Building Renovation Tax Deduction: Who Qualifies and What You Get
Learn how to claim a tax deduction for renovation expenses in Italy and the specific payment rules you must follow to qualify.
This scheme allows property owners to reduce their tax burden by claiming a portion of the costs spent on home renovations.
Who it's for
This deduction is available to property owners who are carrying out renovation work on their buildings.
What you get
You can receive a tax deduction of 50% on your renovation expenses. There is a maximum limit of €96,000 per project.
What it costs you
While the deduction saves you money on taxes, you must follow strict administrative steps. You are required to provide technical certification for the work and all payments must be made via a specific type of bank transfer.
The catch to know
You cannot use a standard bank transfer for these expenses. To ensure your claim is not rejected, you must use a "bonifico parlante," which is a specialized bank transfer that includes specific details required by the tax authorities.
How to apply
- Ensure your renovation work is supported by the necessary technical certifications.
- Make all payments using the required "bonifico parlante" bank transfer method.
- Keep all receipts and bank documentation as proof of the specific transfer details.
- Consult with a tax professional to include the deduction in your tax return.