Renovate a house in Italy by taking advantage of new tax credits: Super Bonus, Restructuring Bonus

on Jan 12, 2021 | 0 comments

Remember the craze for the one-euro house programmes? Finally, between the limited number of houses available, the constraints of putting together the application file and the resources needed to complete the operation, many of you have put aside your dream of having a house in Sardinia. But now, you can buy, at a reasonable price, a house requiring renovations and have part of the work financed through the new tax credits: Super Bonus, the Restructuring Bonus..

In this period of pandemic, we are in a position to propose a new project to take advantage of the fiscal aid provided by the recent “Decreto Rilancio” of the Italian government. This could motivate many of you to buy in Sardinia!

Indeed, you can now benefit from a significant tax reduction when renovating a house in Italy, even if you are not Italian or a tax resident in Italy. And since last month, in some cases without any cash advance!

Renovate a house in Italy by taking advantage of new tax credits: Super Bonus

Renovate a house in Italy by taking advantage of new tax credits: Super Bonus

Let’s take a detailed look at the two most interesting proposals from the Italian tax authorities that may be of interest to you:

  • The “Superbonus 110%” is related to priority works carried out to add thermal insulation, air conditioning systems, efficient heating systems, and/or works to reduce the seismic risk. If any of these works are carried out, it is also possible to obtain the 110% bonus for additional works such as photovoltaic systems, replacement of doors and windows, recharging stations for electric vehicles, etc.
  • The “Restructuring Bonus” is linked to interventions for the recovery of real estate assets. Thanks to the Restructuring Bonus, it is possible to deduct 50% of the expenses incurred up to 31/12/2021, up to a maximum of 96,000 euros. The list of eligible interventions is long, precise and extremely exhaustive to include almost all your property enhancement projects.
Restructuring Bonus: major real estate opportunities in Sardinia

Restructuring Bonus: major real estate opportunities in Sardinia

The big news being that if in the past it was necessary to have taxable income in Italy to take advantage of there deductions, now with the option of transferring the credit, everyone can take advantage of it.,

In addition, the “Rilancio” decree of 2020 has just introduced two major tax changes, valid until 31.12.2021, which make it particularly interesting for a non-Italian to buy a house requiring major work. The decree foresees three possible solutions to spend the BONUSES.

In the specific case of the 110% Super Bonus you can :

1. Use the tax bonus of 110% of the expenses incurred as a deduction. However, this option is not valid if you are a non-Italian resident and do not have to pay income tax in Italy.

2. Opt for a contribution in the form of an invoice remittance applied directly by suppliers whereby the customer pays the invoice with a discount (up to 100% of the total amount) and in exchange the supplier “buys” the tax credit from the customer and then uses it as a deduction.

3. Transfer the tax credit to third parties (such as banks, insurance companies and other organisations). These entities have established an average purchase price of 100% of these tax credits. In addition, in some cases, third parties may provide a loan in advance, which they recover with the premium obtained.

In short: you can buy a home that requires certain works and you can have some of these expenses financed by tax programs. Of course, you need a team of professionals capable of putting together a solid file to access the aids, but also to avoid unpleasant surprises with the Italian tax authorities.

What ResReiSardinia can do for you

Buying a house to renovate is a unique opportunity for those who have always dreamed of living in the Mediterranean. However, this in itself carries with it a significant investment consisting of renovation work and lengthy and cumbersome administrative procedures.

Thanks to our experience and our network of professionals in the field, we can provide you with full support and assistance in your choice of investment, while helping you to draw up your property purchase dossier in Sardinia in order to benefit from all the eligible tax advantages.

Our team includes: property consultants, notaries, surveyors, engineers and architects, builders, specialists in financing and credit transfer.A team to cover all the stages and thus realise your real estate project in Sardinia. It is a realistic solution to have your future home in Sardinia.

Ready to buy to renovate? Please contact us

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