110% eco-bonus. The same percentage also for the earthquake bonus. This is one of the most important innovations that the expected May decree (or Relaunch decree) that the Government is about to approve should bring with it. A maxi incentive, contained in a package of interventions "on the house” aimed at triggering a shock strong enough to keep the construction sector on its feet and restart it, already weakened by years of recession, grappling with the economic crisis due to the coronavirus
If the draft circulated in the last few hours were to be definitively confirmed, it would be an impressive (and very expensive) intervention, which would radically change the functioning mechanism of ecobonus and sismabonus.
Here how it works today, how it will work after the May decree and what are the main changes.
110% ECOBONUS: THE NEWS MAIN
One of the most important innovations of the May decree will concern the eco-bonus valid on energy efficiency interventions in buildings. To date, the deduction is 65% (recoverable in 10 years) on interventions relating to the technical insulation of buildings, the replacement of an old boiler with a new condensing or heat pump one. For other types of jobs, the bonus drops to 50%.
With the May decree, the deduction rate should rise to 110% and can be applied to all energy redevelopment interventions, the installation of solar or photovoltaic panels, the renovation of the facades (on which there is currently a 90% bonus), the replacement of windows. The only condition: the construction of at least one of these three interventions must be included in the works: thermal coat of the building, condensing boiler or heat pump boiler.
According to the indications, the 110% eco-bonus will be valid on expenses incurred starting from 1 July 2020 and up to 31 December 2021. The deduction can be recovered in 5 equal annual installments. However, there are two other options: the transfer of credit or the discount on the invoice. And it is precisely here, as well as the increase in the rate and the inclusion of "minor works" that the main novelty of the decree lies.
ECOBONUS 110%: CREDIT TRANSFER
The current legislation on the ecobonus provides that for energy efficiency interventions (both on the common parts of condominiums and on the individual building) the deduction due can be transferred to suppliers or other private entities. To the incompetent tax payers, ie those who in the reference year are entitled to higher tax deductions than the taxes to be paid, are granted the possibility of transferring the credit also to banks or financial intermediaries.
With the new decree instead all taxpayers (and therefore not only the incompetent) will be able to transfer the credit corresponding to the eco-bonus to the banks or to the companies that carry out the works.
110% ECOBONUS: THE DISCOUNT ON THE INVOICE
In addition to the possibility of transferring the credit deriving from the eco-bonus, the May decree should also provide for important innovations on the discount on the invoice.
The 2020 Budget law limited the possibility of taxpayers to take advantage of one discount on invoice only to "major first-level renovations" carried out on the common parts of condominiums for a total amount equal to or greater than 200 thousand euros.
With the new decree instead all taxpayers will be able to take advantage of an immediate discount on the invoice equal to 100% of the cost of the works by the company. Simply put: you won't have to take out a euro. The company responsible for the renovation works will, in turn, be able to transfer credit to banks and third parties for an unlimited number of times (today there are only two) in order to immediately recover the liquidity necessary to cover the costs. The mechanism is therefore simple: the company, by applying a 100% discount, will advance the cost of the works but will receive a tax credit equal to 110% which it can also "pass" to banks or other entities.
SISMABONUS: WHAT CHANGES
Similar innovations are also envisaged for the sismabonus, i.e. the tax relief valid in the seismic zone 2-3-4 for works aimed at improving the seismic class of the building. Currently the deduction (spread over 5 years) is 70% if the seismic class improves by one point and 75% if two classes are earned. In the event that the interventions concern the common parts of the condominiums, the increase is respectively 80% (if one class is earned) and 85% (if the improvement is two).
With the May decree for any intervention that will increase the seismic class of buildings, a tax deduction of 110% can be used. Not only that: every condominium will be able to transfer the deduction in the form of a tax credit to the companies that carry out the works, to private entities, but also to banks, financial intermediaries and public administrations. The rules described above for the immediate discount on the invoice will also apply to the sismabonus.
110% SIDES BONUS
Finally, the deduction rate valid for the facade bonus and relating to works that also involve the improvement of the energy class or the anti-seismic performance of buildings will also rise from 90% to 110%. We remind you that the deduction applies to properties in areas of intense urbanization that overlook public spaces.
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Good morning,
I would like to know how to get the deduction for installing a water purifier.
thanks
but the repayment in 5 annual installments takes the form of a bank transfer to your current account?
sorry but I'm doing an extraordinary renovation and I will install fixtures between July and August, do I return to this eco-bonus only for the expenses incurred from July onwards? Does the down payment I've already paid to order the material fall within the old bonus with a 50% deduction?
Matteo
I state that I am a flat-rate freelancer and therefore subject to a flat tax.
In my apartment building we are discussing the renovation of the facade and evaluating the thermal coat,
I don't understand, however, if in my position I can benefit from the transfer of the tax credit or the discount on the invoice.
thanks
Marco
same problem as me. I'll follow if there are any answers!
The 110% discount is logical folly. No one has an interest in checking the invoices of a construction company that does not have to pay, but will only have an interest in having the most expensive finishes, which will pay for the state, in addition to the heat recovery that guarantees the discount, be made: like an insulating coat for the building made of ermine fur and cipollino marble finish.
The company would then have the state pay 6 times the normal cost, due to the difficulty of finding all the ermine for the condominium facade, and for the costs of transporting the stones from the split marble quarry.
Finally, the State, burdened by 2 million reimbursement procedures in the first year, would not be able to control the requests except with a sample out of 1000, reducing us 20 billion a year….
There will be a limit (ceiling) deductible based on the type of work.
I apologize but I would prefer something clearer about the ecobonus. Thanksennio
Ottimo
For the bonus earthquake, does the deduction in the form of transferable credit also apply to buildings for private use?