Boh:

You should check with your broker. As I was told, if you withdraw a million from your TFSA - that creates a high water mark and you can replace all of it not just your TFSA max contribution. This is a hidden beauty of the TFSA. If you are swapping a million dollars of SLI shares from a cash account in to the TFSA you will have to pay capital gains on the million transfered in at the end of the transfer year. The high water mark is only created if/when you withdraw from the TFSA. Check that out.

Rawkstar