Renovation Bonus 2024: here’s how to get the 50% deduction.
The Renovation Bonus is one of the most popular tax breaks in Italy, which allows you to recover 50% of the expenses incurred for building renovation, extraordinary maintenance, restoration and conservative redevelopment.
Extension and Deduction:
The good news is that the Renovation Bonus has been extended to December 31, 2024The 50% deduction remains unchanged, with a maximum deductible expense of 96,000 euros per real estate unit.
Accepted Jobs:
The list of works eligible for the Renovation Bonus is extensive and includes:
- Building renovations involving the re-doing or replacement of floors, fixtures, plumbing and electrical systems, etc.
- Extraordinary maintenance, such as repair or replacement of damaged parts of the building.
- Restoration and conservative rehabilitation, aimed at recovering and enhancing the existing building heritage.
Furniture and Appliances Bonus:
In addition to the Renovation Bonus, it is possible to take advantage of the Furniture and Appliances Bonus, which allows you to deduct 50% of the expenses incurred for the purchase of furniture and large appliances with an energy class no lower than A+ (A for ovens). The maximum deduction is 8,000 euros for the year 2024.
How to Get the Deduction:
To obtain the Renovation Bonus deduction, it is necessary to:
- Make payments by bank transfer or postal order, indicating the reason for the payment, the beneficiary’s tax code and the supplier’s VAT number.
- Send to ENEA the descriptive sheet of the interventions carried out within 90 days of the end of the works.
- Submit your tax return, indicating the expenses incurred and the applicable deduction.
Advice:
- Before starting work, it is advisable to consult a qualified technician to verify that the interventions comply with current regulations.
- It is important to keep all documentation relating to expenses incurred, such as invoices, receipts and bank transfers.
- For more information and assistance, you can consult the Revenue Agency website or contact an accountant.
Conclusions:
The Renovation Bonus is an unmissable opportunity to improve your home and recover part of the expenses incurred. With an extension until December 31, 2024 and a 50% deduction, there is no time to waste!
Other Tax Bonuses:
In addition to the Renovation Bonus, there are other tax bonuses for the home, such as the Facade Bonus, the Ecobonus and the Green Bonus. For complete and updated information, we recommend consulting the website of the Revenue Agency.