Here’s how to get a bonus for redecorating your home without spending a fortune: all those eligible have these specific requirements.
We hear about it, but not everyone knows how to access it. This is the furniture bonus, a tax measure that allows taxpayers to recover part of the expenses incurred for the purchase of furniture and large appliances intended for furnishing a property undergoing renovation. A real tax break, which provides, in this case, the possibility of deducting 50% of the expenditure incurred, up to a maximum established by the legislation itself.
Different categories of subjects can access the 2024 furniture bonus deduction. Here is the detailed list. Property owners: anyone who owns a property can take advantage of the furniture bonus. Holders of real rights on real estate: this includes those who have rights of use, usufruct, habitation or surface area on the property. Owners of bare ownership: those who hold bare ownership of a property, even if they do not have direct possession of it. Tenants or borrowers: those who live in rent or who have received the property on loan for use can request the bonus. Cooperative members: both in divided and undivided cooperatives, members can access the bonus. Members of simple companies: shareholders of these companies can benefit from the deduction. Individual entrepreneurs: individual entrepreneurs can take advantage of the bonus as long as the property is not for instrumental use (not used exclusively for business activity).
Here’s how the bonus works in detail, you can save thousands of euros
A bonus that is convenient for everyone, here’s how it works and how to get it quickly and easily. It must be taken into account that the maximum allowable expenditure is that the deduction is calculated on a maximum expenditure amount, which may vary from year to year. For example, if the limit is set at €10,000, the maximum deduction will be €5,000. Furthermore, the deduction is applied to the IRPEF (Income Tax of Individuals) and is divided into ten annual installments of the same amount. So, if you spend €5,000, you get back €2,500, which is divided into €250 per year for 10 years.
To take advantage of the furniture bonus, the property for which the furniture or appliances are intended must be the subject of building renovation work. The costs for the renovation must be paid before those for the purchase of the furniture. Again, to obtain the deduction, it is important to keep the purchase invoices and payments must be made by wire transfer, debit card or credit card. Payments in cash or by other means are not permitted.
Let’s take a practical example:
- Expenditure incurred in 2024: €5,000
- Expected deduction: 50% of the expense = €2,500
- Recovery Mode: €250 per year for 10 years starting from 2025
This means that, by entering the expense incurred in your 2025 tax return, you will be able to start benefiting from the deduction, reducing the IRPEF due by €250 per year for ten years.
