I was just talking to RBC and was told that you can contribute max 5k a year to the TFSA. Apparently, come jan 4th 2011, if you havent contributed in any previous years, you can put the max of 15K in. So, at 2015 for instance, if you havent contributed anything to that date, you can put 35k in in one smash.

Also, if you wanted to play around, you could contribute your 5k for 2011 now, but he advised to wait til jan 4th. If you did this on Dec 29th, technically the settlement date would be jan5th. But if revenue canada did not allow it as 2011 contribution, you would be taxed at 1% because of over contribution to 2010. This is a shady area and I personally would wait until the first trading day in jan.