Tax deductions for restructuring

Tax deductions for restructuring

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Tax deductions for restructuring: with the 2014 Stability Law (Law n. 147 of 27 December 2013,published onOfficial Journalgeneral series n. 302 of 27/12/2013 - Ordinary Supplement n. 87, the deadline for thetax deductionsonrenovationand theenergy requalificationof buildings.

Thetax incentives for restructuringto be applied in the tax return 2014 (the one that is made between May and June 2015) sees apersonal income tax deduction50% if the recovery intervention was sustained by 31 December 2014.

Thetax deductions for restructuringwill go, from year to year, going down with a percentage of 40% for those who decide torenovatehome in 2015 and then dropped to 36% in 2016 with a spending limit reduced to 48,000 euros. Learn more aboutEcobonus.

How much is the tax deduction for restructuring:

  • 50% for interventions of renovation incurred by 31/12/2014; the tax relief rises to 65% if the restructuring has included aenergy requalificationof the building.
  • 40% for interventions carried out by 31/12/2015; the tax relief rises to 50% if i workrenovationhave seen the improvement ofenergy efficiency of the building.
  • 36% for interventions carried out by 31/12/2016; whether it is mererenovationwhether it isenergy requalification.
  • Others Facilities Restructuring

Which interventions can accesstax deductions:
Thetax deductionsare foreseen on different types of intervention:maintenance,renovations, redevelopment, restoration and conservative rehabilitation. Thetax deductionsin question cover up to a spending limit of 96,000 euros until 2015 while for the interventions supported in 2016 the maximum ceiling is 48,000 euros.

They fall within thetax breaksalso the expenses incurred for the elimination of architectural barriers and for the prevention of unlawful acts of third parties (for example, those who install a security door or decide to install security bars on the windows ...).

They access thetax deductionsin addition, the interventions implemented to reduce noise pollution, anti-seismic measures, to reduce domestic injuries and to save energy.

The same measure of law providestax deductionsfor the construction of parking spaces or garages pertaining to homes and for the reconstruction or restoration of buildings that have suffered damage as a result of natural disasters.

Tax deductionsfor the purchase of household appliances
There are also incentives for those who buy household appliances for the property being renovated, in this case the maximum cost is 10 thousand euros.

How to apply for tax deductions
At the time of the tax return, it will be necessary to fill in the items on the pre-printed form (Single Model for freelancers, 740, 730…). For details, please refer to the article onIrpef deductions.

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