The clarifications have arrived on first home bonus for young people under 36.
The Revenue Agency, with the circular number 14 of 18 Juneprovides instructions for several specific cases after the extension provided for by Millerororghe decree and the related conversion law.
Specifically, the instructions to follow in the event of the contract are provided preliminary has been stipulated by 31 December 2023 and the deed has been signed between January 1 and February 29, 2024.
Taxpayers will receive a tax credit to be used starting from 2025but it will not be recognized automatically.
First home bonus under 36: clarifications for those who signed the deed between 1 January and 29 February 2024
Instructions relating to the first home bonus for young people under 36 were provided in circular number 14 of 18 June.
The practice document is eagerly awaited in light of the extension foreseen by the Milleproroghe decree and confirmed by the relevant conversion law.
The benefit in fact provides for exemption from the payment of registration, mortgage and cadastral taxes in the case of purchasing a first home in compliance with the following requirements:
- that the buyer has not completed the 36th year of age in the year of the deed;
- that the same has an ISEE not exceeding 40,000 euros.
The deadline for the relief was set at December 31, 2023However, the milleproroghe decree has also extended the relief to those who have signed the preliminary sale agreement by the end of last year, provided that the deed is signed by 31 December 2024.
The circular therefore focuses, among the points addressed, on the possibility for the latter to obtain the benefit if they have stipulated the deed between 1 January and 29 February 2024.
A is recognized tax creditusable in 2025, with an amount equal to the excess taxes paid.
However, obtaining it will not be automatic. In fact, the practice document states the following:
“The use of the credit presupposes, in fact, that the taxpayer makes a declaration to the notary, with a supplementary deed drawn up according to the same legal formalities as the transfer deed, in which he expresses his desire to take advantage of the “first home under 36” tax benefits and declare that you possess the relevant requirements required by law.”
The supplementary deed, as explained by the Financial Administration:
- must contain the taxpayer’s declaration that he is in possession of the certification ISEE valid in 2024 or that you have already requested it, by submitting a specific DSU;
- it must also be stipulated on a date after 31 December 2024 but within the deadline of use of the tax credit;
- is exempt fromregistration taxsince it is stipulated to obtain tax benefits.
This point is not the only one addressed in the published clarifications.
- Revenue Agency – Circular number 14 of 18 June 2024
- Circular with clarifications on the first home bonus for young people under 36.
First home bonus under 36: clarifications on the ISEE certificate
They are different clarifications provided by circular number 14 of 18 June.
The practice document is structured as follows:
- premise;
- extension of the relief “first home under 36”;
- ISEE;
- credit for taxes paid in excess pursuant to article 3, paragraph 12-quaterdecies, of the Milleproroghe decree;
- purchase of property following a judicial order;
- tax credit from repurchase referred to in article 7, paragraphs 1 and 2, of law 23 December 1998, n. 448.
As clarified in the document of practice, for those who have stipulated the preliminary purchase and sale agreement by 31 December 2023 and the deed between 1 January and 29 February 2024, in compliance with the personal data and ISEE requirements, the recognition of a tax credit in relation to the following taxes:
- registration, mortgage and cadastral taxesgross of any proportional registration taxes paid in relation to advances and confirmation deposits when registering the preliminary contract;
- toVAT.
The practice document also specifies that:
“Furthermore, taking into account the rationale of the law, it is believed that the tax benefit in question is also due to the buyer for an amount equal to the tax on medium/long-term financing – paid by banks or financial intermediaries pursuant to the articles 15 and following of Presidential Decree n. 601 of 1973 – charged to the same for the loan disbursed in relation to the property covered by the “under 36″ subsidy.”
Regarding the VAT declaration, the Revenue Agency’s document of practice clarifies that the taxpayer must be in possession of theISEE certificate valid in 2024. If he does not have one, he must have requested it by submitting the DSU.
In other words, the ISEE 2024 must be presented, which is currently valid, provided that the family is the same as that of the buyer who stipulated the preliminary sales contract.
First home bonus under 36: clarifications on properties purchased at auction
In the recent practice document, the Revenue Agency also provides clarifications regarding the purchase of houses through real estate auctions.
In this case they are not foreseen extensive readings of the facilitation rulewhich is considered to be of strict interpretation.
The provisions of the Milleproroghe decree do not apply to the hypothesis in which:
“the taxpayer acquires the right to the property by virtue of an award report drawn up in 2023, if the subsequent real estate transfer decree is issued in 2024.”
As clarified by the Revenue Agency, the rules are not susceptible to “hermeneutic integration transcending the semantic boundaries of the expressed normative data”.
The benefit is therefore recognized exclusively on condition that:
- The preliminary purchase contract was stipulated by 31 December 2023;
- The deed is stipulated by 31 December 2024.
The government’s commitment has therefore not been translated into law and, consequently, the relief cannot be applied.
