Tax Bonus 2017 for the purchase of new furniture and home renovation

2017 tax bonus for the purchase of new furniture and home renovation

The Revenue Agency has published, on its website, the new guide for the “Furniture and appliances bonus”, after the Law of the 2017 budget has extended its validity; until 31 December 2017, however; some rules have changed compared to past years.

The furniture bonus provides for the possibility of to take advantage of a IRPEF deduction equal to 50% of the cost incurred for the purchase of furnishings and large class appliances not lower than A+ (class A for ovens), in the event that the purchase takes place to furnish a property undergoing renovation. The maximum amount you can pay to deduct is; equal to Euro 10,000, for a total saving of Euro 5,000. The deduction must be spread over 10 years, therefore the maximum savings for each year it is equal to € 500.

To be able to take advantage of this tax deduction, payments must be made by bank or postal transfer duly prepared with the reason for the payment, the tax code of the beneficiary of the deduction and the code tax (or VAT number) of the seller.

E’ It is also possible to pay with credit or debit cards, while payments with checks or cash do not entitle to the deduction.

For expenses incurred in 2017, the deduction will be included. possible only if the related building renovation work started on the 1st January 2016. For the expenses incurred in previous years (from 6 June 2013 to 31 December 2016), the works had to have started from 26 June 2012. in any case, it is important that the start date of the renovation works precedes the date of purchase of the furniture (or large appliances).

The bonus is obtained by indicating the amount spent in the tax return (model 730 or model UNICO), starting from that relating to the year in which it was registered. made the purchase and for the following 9 years. For the usual tax inspections, it is necessary to it is necessary to keep the receipt of the bank transfer or of the completed transaction for card payments, and the bank account statement, where the charge is shown, in addition to the purchase invoices.

The list of furnishings and appliances, for which the deduction is due, is shown in the list. reported in the guide of the Revenue Agency, which is can be downloaded in the section “The Agency informs” of the website www.agenziaentrate.gov.it