Home renovation bonus 2024: how does it work and what are the subsidized expenses? How you can take advantage of the deduction, how to make the payment and which documents to keep for the tax return.
With the 2024 Home Renovation Bonus, is the right time to renovate your home? In our opinion, yes, also because 50% is deductible in ten years. If you want to do it first there are two alternatives: transfer of credit to a bank or discount on the invoice by the company that will do the work.
Renovation is an important opportunity to save: it improves the efficiency of the house (therefore it allows to consume less energy to heat it), but also gives the possibility to request very convenient incentives. The expenses incurred for the renovation must be traceable and can be recovered in a certain percentage. In addition, the spending ceiling and conditions change every year and you need to stay up to date to avoid problems.
For this reason, home renovation is above all an
investment : making the home energy efficient and comfortable allows you to live better and increases the value of the property.
Let's start by saying that the
Relaunch Decree gives the right to the assignment of credit for restructuring bonuses, for Ecobonus 2021, for Sismabonus and for interventions that can be facilitated at 110%.
With the
2021 restructuring bonus there is a tax deduction of 50% of the expenses incurred, for expenses of up to 96,000 euros. It is charged for extraordinary maintenance costs in individual buildings, while it is also recognized for ordinary maintenance in condominiums. This possibility is currently recognized until 31 December 2021.
The tax incentives guide of the Revenue Agency explains how the facility on building renovation works.
Building renovations: what is it? The response of the Revenue Agency
Here is the part that interests us most:
"The
tax relief on building renovations consists of a deduction from the personal income tax ... However, for expenses incurred from June 26, 2012 to December 31, 2021, the deduction is raised to 50% and the maximum spending limit is 96,000 euro. The deduction must be divided into 10 equal annual installments."
But what are the jobs to benefit from the 2021 restructuring bonus?
So, as we have already seen, the 2021 restructuring bonus is the tax deduction of 50% for people who carry out ordinary and extraordinary maintenance works in condominiums or in single homes. The deduction is 50% and is divided into various shares, to be spread over a period of ten years.
The restructuring bonus, extended until 31 December 2021, allows access to an IRPEF refund for expenses incurred, up to a maximum of 96,000 euros. Furthermore, since last year a new requirement has been introduced for access to the deduction: it is mandatory to send the ENEA communication.
Let's continue by seeing together what is the list of works and expenses that can be exercised in the deduction.
How does it work? Expenses allowed in deduction
Restructuring bonus: for which jobs can you use the 2021 restructuring bonus? To understand this, it is necessary to refer to the guide of the Revenue Agency. In particular, the 50% deduction is due to:
- Ordinary maintenance or extraordinary maintenance works carried out on the common parts or on the individual residential units of each cadastral category;
- Works for reconstruction in case of damage following disasters;
- Interventions for garages or parking spaces;
- Work to eliminate architectural barriers;
- Interventions relating to the adoption of measures aimed at preventing the risk of third party illegal acts;
- Interventions aimed at the wiring of buildings and the containment of noise pollution;
- Energy saving interventions;
- Interventions for anti-seismic measures such as static safety works;
- Interventions for asbestos remediation and to avoid domestic accidents;
- Repair of home security installations;
- Gas detection apparatus;
- Monitoring of safety glass;
- Installation of handrail devices.
In addition to the expenses necessary for the execution of the works, for the purposes of the deduction it is also possible to consider:
- Expenses for related professional services;
- Expenses to regularize buildings;
- Compensation for the report on the compliance of the works with the law;
- Expenses for carrying out appraisals and inspections;
- VAT, stamp duty and fees paid for concessions and authorizations for works;
- Infrastructure costs;
- Costs strictly related to the implementation of the interventions.
Who is eligible for the 2021 restructuring bonus?
The 2021 restructuring bonus
can be requested by all taxpayers subject to the payment of income taxes, resident or non-resident in Italy. The 50% deduction can be requested not only by the owner but also by the following subjects who bear the expenses as holders of usufruct or home, tenants or members of cooperatives.
Obviously this taxpayer will have to have the renovations carried out at his own expense and register them regularly. Even those who do work on their own on the property alone, only for the costs incurred for the purchase of the material.
Building renovation of condominiums
A clarification: even the smallest condominiums that do not have an administrator and a tax code, can still take advantage of the deduction for interventions in the common parts. Those who pay by bank transfer must indicate the tax code of the condominium or the tax code of the condominium who makes the transfer.
How to make the 2021 restructuring bonus transfer?
In this case there is the
obligation of traceability of payments . To pay the invoices relating to the works included in the 2021 restructuring bonus, it will be necessary to make a bank transfer in which various data will be indicated:
- Reason for payment: "Bank transfer for construction works with the right of deduction provided for by art. 16-bis of Presidential Decree 917/1986";
- Tax code of the beneficiary;
- Tax code or VAT number of the beneficiary.
Communication to enea
The communication to ENEA, already foreseen for some years for the Ecobonus, was extended two years ago also for the restructuring bonus. In case of failure or delay in sending the communication, the restructuring bonus is not lost.
Restructuring bonus 2021: how to request it and which documents to keep
During the tax return , the request for the 2021 restructuring bonus is also made. To benefit from the 50% bonus it is necessary to indicate the charges incurred in the 730 Model or in the Income Model.
In addition, the following documents should be kept aside (especially in the case of controls by the Agency):
- Administrative qualifications in relation to the type of work to be carried out;
- The registration application for properties not yet registered;
- IMU payment receipts, if due;
- Assembly resolution approving the execution of the works and thousandth table;
- Declaration of consent of the owner for the execution of the works;
- Prior communication containing the start date of the works to be sent to the ASL;
- Invoices and tax receipts related to expenses.
Relaunch Decree in relation to the 2021 Ecobonus
The Relaunch Decree increased the possibilities of the concessions that were already present. The Ecobonus 2021 can be used for structural interventions of energy redevelopment or building safety.
The 110% deduction to benefit from the 2021 Ecobonus can be used for energy redevelopment works, reduction of seismic risk, installation of photovoltaic systems, for expenses incurred until 30 June 2022, and provides that the subsidy must be shared in 5 equal installments.
Eco-bonus 110% on windows: are they included? Read the complete guide on the Windowo blog.
Who is entitled to the 2021 eco-bonus and the sismabonus?
The 110% Superbonus can be benefited by:
- Condominiums;
- Individuals outside the exercise of business activities for interventions on individual real estate units;
- Autonomous public housing institutes (IACP) however denominated, entities having the same social purposes as the aforementioned institutes;
- Undivided housing cooperatives;
- Third sector bodies;
- Amateur sports associations and clubs;
- As far as businesses are concerned, they cannot generally benefit from it.
The deduction is up to the subjects who own or hold the property object of the intervention on the basis of a suitable title at the time of starting the works or at the time of incurring the costs.
Eco-bonus and seismabonus re-launch decree at 110%
Starting from 1 July and until 30 June 2022 it is possible to take advantage of the 110% bonus for housework aimed at energy saving and anti-seismic retrofitting, regardless of the date of signing the contract and the start of the works.
In addition to the increase in the percentage of deductibility, the most important change is represented by the double intervention to restore the mechanism of the discount on the invoice, together with the possibility of transferring the tax credit to the bank.
The goal is to
allow families to do housework at no cost , following two different ways:
- Anticipating the cost of the work, with a subsequent transfer of the tax credit to the bank or other financial intermediaries, so as to be able to immediately obtain reimbursement of the expenses incurred;
- By transferring the tax credit to the company that carries out the work which, in turn, will be able to use the sum in compensation for the payment of taxes or transfer it in turn without limits, and also to the banks.
The possibility of using the eco-bonus and the seismabonus in tax deduction, with the tax return, for 5 years remains valid.
Can I take advantage of the eco-bonus 2021 even if I don't have personal income tax to pay?
The Ecobonus 2021 facility is deducted from the IRPEF tax within the limit found in the annual tax deriving from the income tax return.
Therefore, the annual portion of the deduction that will not find space in the gross tax for the year cannot be used to reduce the gross tax in subsequent tax periods.
Conclusions: if in doubt, ask a professional
The information you found in this
Windowo guide has been collected by us as carefully as possible. But I remind you that what you have read cannot replace adequate
professional advice , which is always essential.
Renovating a home is a necessary procedure to increase the quality of life. Now you have all the information on the renovation and all you have to do is decide which construction works to carry out on the house and contact the most suitable experts to make an assessment on it.
