Renovation Tax Deduction: Who Qualifies and What You Get
Learn how you can claim a tax deduction on costs related to home renovations in Italy and what you need to keep to ensure you qualify.
This scheme allows you to reduce your tax burden by claiming a portion of the money you spend on renovating your home.
Who it's for
This benefit is available to both homeowners and tenants.
What you get
You can receive a tax deduction equal to 50% of your renovation costs.
What it costs you
To qualify, you cannot simply pay cash or use a standard transfer. You must pay for the work using a specific type of bank transfer known as a 'bonifico parlante' (a bank transfer designed for tax purposes).
The catch to know
You are required to keep all your invoices and bank receipts for a period of 10 years to prove your eligibility if requested.
How to apply
- Ensure all renovation work is documented with formal invoices.
- Pay for all work using the specific bank transfer method required for tax benefits.
- Save every receipt and invoice in a safe place for 10 years.
- Consult with a professional to include these costs in your tax filings.