In 2021, Ralph is age 29 and has a TFSA account with his Credit Union and he also has a TFSA account with Big Bank. He has provided you with an overview of his transactions.

 

	Credit Union		Big Bank
Year	Deposit	Withdrawal	Deposit	Withdrawal
2010	$ 1,000		$      500
2013	$     500	$             500	$      500
2014	$ 1,200			$          1,000
2016	$     680	$             200	$      500
2018	$ 2,100		$      200
2020	$     500		$   1,350
2021	$ 6,200			$             350

 

Required:

a) What is his available contribution room for 2021?

b) Identify 3 situations in which there may be tax payable within a TFSA.