The Government has introduced a super tax on homes which worries taxpayers, although there are cases in which it can be avoided.
The new super house tax introduced by the executive has alarmed Italians. However, there are standard criteria for obtaining an exemption from this dreaded tax owed to the State. The super tax is linked to one of the most controversial bonuses of recent years: the Super bonus 110%. The tax measure which allowed many taxpayers to deduct 110% of the costs incurred for building renovation work has been harshly criticized by the current Government.
For the center-right executive, the Superbonus proved to be unfair. Furthermore, again according to the majority forces, the measure revealed too high a cost for the public budget faced with a very high risk of speculation.
That’s why the super home tax hit was introduced who sells a renovated property with the 110% Superbonus within ten years from the end of the works. According to this new rule, those who sell will have to pay 26% tax on the entire capital gain realized, without being able to discount the cost of subsidized works.
Clearly, taxation was introduced to target the refurbishment and resale interventions executed with speculative intent. The super tax would therefore aim to regulate the capital gains generated by certain interventions, to avoid the most serious real estate speculation and to recover some funds for the State.
How to avoid the super tax on the house: clarifications from the Revenue Agency
The tax in question applies mainly to buying and selling operations which materialize within ten years of the completion of the renovation works. But the Revenue Agency has already explained that the properties that were used as a first home for most of the decade preceding the sale are exempt from this tax.
Therefore, if the house has been used as a main residence by the person wanting to sell (or their family members) for most of the ten years preceding the sale, the tax does not apply. According to current provisions, properties obtained through inheritance are also exempt from the tax.
Even properties affected by renovations other than the 110% bonus are not subject to the super tax.
Only those who carried out the renovations to speculate, perhaps buying, will be affected at a very low price and then resell at high prices. It remains to be seen whether the tax will lead to the desired results and whether it will be able to create a balance between supporting the energy efficiency of buildings and the need to guarantee tax revenues for the State.
