First house - Benefits

1st HOUSE - TAX REDUCTION

Main requirement: the purchase must relate to a non-luxury home (D.M.LL.PP. 2 - 8 -1969).
In the case of a first home purchase, the registration tax is reduced to 2%; Mortgage and cadastral taxes are fixed at a rate of € 50 each.

It is a "First Home" when the following conditions occur jointly:

a) the Buyer must be resident in the municipality where the house is located, or must establish it within 18 months of the deed of sale;

b) The Buyer must not be the exclusive owner even under the legal community of property rights, usufruct, home use of another home in the Municipality where the property to be purchased is located;

c) The Purchaser must not be the owner even for shares even in the regime of legal communion of the rights of ownership, usufruct, use and dwelling and bare ownership, on another house, located in Italy, purchased by him or by his spouse by taking advantage of the current or previous first home benefits.

The concessions are due for the purchase, even if with a separate deed, of the appurtenances, if intended for the service of the dwelling house object of the facilitated purchase (Cat. C / 2 - C / 6 - C / 7) in no greater number to two as long as they are of different categories.
It is also possible to buy rented properties as a first home.


PEEP - Zones 167/62
The purchase price in the PEEP areas L. 167/62 is not free, but established in the original agreement. It is necessary to proceed with the redemption of the building right.


Tax credit for the repurchase of the first home

It is up to those who have sold the non-luxury home, purchased at the time using the benefits provided for the first home for the purposes of registration tax and VAT, and within one year of the sale purchase another non-luxury home. luxury as a first home.

The tax credit is due if the following conditions are met:

- have purchased (also by exchange or contract) a property by taking advantage of the first home benefits;

- the purchase was made within one year of the sale of another property purchased, taking advantage of the first home benefits (or purchased with the application of the VAT rate facilitated by construction companies under the current legislation until May 22, 1993);

- have not forfeited the first home benefit.

The amount of the tax credit is equal to the amount of the registration tax, or VAT, paid in relation to the first subsidized purchase; in any case it cannot be higher than the registration tax or VAT due in relation to the second purchase.


IMU BENEFITS - MUNICIPAL TAX

Municipalities deliberate annually facilitated IMUs. The main residence (registered residence) is exempt.


IRPEF DEDUCTIONS FOR THE FIRST HOME

The income deriving from the real estate unit intended for main residence is not subject to Irpef; there is a deduction from the taxpayer's total income for an amount equal to the amount of the cadastral income of the real estate unit used as a main residence and appurtenances.


MORTGAGES

The deduction concerns the interest expense relating to the mortgages stipulated for the purchase of the main house or other houses or for renovations, but also the accessory charges such as the costs for taking out the loan, and the revaluation quotas, for example. example if there is a clause in the contract that provides for the indexation of the capital.

On mortgages for the purchase of the first home, the law provides for a deduction of 19%, calculated on a maximum amount of € 4,000. The tax deduction can be recognized provided that:

- the property is used as a main residence within one year of purchase;
- the purchase of the real estate unit must be made in the year before or after the date of stipulation of the loan.

The purchase of a leased property does not result in the loss of the right to deduct the interest expense of the loan provided that:

- within three months of the purchase, the tenant has been notified of the license notice or eviction for termination of the lease;
- within one year of the release of the property it is used as a main residence.

The property used as a main residence is considered to be the one in which the taxpayer usually resides (residence).

The deduction for interest expense paid is not lost in the event that the property purchased is subject to building renovation, proven by the building permit or equivalent.

In this case, the deduction is due from the date on which the property is used as a habitual residence, and in any case within two years of purchase.

If the loan is in the name of both spouses, each of them can benefit from the deduction only for their own share of interest; but in the case of a spouse who is fiscally dependent on the other, the deduction is up to the latter for both shares.

If the mortgage has been stipulated by several people, for example husband and wife, the limit of € 4,000 to be reported in the return must be divided between them if the mortgage was taken out after January 1, 1993, while if the mortgage was taken out first, the deduction of 19% on a maximum amount of
€ 4,000 is due to each person who took out the loan.

There are no deductions if the loan is stipulated for the purchase of an appurtenance of the house, for example the garage or cellar.

There is the possibility of deducting interest expense relating to loans for renovation and / or construction of the main house up to a maximum of € 2,582.28.

The deadline for using the property as a main residence is six months from the signing.

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