Amounts indicate housing benefits for employees in prescribed zones without a developed rental market
The Canada Revenue Agency (CRA) has announced the 2011 ceilings for housing benefits that employers provide to employees in prescribed zones without a developed rental market. The changes reflect an increase in the shelter portion of the consumer price index.
For 2011, employers should use the following allowable ceiling amounts to determine the value of housing benefits for employees in prescribed zones without a developed rental market:
For an apartment or duplex:
•$694/month for rent and utilities
For a house or trailer:
•$781/month for rent only
•$345/month for utilities only
•$1,126/month for rent and utilities
For a listing of communities that qualify as prescribed zones, refer to the CRA guide, Northern Residents Deductions – Places in Prescribed Zones (T4039).
For common shelter: $173/month
•$467/month for rent only
•$227/month for utilities only