I, like you have the same plan for both my wife and myself. However, I think this TFSA has hugh potential to cost the Government a lot of money, especially if we are allowed to set it up as a stock market account. Therefore, IMHO I predict that Mr. Flaherty will severely alter the type of accounts allowed or cancel the program altogether within two years.

In the meantime fill it up with NOT in Jan and you will probably realize a profit of $40,000 to 50,000, tax free, in each account, if the sp stays around this level until then. The only problem is that the sp will probably be far above .58 by the first of Jan.