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Stability law 2015

05 January 2015

On December 30, 2014 the stability law 2015 was passed. It does not entail any major changes for property owners:

State subsidies for conversion and refurbishment to properties

As was expected, the bonus Ristrutturazioni, a state subsidy which makes tax deductions of up to 50 % available to numerous types of conversion and refurbishment work to properties, the EcoBonus, which provides the possibility of a tax write-off of 65 % on measures to reduce the energy consumption, and the Bonus Mobili, for the acquisition of furniture and large electrical appliances of energy class A+, were extended until December 31, 2015. Moreover, after lengthy discussions, it was finally decided that the maximum subsidy cap of the Bonus Mobili of 10.000 Euros is independent of the amount spent on conversion works. A novelty, however, is the section on the increase of the depreciation rate of 65 % for measurements to apply current earthquake standards. So far, this rate amounted to only 50 %. For more information regarding this topic click here.

Local service charge TASI

For the local service charge TASI, which was introduced in 2014, the maximum tax rate of 0,25 % will be applied in 2015. However, in 2015 just as in every other year, modifications and changes to the local service charge are scheduled for the year ahead. The objective is to unite the service charge TASI and the local tax IMU.

Moreover, the stability law already includes a timetable for yet another increase in VAT, which will come into effect should the expected saving of costs not materialize in spite of the special measures taken. In this case, VAT will gradually increase. In a first step, on June 01, 2016, it will increase by 2 % from 10 % to 12 % and from 22 % to 24 %, only to be further increased in a second step to 13 % and 25 % another 12 months later, on July 01, 2017. As buying property directly from the building contractor is subject to VAT, prospective buyers should keep a close eye on developments on this front!

Further news regarding italian legislation