Today's date is December 1, 2022. Your client is Bill Smith. Bill was born on January 30, 1995. He opened his TFSA in March 2013 at TD Bank and contributed $5,000 at that time. No withdrawals from this account in 2013. In March 2014, Bill contributed $3,500. In September 2014 Bill withdrew $1,500 to pay for his vacation. In December 2014 Bill withdrew another $1,000 for holiday presents. In June 2015, Bill contributed $3,000. No withdrawals in 2015. In February 2016, Bill withdrew $2,000 and made no contributions that year. In 2017, Bill made no contributions or withdrawals to his TD Bank TFSA. However, Bill opened up a second TFSA at the Bank of Montreal (BMO) because of their higher interest rate, On October 1, 2017 Bill contributed $2,000 into his BMO TFSA. In 2018, Bill made no contributions to either one of his TFSA. However, he withdrew $500 from his BMO TFSA in December 2018. In 2019, Bill made on TFSA contributions or withdraws. In 2020, Bill contributed $4,500 to his BMO TFSA. No withdrawals. In 2021, Bill contributed $7,000 to his TFSA at TD Bank. No withdrawals.

Years Additional Contribution Room Added to the TFSA Each Year by the Government 2009 to 2012 $5,000 per year 2013 and 2014 $5,500 per year 2015 $10,000 for the year 2016 to 2018 $5,500 per year 2019 $6,000 for the year 2020 $6,000 for the year 2021 2022 $6,000 $6,000 REQUIRED Calculate the amount of TFSA contribution room for Bill for 2022. HINT: Start your calculation in the year in which Bill turned 18 years of age.