The state has dedicated the “first home bonus” to young people who have not yet turned 36 and are buying their first home. There is still time until December 31, 2024 to submit the application and take advantage of the benefits. Here's how to do it.
The relief, provided for by Legislative Decree no. 73/2021, was created for promote independent living to young people who are under 36 years old and want to take advantage of the “first home” bonus under 36.
There is only time to submit applications until December 31 2024 and, sThere is a guide on the Revenue Agency website with all the information you need to know.
First Home Bonus Under 36 2024: Who is it for?
The relief concerns deeds stipulated in the period between 26 May 2021 and 31 December 2023, subsequently extended for another year, with the 2023 budget law.
The bonus can also be requested when, by 31 December 2023, the preliminary contract for the purchase of the home has been signed and registered, provided that the deed is signed no later than 31 December 2024.
Who is excluded from the bonus?
- If the preliminary contract was signed in 2023 but registered in 2024, the benefit cannot be requested;
- if the young person is under 36 years old acquires the property following a judicial order, if the award report was drawn up in 2023 and the subsequent real estate transfer decree is issued in 2024;
- a who has signed a definitive deed between 1 January 2024 and 29 February 2024, that is, the date of entry into force of the new provision, a tax credit is granted that can be used in 2025. This credit is equal to the taxes paid in excess of those due if the “first home under 36” bonus had been applied.
What does the bonus include?
As specified by the Revenue Agency-Collection for sales not subject to VAT, exemption from payment of registration tax is provided, mortgage and land registry.
In this case, however, For purchases subject to VAT, in addition to the exemption from registration, mortgage and land registry taxes, a tax credit is also recognised equal to the VAT paid to the seller. The purchase deed of a first home “under 36” is then exempt from stamp duty.
Up to what age can you request the bonus?
To be able to request the first home bonus under 36 you must not having reached the age of 36 in the year in which the deed of sale is stipulated and be in possession of a indicator Isee not exceeding 40 thousand euros per year.
For deeds signed in 2022, the ISEE refers to the income and assets of 2020. For deeds signed in 2023, the ISEE to be taken into consideration is that of 2021.
It is also necessary:
- have or move within 18 months your residence to the municipality where the property is located;
– declare in the deed of purchase of not be the owner, even in communion with the spouse, of the property rights, usufruct, use and habitation of another house in the territory of the Municipality where the property to be purchased is located;
– declare, in the deed of purchase, that not be the owner, not even by shares or under a legal joint ownership regime, throughout the national territory, of property rights, usufruct, use, habitation and bare ownership of another property purchased, even by the spouse, taking advantage of the same “first home” benefits. Otherwise, it is necessary to sell the house owned within one year from the date of the new purchase.
The 36 first home bonus under 2024 is only valid for certain properties. Let's see which ones.
The properties eligible for the benefit are those belonging to the following cadastral categories:
– A/2: type dwellings civil
– A/3: type dwellings economic
– A/4: type dwellings popular
– A/5: type dwelling ultra popular
– A/6: type dwelling rural
– A/7: dwellings in villas
A/11: homes and typical local accommodations
It is necessary to specify that in the bonus the appurtenances of the main property are also included belonging to the cadastral categories C/2, C/6 and C/7, intended to serve the residential home which is the object of the subsidized purchase.
How to submit the application
To obtain the tax credit you must make a declaration to the notary, with an additional deed drawn up according to the same legal formalities as the transfer deed, in which one expresses one's desire to avail of the tax benefits for "first home under 36" and declare that possess the requirements required by law also attaching the taxpayer's declaration of being in possession of the ISEE certification valid in 2024.
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