A     is the unused contribution room at the end of the previous calendar year
	B     is the total of distributions (withdrawals) made in the preceding calendar year
	C     is the TFSA dollar limit for the calendar year ($5,000 for 2009), if at any time in the calendar year the individual is 18 years of age or older and resident in Canada
	D     is the total of contributions made to a TFSA by the individual in the calendar year

Certain distributions and contributions are excluded from the above formula:

	transfers made directly between TFSAs held by the same person
	transfers made as a result of a marital breakdown, under certain conditions
	withdrawals which are made to reduce or eliminate an excess contribution
	exempt contributions made by a surviving spouse/common-law partner of a deceased TFSA holder

The tax payable for excess contributions to a tax-free savings account is 1% per month, for any month in which there is an excess amount at any time in the month.  This means there will be a tax payable even if the excess amount is withdrawn in the same month in which it is contributed.

Tax Tip:  A TFSA withdrawal will increase your contribution room, but not until the following year.

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	What is better - TFSA or RRSP?
	TFSA contributions
	Don't over contribute!

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	TFSA investments - qualified, non-qualified, and prohibited
	TFSA withdrawals
	Asset transfer (swap) transactions
	Taxes payable re TFSA
	Marital breakdown
	Death of the TFSA holder

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