Ceiling Amounts for Housing Benefits Released

CRA has released bulletin RC4054 which provides an update of the ceiling amounts it will allow for rents and utilities benefits calculated for those living in Prescribed Zones for the purposes of the Northern Residents Deductions.

For prescribed zones without a developed rental market, the ceiling amounts reflect increased in the Consumer Price Index.

For 2011, for common shelter, the amount is $173 a month, same as last year. For apartments or duplex, the amount has increased to $467 a month for rent only, $227 per month, utilities only and $694 for rent and utilities. For a house or trailer, the 2011 amounts are $781 per month, rent only, $345 per month, utilities only and $1126 for both.

ADDITIONAL EDUCATIONAL RESOURCES: DFA-Tax Services Specialist Designation courses.