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Your lake Garda property market
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Your lake Garda property market
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Subsidies for renovation works

To support the building and construction industry private persons as well as building companies have the possibility of a tax write-off against all renovation works.

This subsidies can be claimed by the owner or proprietor of the property, but also by another member of the family living in the same property. The subsidized amounts are refunded in equal parts within 10 years on the condition of a tax liability in Italy, so that the tax benefits can be settled.

Limits

Originaly the tax write-off was fixed at 36 % with a subsidy cap of 48.000 euros. Already in June 2012 subsidies have been increased to 50 % and even the subsidy cap has been doubled to 96.000 euros! Thanks to the law of stability both have now been prolonged year after year so that the increased subsidies currently are still valid until December 31, 2017.

The following reconstruction and conversion works are entitled to state subsidies

  • Extraordinary maintenance works, reconstruction and restoration works, renovation works

  • Ordinary maintenance works (only for residential housing complexes)

  • Reconstruction work after natural disasters

  • Construction of garages and other parking spaces

  • Removal of architectural barriers (for persons with physical disabilities)

  • Measures aimed at preventing burglary and vandalism
  • Precautions to reduce domestic accidents.
  • Asbestos removal
  • Wiring of buildings

  • Reduction of noise pollution

  • Cost for urbanization
  • Project planning costs

  • Costs of specialist staff

as well as

Good to know

To make use of the possibility of a tax write-off on renovation works and the acquisition of furniture and household appliances, these must be paid exclusively by credit card, credit transfer or postal transfer. Cash payment or payments by cheque and EC-card are not accepted!

  • When paying by credit card, the corresponding account statement has to be preserved
  • When paying by credit or postal transfer, the following information must be provided on the transfer form:
    • Subject of the transfer (depending on the type of payment predefined by the bank)

    • Italian tax code of the receiver of the tax reduction

    • Italian tax code of the receiver of the tax reduction

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