Thanks to you ...I learned something new about the TFSA.

Back in Jan 2013, I had bought my max in TFSA for 2013.

I thought I had to wait until Jan.2, 2014 to transfer from equity or buy for my TFSA 2014 contributions.

When I read your post ...I picked up the phone and called Scotia Itrade.

They told me ...."no"..."if you already maxed out this year's contributions you have to wait until Jan. 2, 2014."

I became persistant and told them..."but, I heard I could do it early but... I'd have to pay a penalty of $55.00."

The girl at Scotia Itrade told me I don't know anything about this..I have never heard such a thing ...it's nothing to do with us.. maybe try to call Canada Revenue Agency.

So I did.

I got a wonderful woman there and she told me CRA would charge a penalty of 1% per month for being over in your TFSA.

So...If I was to take $5500 of Noront shares in my equity account and transfer it right now to my TFSA account I would pay a penalty of 1% for being one month early...so..

$55.00.

The lady at CRA said "correct." If you transfered an extra $2700 worth of shares it would be :$27.00 ...This is your penalty.

The lady at the Canada Revenue Agency told me this info is a PDF and could be printed right from CRA's website....RC243-SCH-A E (13) if I wanted a record of this available info.

Armed with this I called back Scotia Itrade.

I asked if they could transfer shares from my equity account to my TFSA account.

They said "no problem."

They instructed me how to do this while I was on-line with my computer.

Here's where it gets interesting.

In the section where it asks you about the share price...I assumed it had to be what I was looking at during the conversation which was .205.

Scotia Itrade told me I could use YESTERDAY's closing price which was .185!!!

IF you transfered $5500 bucks worth this is 29,729 shares!!!! They told me yesterday's closing price is acceptable and that it will take approx 2 business days to show up in my account.

so ...I did this.

So...you are 100% correct 96KLITE and so many many thanks to you for this info.