this. Surprisingly – it did not take very long to speak to an agent.)