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Engel & Völkers Licence Partner Treviso > Blog > Bonus facades 2020: an opportunity not to be missed

Bonus facades 2020: an opportunity not to be missed

Important deduction (90%) for the refurbishment of the external facades of buildings. Everyone will enjoy it, from historic buildings to luxury homes and villas

It is time for Treviso to restore its marvelous historic buildings to ancient splendor.

All this will be possible thanks to an important tax relief that is hidden among the folds of the latest budget law and that seems tailor-made for a city like Treviso.

It is the so-called facades bonus 2020, the new tax discount to beautify city buildings that allows you to recover 90% of the costs incurred in 2020 without a maximum spending limit and from which everyone can benefit: not just tenants and homeowners and apartments in Treviso, but also residents and non-residents of the area, individuals and businesses.

 Treviso
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No limit even on the cadastral category: they are all allowed. The only fundamental condition is that the properties are located in the areas A and B indicated. And zone A is precisely what interests us, as officially expressed: “it includes the parts of the territory affected by urban agglomerations that are historical, artistic or of particular environmental value or by portions of them, including the surrounding areas, which can be considered for these characteristics, an integral part of the agglomerations themselves ".

Let's see in detail the interventions included in the bonus for the external facades renovation. An interesting opportunity for those who have recently purchased houses for sale in Treviso and want to further increase their value, but also for those who are still deciding.

FACADE BONUS 2020: DEDUCTABLE INTERVENTIONS

Works carried out for the renewal and consolidation of the external facade are facilitated, including simple cleaning and painting, and interventions on balconies, ornaments and friezes.

Other interventions for urban decoration such as those on gutters, downspouts, parapets and cornices also benefit from the deduction. As well as all related expenses: from the purchase of materials to the design and other related services, up to the installation of the scaffolding, the disposal of materials, and then VAT, stamp duty, rights paid for the request for housing permits, tax for occupation of public land.

FACADE BONUS: HOW IT WORKS

The deduction is recognized to the extent of 90% of the documented expenses incurred in the year 2020 or, for subjects with a tax period not coinciding with the calendar year, in the tax period in progress on December 31, 2020. 

The deduction will be divided into 10 annual installments. Unlike other concessions for interventions carried out on buildings, there are no maximum spending limits or a maximum deduction for the facades 2020 bonus.

All resident and non-resident taxpayers can use the deduction, even if they have business income, who bear the costs for the execution of the facilitated interventions and who own the property subject to intervention for any reason. Natural persons, therefore, but also public and private entities that do not carry out commercial activities, simple companies, associations between professionals, partnerships and joint stock companies. The deduction cannot be used by those who have only income subject to separate taxation or substitute tax.

For interventions carried out on the common parts of a condominium building, the requirements necessary to take advantage of the bonus 2020 facades can be carried out by one of the condominiums, delegated for this purpose, or by the administrator of the condominium.

To qualify for the deduction, payments must be made by bank or postal transfer showing the reason for the payment, the tax code of the beneficiary of the deduction, VAT number or the tax code of the person in whose favor the transfer is made (company or professional who carried out the works).

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Engel & Völkers
Licence Partner Treviso
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    31100 Treviso
    Italy - P.Iva 03159030125

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