Amanda put in the maximum into her TFSA for the past 10 years upto 2020 and her account grew to a balance of $102000. In 2020, she withdrew $44569 to start her baking business. Her business is phenomenally successful beyond her wildest dreams, and now two years later she will be able to put the $44569 back into her TFSA. She has not made any deposits into the TFSA both this year (2022) and last year (2021).

What is the maximum she can contribute to her TFSA now that she has the money, and given that the contribution limit remains at $6000 for both the years?

Answer rating: 100% (QA)

The contribution limit for TFSAs for the years 2021 and 2022 is 6000 each Since Amanda did not contr... View the full answer