Vermillion made a very good point here that many people do not understand. You can take out as much as you want from your TFSA and put that back in the next year provided it is $5,000 or less. If you take out $9,000 you can only put back $5,000 next year. You can of course add an additional $5,000 for next years contribution. The example on the CRA website is not too clear because the example is for withdrawing $3,000. At least that was the example early in 2009 when I asked them. Some people think that you can put all $9,000 back but CRA has told me differently.

I have been very fortunate with mine. Two of my adult children that are in university and not able to make use of theirs have opened joint accounts with me and I will utilize those as well.

Vermillion said:

Right. See. Also, think confirmed that husband/wife/common-law can each have one. 10,000. is better to play with than 5,000. No? You can take any amount out, and in the following year or years, add back in the 5,000. or 5,000.'s as well as the yearly contribution. So, if you just didn't add 5,000. for three years, you could add in the 15,000 or part of as well. You never lose the ability to add up to 5000. that you missed over any given time frame.