The first home bonus under 36 was implemented with the Sostegni bis Decree, DL n. 73/2021, with the aim of establishing a set of tax benefits for young people under the age of 36 who purchase a property
in the municipality of residence.
But what are the latest updates, also considering the recent fall of the Government?
Who is entitled to access criteria?
Here is a summary of the rules and, therefore, the criteria for accessing the first home bonus:
- Age not exceeding 36 years.
- ISEE not exceeding 40 thousand euros.
- Time bracket for purchasing your first home: 26 May 2021 – 31 December 2022.
The news
The new bonus also applies to appliances, for example the garage; furthermore, registration, mortgage and cadastral taxes are cancelled, even for deeds subject to VAT.
In particular:
- for purchases not subject to VAT, there is an exemption from paying registration, mortgage and cadastral tax;
- for purchases subject to VAT, a tax credit is provided equal to the tax paid for the purchase, to be used to subtract the taxes linked to deeds, reports and tax returns subsequent to the date of purchase, via F24;
- the substitute tax for registration, stamp duty, mortgage and land registry duties and taxes on government concessions is not due.
Thanks to the bonus, exemption from substitute tax is granted for mortgages granted for the purchase, construction and renovation of houses for residential use.
Which category of home is included in the first home bonus?
The benefit is provided for properties in the cadastral categories:
A/2 – Civil type dwelling
A/3 – Economic type housing
A/4 – Social housing
A/5 – Ultra-popular housing
A/6 – Rural type homes
A/7 – Homes in villas
A/11 – Houses and accommodation typical of the places
It also concerns the relevance of categories C2, C6 and C7 (on a single relevance).
When does the first home bonus under 36 expire?
We remind you that the deadline is scheduled for December 31, 2022; by this date, you will have to proceed with the purchase of your first home, to take advantage of the bonus reserved for under 36s.
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What are the deadlines for changing residence after the deed?
The transfer of residence to the newly purchased home is not a legal obligation, but is used to take advantage of the benefits linked to the first home bonus.
In order to use it, you must indicate the house where you usually live and the change must be made within 18 months
from the date on which the deed is stipulated.
It should be noted that the taxpayer is required to consider the timing and any delays that may arise during the renovation of the new home, since they do not represent a reason to postpone the change of residence.
What to pay attention to?
There are two aspects to pay particular attention to:
- it is not necessary to change residence when the new property is located in the same municipality where the taxpayer works. Also in this case it is, in fact, possible to obtain the first home bonus.
- The residence does not necessarily have to be the one where the new home is located, but can be located in another street, provided that it falls within the same municipality. This is one of the reasons why it is possible to take advantage of the first home bonus, even when the newly purchased property is intended for rent.
First home bonus: what happens if the deadlines are not respected?
Anyone who does not change residence and transfer within 18 months loses the tax benefits obtained at the time of the sale. In this case, the taxpayer is required to pay:
- the difference between the reduced taxes paid and those due in full for the deed;
- a fine equal to 30% of the amount indicated in the previous point.
There are cases in which the delay for changing residence is justified.
In particular, reference is made to causes of force majeure which do not directly depend on the will of the interested party, such as the failure to release the property by the previous owner.
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
Cadoneghe (PD) - 35010 - Via G. Franco, 2/A
e-mail: cadoneghe@grimaldifranchising.it
tel. +39 049 88 736 56 - VAT number 05322440289