1 What is left of the Superbonus?
The rules for obtaining it have not changed, the convenience of the benefit has changed greatly. This year the size of the bonus is 70% on deductible expenses and next year it will drop to 65%. But, if there are no changes to the rules that are emerging following Legislative Decree 39/24 and the government amendment presented for parliamentary conversion, for all expenses made starting from 1 January 2024 the tax refund will take place in ten years and no longer four. An innovation that definitely changes the accounts of those who are still entitled to transfer credit for the worse.
2 Why?
Because in any financial transaction, time is money, and more than ever when rates are high. Giving a loan of 30 thousand euros at 70% for four years means, approximately, obtaining 17,850. If you sell for 10 years the proceeds, always indicative, are 14,700 euros.
3 So even if you are entitled to the transfer, is it worth opting for the direct deduction on your tax return?
Of course, provided that you have, to stick with the example, 30 thousand euros in cash and you have sufficient fiscal capacity to collect all the credit. In ten years you can collect 6,300 more, albeit in installments. Problems arise if you don’t have the 30 thousand euros or don’t want to spend them. For this reason, the risk of litigation between condominiums and construction companies is high.
4 The example is based on 30 thousand euros, but the numbers say that the costs per real estate unit are much higher…
True, but the vast majority of condominiums that have work underway have actually already completed a good part of their sales in 2023, thus partially protecting themselves.
5 Who is still entitled to the transfer of credit for the Superbonus?
Condominiums who can demonstrate that they have taken the meeting resolution and sent the Cilas by 17 February 2023. They must also demonstrate, with invoices in hand, that they have incurred expenses relating to the works by 31 December 2023.
6 Let’s get to the other bonuses. Who can still take advantage of the credit transfer?
A small group of taxpayers, and mostly these are works related to the architectural barrier bonus. These are works started by December 31st if the works were among those originally supported by the bonus; in some cases, however, the deadline is postponed to 31 March 2024.
7 More in detail?
The Superbonus decree 212/23, which came into force on 30 December last, has “skimmed” the types of subsidized interventions, eliminating for example the replacement of fixtures which in a clever but legitimate way could have been included in the bonus and has limited the use of the transfer to only cases of families with a disabled person or interventions on common areas; Decree 39/24 eliminated the possibility of transfer also for these two cases, but left the possibility to those who had started the work by March 31st.
8 Have the reimbursement rates also changed?
No, 75% remains until the end of 2025 on a roof that goes from a maximum of 50 thousand euros for interventions on individual real estate units to 30 thousand for condominium works where there are more than 8 condominium members. But the repayment duration has been extended from five to ten years.
9 Was the ordinary bonus earthquake also foreseen with reimbursement in five years?
Yes, but now it follows the same path as the Superbonus. Even for this benefit it is no longer possible to use credit, except for earthquake-stricken municipalities and for those who started demolition and reconstruction works aimed at static consolidation before 31 December. Rates and spending ceilings remain unchanged for 2024. Depending on the reduction of seismic risk, up to 85% of spending can be reached on a ceiling of 96 thousand euros. The ceiling rises to 136 thousand euros if the interventions are accompanied by energy saving works.
10 Is everything unchanged also for the ordinary ecobonus and the renovation bonus?
There are no changes to either the rates or the ten-year reimbursements for the whole of 2024. The ecobonus can reach 75% on a spending ceiling depending on the types of intervention while the restructuring bonus facilitates expenses up to 96 thousand euros with 50%. . No assignment of credit is possible. Linked to the renovation bonus is the furnishings bonus. This year it allows you to obtain 50% in 10 years on a maximum ceiling of 5,000 euros but next year it will not be offered again.
11 What will happen in 2025?
Only the Superbonus and the architectural barrier bonus will remain in force for one more year at the current rates. Earthquake and ecobonus will be reabsorbed by the renovation bonus, and all will allow only 36% to be deducted and only up to a ceiling of 48 thousand euros. We remind you that individual gas boilers can no longer be supported by the tax authorities in any way. Further tightening expected starting from 2028, when the rate will drop to 30%.
12 What consequences are foreseeable?
The scenario is very complicated because, barring changes at the EU level, Italy will have to somehow implement the EU directive on green homes and forcing owners to carry out very expensive work without a substantial public contribution appears truly problematic. And in any case it is likely that in terms of work not carried out – or not invoiced – the cost to the State for the failure to collect IRPEF, IRES and VAT will be greater than the savings resulting from the lower reimbursement.
