The 2020 Budget law repealed an important tax law in terms of building renovations. Until last year, those who made use of the ecobonus or sismabonus could anticipate the facilitation on the invoice, thus obtaining a discount from the company responsible for the work (which in turn was reimbursed with a tax credit). This opportunity was canceled from January XNUMX for interventions on individual homes.
NEW ECOBONUS AND SISMABONUS: THE DISADVANTAGES FOR TAXPAYERS…
In essence, taxpayers can no longer monetize the incentive immediately: to enjoy the tax benefit they must wait for the tax return relating to the year in which the building works were invoiced. This change risks having depressive consequences on the renovation market, because many people – without the immediate reduction of costs – will no longer be able to afford to pay the building company and will therefore have to give up the work.
…AND THE BENEFITS FOR SMALL BUSINESSES
On the other hand, the repeal of the possibility of anticipating the discount on invoices restores competitiveness to smaller companies, which did not have the fiscal capacity sufficient to accumulate tax deductions from customers.
DISCOUNT IN THE INVOICE ONLY FOR THE COMMON PARTS
In maneuver (article 1, paragraph 70) however, we read that "starting from 2020 January 200.000, only for major first-level renovations (...) for the common parts of condominium buildings, with an amount of the works equal to or greater than XNUMX euros, the person entitled to the deductions can opt (…) for a contribution of the same amount in the form of a discount on the consideration due, advanced by the supplier who carried out the interventions and reimbursed to the latter in the form of a tax credit to be used exclusively as compensation, in five annual installments of the same amount".
In summary, speaking of ecobonus and sismabonus, the advance of the discount on the invoice is no longer granted for interventions on individual real estate units, but only for the renovations of the common parts of the condominiums and only if the cost of the works is at least 200 thousand euros .
