RE:YeaThe current yearly contribution is $6000, whether that is one TFSA account, or spread out over different Banks, your Max is still just $6000 per year, and....if you haven't been making regular Contributions since inception of the TFSA program and qualify , you can bring up to the Max amount of something like $75,000 this year to make-up for the years you missed contributing. Works very well for those who have had a windfall, an inheriitance, or just an accumulation of saved-up money sitting around not actively invested or managed.. No Tax payable on the Contribution, but there are strict rules on Withdrawal and time of re-payment back-in if you choose .
Great things always have Rules... but TFSA's are really terrific for long-term Planning, particularly into the Retirement phase. Lots of benefit there over the RRSP situation and the Clwaback factor that RRSP's expose you to at Tax Time!