You no longer pay taxes on your home, but only in one case. Here’s how to pay less and why you could be entitled to it too.
Not having to pay taxes is always good news for all Italians who, as always, are caught in the grip of a taxation that is much higher than many can bear. This is the time of year when everyone has to fill out the model 730/2024.
This is the document that determines the amounts to be paid for the current year, in terms of taxation. Subsequently, payments will be made for the advance payments.
Then go and indicate in the correct way the amounts of the goods owned and the income receivedis essential to be able to have the correct indications, as regards taxation. It is remembered that obviously, within the income in possession there are also real estate, such as the house.
But there would be a specific case where the house should not be included in the count for the tax to pay because it doesn’t generate income. Here’s what you need to know about it.
The house does not generate income
If you renovate your home, this should not be considered as a source of income. In short, if you have restructured the property, then it is not included in the 730 model. An important element both for what concerns tax deductions and the determination of income.
This would happen because it is considered that during the renovation period the dwelling is not a source of income. For this reason it cannot be influential in determining the amount of taxation that must be faced.
The possibility of availing of the benefit
At this point we wonder how it is possible to take advantage of this specific benefit. First of all, during the renovation period the property must not be inhabited and therefore must not really be a source of income. Furthermore, it is necessary to be in possession of licenses, concessions and authorizations for restoration.
When all the conditions are met, then it will be possible not to indicate the property in the 730 form in which the income from buildings is indicated.
