First house and residence, when tax breaks are lost
When you buy a first home you can access a series of tax breaks that can result in substantial savings. To enjoy the benefits, however, it is necessary that the property is used as a main residence, ie you move the residence within 18 months of purchase. If this requirement is not met, the Tax Authority has three years to contest the violation, request the due amount and impose the related sanctions.
But since when do the terms that allow the Revenue to start a proceeding start? The law is not clear on this point but to shed light on the issue is now the Court of Cassation with the ordinance 28860 of December 1, 2017. The ruling establishes that the count runs after the expiry of 18 months after the day of deed and not from the day when the deed of purchase is registered with the Inland Revenue.
This is an important clarification, to be taken into account, especially given the strong savings that can be achieved. Such as: the registration tax at 2% instead of 9%; VAT at 4% instead of 10% if purchased from a company with a sales subject to VAT; the exemption from the payment of Imu and Tasi and the income tax deduction of 19% of the interest expense (up to a maximum of 4 thousand euro) paid during the year if the purchase was made using a mortgage loan. You are not entitled to any benefits if the house, although first home, is luxury, ie belonging to the cadastral categories A / 1 (stately homes), A / 8 (villas) and A / 9 (castles and palaces of merit artistic and historical).
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