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Calculations for TFSA & Investment


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In my T5 slip, in box 24 - actual amount of dividend is 15,303,69, and in box 25 - taxable amount of dividend is 21,119, and in box 26 - Dividend tax credit is 3172

In my T4PS, in box 30 - it shows 6606.80,  and in box 31 -  it shows 9117.43, and in box - 32 it shows 1369.42 and in box 35 - it shows 2101.46.

I have roughly about $500,000 in my investor edge account.   

My advisor at the bank told me,  for better return, and also to save money from paying CRA, move some money to my TFSA and from there we can the money on investment with better return.

 He told me we have to be careful when moving the money to TFSA as we might end up paying more tax. 

Need your expertise -  how to calculate how much money I can safely deposit in my TFSA without being penalized. MY TFSA contribution room is $80,000

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