Government subsidy on property renovation - watch out for deadlines!

The 2020 and 2021 Government Budget provide for various benefits for those who carry out building renovation, restoration, conservation and safety measures on the property.

Let's find out which ones may still be requested next year:

Superbonus 110%, which includes the restructuring bonus, has been extended until 30th June 2022 for those who intend to take advantage of the deductions relating to their single-family unit, while for condominiums the times extend until 31st December 2022. In the first case, whether at least 60% of the project work has already been carried out, it will be possible to enjoy an extension of six months.
“Renovation bonus" is the tax relief that provides for a 50% deduction, up to the spending limit of 96,000 euros, for building renovation works. It is recognized for taxpayers who carry out ordinary and extraordinary maintenance work inside the condominium or individual buildings.
“Furniture and appliances bonus" is also part of the renovation bonus, which consists of an income tax deduction of 50% of the expenditure on a maximum amount of 16,000 euros for the purchase of furniture and appliances of at least A + class, intended for furnishing of a building undergoing renovation.

Currently, the Ecobonus for the energy redevelopment of individual real estate units, which also affects the "Green bonus" for gardens and terraces and the "Facade bonus", expires on 31st December 2021. This one, introduced by the 2020 government budget to beautify the buildings of our cities, allows to recover 90% of the costs incurred in 2020 and 2021 without a maximum spending limit and can benefit everyone. The communication must be sent by March 16th of the year following the one in which the expenses that give the right to the deduction were incurred.

Even the replacement of the fixtures is one of the most requested interventions of recent times, in this regard there are particular tax incentives. The spending limit for this type of intervention is set at 60,000 euros for each real estate unit and the deduction always corresponds to 50%. In this case, the incentive is valid only for some specific cases:

-    the fixtures must be installed together with one of the so-called "driving interventions", such as the thermal coat or the heat pump that replaces the traditional boiler;
-    it is necessary to improve the energy class of the building by two levels.

Another concession expiring in December 2021 is the "safety bonus", which recognizes a deduction of 50% on the costs incurred for the safety of one's home, with a maximum spending limit of 96,000 euros for each real estate unit.

Whatever bonuses are best suited to your needs, we advise you to keep the respective deadlines in mind so as not to run into unpleasant surprises.