Extraordinary maintenance, rental and purchase of properties. With the Sblocca-Italia (in the Official Gazette Law Decree n. 133/2014), the Government introduces some concessions that aim to lighten the tax burden on taxpayers and at the same time revive the real estate market. The new provisions were implemented by the Revenue Agency, which therefore modified three of the tax guides that can be consulted on its website in the section "The Agency informs".
Here's what's new:
EXTRAORDINARY MAINTENANCE
Article 17 of the decree provides a broader definition of "extraordinary maintenance" works, including "even those consisting in the splitting up or merging of real estate units with the execution of works even if involving the variation of the surfaces of the individual real estate units, as well as the load planning, provided that the overall volume of the buildings is not modified and the original intended use is maintained".
In the light of this wording, the Revenue Agency has updated the guide "Building renovation: tax benefits", in which it is recalled that "on the provision of services relating to ordinary and extraordinary maintenance interventions carried out on residential properties, there is a facilitated regime, which consists in the application of VAT reduced to 10%”.
RENTALS
The second modification comes into play with article 19 of the Sblocca-Italia, which provides for the exemption "from registration and stamp duties" for the remodulation of the contract, or rather "the registration of the deed with which the parties have exclusively the reduction of the rent of a lease contract still in place".
In the guide "Taxes and homes: leases", the Agency explains in other words that "when the landlord decides to grant a reduction of the initially agreed rent, and the contract is still in force, for the registration of the deed with which is formalized exclusively by this agreement, the registration tax (67 euros) and the stamp duty (16 euros for each sheet) are no longer due.
REAL ESTATE PURCHASE
The latest news is contained in article 21 of the measure passed by the Government and guarantees a discount on Irpef to those who buy properties. In detail, the decree recognizes "a deduction from the total income equal to 20% of the purchase price of the property", up to an "overall maximum expenditure limit of 300 thousand euros", to those who "between 2014 January 31 and 2017 December XNUMX” purchases “residential real estate units, newly built or undergoing building renovations”, sold “by building construction or renovation companies and building cooperatives”.
The Agency dedicates an entire page to this chapter of the guide "Taxation and home: purchase and sale", specifying that the deduction "must be divided into eight annual installments of equal amount (starting from the year in which the contract of lease) and cannot be combined with other tax concessions provided for the same expenses".
Furthermore, “without prejudice to the overall maximum limit of 300 thousand euros – continues the tax authorities – the subsidy is also available for the construction of a house on an already owned building area. Basically, expenses incurred by the individual taxpayer, not carrying out a commercial activity, for the provision of services, dependent on tender contracts, for the construction of a real estate unit for residential use can also be deducted.
