The Revenue Agency, with circular no. 14/E, has published the new instructions regarding the “first home under 36” bonus, a benefit designed to encourage the purchase of their first home by young people with an ISEE not exceeding 40 thousand euros.
This type of facilitation is confirmed as aimportant benefit in an economic context that makes access to the real estate market increasingly difficult for new generations.
The recent circular, in light of the latest extension until 31 December 2024, provides essential details for those who have registered the preliminary by 31 December 2023.
The "first home under 36" bonus will be available until 31 December 2024, provided that the preliminary contract was registered in 2023.
Circular no. 14/E clarifies that for definitive deeds stipulated between 1 January 2024 and 29 February 2024 (date of entry into force of the law converting the Milleproroghe decree), a tax credit will be recognised.
This credit, usable in 2025, will equal the excess taxes paid.
To benefit from the tax credit, taxpayers will have to make a declaration to the notary through a supplementary deed, in which they will express their desire to take advantage of the benefit and declare that they possess the necessary requirements.
This supplementary deed can also be stipulated after 31 December 2024, but within the deadline for using the tax credit.
In order to access the bonus, it is necessary to have, at the time of the deed, an ISEE value of no more than 40 thousand euros per year.
The circular specifies that for deeds stipulated before the entry into force of the extension, it is possible to demonstrate compliance with the requirements even if the valid ISEE is obtained subsequently, as long as it refers to the same family unit present on the date of signature of the deed.
Operational indications
In light of this latest circular issued by the Revenue Agency, we report the operational indications:
Final documents between 1 January and 29 February 2024: if the taxpayer does not have a valid ISEE certification in the deed, he can present it later, referring to the same family unit.
The tax credit is not automatic: buyers must make a declaration to the notary to obtain the tax credit.
Declaration to the notary: the supplementary deed must express the desire to avail of the benefit and declare possession of the requirements.
ISEE certificate: the document must indicate the protocol number of the valid ISEE certificate or DSU presented.
Stipulation of supplementary deed after 31 December 2024: the supplementary deed can be stipulated subsequently, as long as it is within the deadline for using the tax credit.
Exemption from registration tax: the supplementary deed is exempt from registration tax.
Use of the tax credit: recognized for registration, mortgage and cadastral taxes, VAT and financing tax.
Tax benefit not applicable; not applicable if the right to the property derives from an award report from 2023 with a transfer decree in 2024.
Purchase subject to registration tax: the tax credit used is not considered for the accrual of the repurchase credit.
Purchase subject to VAT: the taxpayer can benefit from the tax credit for the net amount of taxes paid.
Final documents from 1 March 2024 to 31 December 2024: the clarifications of circular no. continue to apply. 12/E of 2021 on the regulation of the buyback tax credit.
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
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e-mail: cadoneghe@grimaldifranchising.it
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