Not only ecobonus. Among the many tax breaks that concern the home, one of the most significant - and least known - is the furniture bonuses. This is an incentive that could guarantee considerable savings for many Italians, while at the same time promoting the recovery of a sector still in trouble. But how does it work?
To explain this to Italians, the Ministry of the Economy has launched an information campaign in collaboration with Federmobili, FederlegnoArredo and the National Consultation of Cafés. Here is the presentation video:
Below, however, the guide published on the site bonusarredi.it.
WHAT IS THE FURNITURE BONUS
The furnishing bonus is an Irpef deduction for the purchase of furniture and large appliances of class no lower than A+ (A for ovens), intended to furnish a building undergoing renovation. The deduction must be calculated on a maximum amount of 10 thousand euros, including any transport and assembly costs, and must be divided into ten equal annual installments. Payment must be made by bank transfer or debit or credit card.
To take advantage of the subsidy it is necessary that the start date of the works is prior to the one in which the expenses for the purchase of furniture and large appliances are incurred.
WHO CARES
Those who buy new furniture and appliances in 2018 and have carried out building renovations since 2017 January XNUMX can benefit from the furnishing bonus.
Regardless of the amount of expenses incurred for the renovation works, it is possible to benefit from a 50% deduction calculated on a maximum amount of 10 thousand euros, referring overall to the expenses incurred for the purchase of furniture and large appliances.
The limit of 10 thousand euros concerns the single real estate unit, including the appurtenances, or the common part of the building undergoing renovation. Therefore, the taxpayer who carries out renovation works on several real estate units will be entitled to the benefit several times.
WHICH GOODS
The deduction is for expenses incurred up to 31 December 2018 for the purchase of:
- new furniture
- large new appliances with energy class no lower than A+, (A for ovens), for appliances for which the energy label is required.
By way of example, eligible furniture includes beds, wardrobes, chests of drawers, bookcases, desks, tables, chairs, bedside tables, sofas, armchairs, sideboards, as well as mattresses and lighting fixtures which constitute a necessary completion of the furnishing of the property object of restructuring.
On the other hand, purchases of doors, flooring (for example, parquet), curtains and drapes, as well as other furnishing accessories are not eligible.
As far as large appliances are concerned, the law limits the benefit to the purchase of types with an energy label of class A+ or higher, A or higher for ovens, if the energy label is mandatory for those types. The purchase of large appliances without an energy label can only be facilitated if the energy label obligation is not yet envisaged for that type. For example, large household appliances include: refrigerators, freezers, washing machines, dryers, dishwashers, cooking appliances, electric stoves, electric hotplates, microwave ovens, electric heating appliances, electric radiators, electric fans, air conditioning appliances .
The amount of expenses incurred for the purchase of furniture and large appliances can also include the costs of transport and assembly of the goods purchased, provided that the expenses themselves were incurred with the payment methods required to benefit from the deduction (bank transfer, credit or debit cards.
FULFILLMENTS
To obtain the deduction, payments must be made by bank transfer or debit or credit card. However, it is not permitted to pay with bank cheques, cash or other means of payment. If payment is made by bank or ordinary postal transfer, it is not necessary to use the one (subject to withholding tax) specially prepared by banks and Poste Spa for building renovation costs.
The deduction is allowed even if the assets were purchased with a loan in installments, on condition that the company issuing the loan pays the amount in the same way as indicated above and the taxpayer has a copy of the payment receipt.
The documents to be kept are:
- proof of payment (transfer receipt, receipt of transaction, for payments by credit or debit card, debit documentation on the current account)
- the invoices for the purchase of the goods, showing the nature, quality and quantity of the goods and services acquired.
The receipt bearing the purchaser's tax code, together with an indication of the nature, quality and quantity of the goods purchased, is equivalent to the invoice.
By complying with all these provisions, the deduction can also be used in the case of furniture and large appliances purchased abroad.
TO KNOW MORE
If you want to know the steps to follow to request the subsidy, read the information sheet on the Revenue Agency website. To learn more about the furniture bonus, download the PDF guide by the tax authorities.
