For motorists, saving money is essential, to say the least. You can also do it via your tax return: here’s how.
The much-feared moment is approaching for millions of Italians, that of… tax declaration. This is a crucial moment to say the least. In fact, every year theRevenue Agency requires the compilation of these documents and has recently provided new indications to motorists who allow them to save a lot by simply deducting the costs relating to car transport.
As motorists unfortunately already know very well, there is certainly no shortage of expenses when it comes to cars. Every day one presents itself and it is precisely for this reason that saving is so important. From the one relating to insurance coverage to car tax, from inspection to maintenance costs maintenance without forgetting the increasingly high costs for expenses such as fuel or motorway tolls, expenses are increasingly high and worrying.
But let’s get back to the discussion regarding the tax return. Since car expenses represent a significant portion of a family’s annual expenses, motorists have long been asking for them to be possible deduct these costs, thus reducing the tax burden. But in which cases can this be done and when not?
Car expenses that can be deducted from your tax return
Let’s start this list with the related expenses to the purchase of hybrid and electric vehicles, which present numerous tax breaks. In fact, the government promotes the use of ecological vehicles through incentives that also include deductions from IRPEF. Then there is the case of maintenance and repair costs, both ordinary and extraordinary. You must keep all receipts and invoices to benefit from the discounts.
Then there is the case of insurance. Expenses relating to coverage against the risks of permanent disability caused by road accidents can be deducted, but only if carried out using traceable methods. Finally, there is the case of car tax: the deduction in this case depends on regional regulations.
Conditions for being able to deduct
To benefit from the deductions, it is mandatory to keep all receipts, invoices and documents relating to the expenses incurred. Expenses must always be made via traceable payment methods such as bank transfers, credit cards or electronic payments.
Furthermore, it is necessary to prove that the vehicle is used for professional purposes or in any case that are linked to the taxpayer’s work activity.
