If it was something you've been thinking about for a while, take the opportunity: 2020, from the point of view of tax breaks, it offers interesting opportunities for anyone wishing to carry out renovation works, whether they are more important interventions such as the renovation of the house facade or aesthetic embellishments with the purchase of new and domestic appliances. As required by the new Budget Law 2020 and by the tax decree 2020, this year there are quite a few bonuses to “exploit”. Here is a quick overview drawn up by casa.it, the site and app for home seekers and Real Estate professionals.
Facade bonus
Those who carry out certain interventions for the architectural decoration this year are given a discount, or a deductibility from the gross tax of 90% of the costs documented and incurred for works aimed at the recovery or restoration of the facade, including those of simple cleaning or external painting. The deduction will be divided into ten constant annual installments of the same amount in the year in which expenses are incurred and in subsequent ones.
Ecobonus
Confirmed until 31 December 2020 the tax deduction provided for the energy requalification of existing buildings. This is a concession consisting of a deduction from the personal income tax or the IRES tax and are recognized for reducing the energy requirement for heating; for the thermal improvement of the building (insulation - floors - windows, including fixtures), for the installation of solar panels and the replacement of winter air conditioning systems. The deduction is equal to 65%.
Restructuring bonus
This bonus allows you to benefit from a deduction from the personal income tax of 50% on expenses incurred, up to a total amount not exceeding 96. 000 euro per real estate unit. The deduction is due for the building renovation works indicated in the article 16 - bis, comma 1, of the TUIR or, among others, ordinary maintenance interventions (only on the common parts of residential buildings), extraordinary maintenance, conservative restoration and restoration and building renovation. The deduction must be divided into 10 annual shares of the same amount and is guaranteed until maximum spending limit (which will be documented by bank transfers).
Bonus furniture and household appliances
Tax breaks for the purchase of furniture and appliances have also been extended to 2020. This is an IRPEF deduction at 50% provided for the purchase of non-class furniture and appliances lower than A + (A for ovens), for equipment for which the energy label is provided, intended to furnish a property under renovation. The deduction is divided into ten annual installments of the same amount and calculated on a maximum amount of 10. 000 euros, including any transport and assembly costs. The measure is granted for each housing unit.
Bonus earthquake
No changes regarding the so-called Bonus earthquake that allows taxpayers to deduct part of the expenses incurred by income taxes if interventions are carried out for the adoption of anti-seismic measures on buildings. In detail, the bonus earthquake is foreseen for the interventions carried out on all residential buildings and on those used for carrying out production activities, located in high-risk seismic areas (zones 1 and 2) and in those with less risk ( seismic zone 3). For expenses incurred from 1st January 2017 to 31 December 2021 is due a deduction of the 50%, which must be calculated on a maximum amount of 96. 000 euro per real estate unit (for each year) and which must be divided into five equal annual installments . The deduction is higher (70 or 80%) when from the implementation of the interventions a seismic risk reduction of 1 or 2 classes is obtained and when the works have been carried out on the common parts of condominium buildings (80 or 85%). Even those who buy a property in a demolished and rebuilt building in the Municipalities in areas classified as “seismic risk 1”, will be able to deduct a substantial part of the purchase price from taxes (75 or 85%, up to a maximum of 96. 000 EUR).
Green bonus
Extended for the 2020, also the so-called green bonus which consists of an IRPEF deduction of 36% of the expenses incurred for the interventions of “accommodation in green ”of private uncovered areas of existing buildings, real estate units, appurtenances or fences, irrigation systems and construction of wells, as well as for the construction of green roofs and hanging gardens. The deduction, to be divided into ten equal annual installments, must be calculated on a maximum amount of 5. 000 euro per housing unit for residential use, including any planning and maintenance costs related to the execution of the interventions. The payment of the expenses must be made through instruments that allow the traceability of the operations (for example, bank or postal transfer).
Improvement
For expenses incurred since 26 June 2012 to 31 December 2020, allows you to benefit from a deduction from the personal income tax of 50% up to an amount of 96 thousand euros.
The deduction is for ordinary maintenance (only on the common parts of the condominiums), extraordinary maintenance, restoration and conservative restoration and building renovation. The same deduction is also provided for those who buy renovated residential buildings.
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