Ecobonus 110, furniture bonuses and renovation bonuses
Ecobonus 110, how to navigate the rules governing the 2020 furniture and renovation bonus can be complicated. In this article, then, we will try to clarify the essential points, remembering that these concessions are in force throughout 2020, and that they can lead to important tax benefits and in any case based on energy conversion.
What is the 2020 mobile bonus
The 2020 furniture bonus is a tax relief that concerns expenses for the purchase of furniture. The subsidy allows those who have carried out a renovation of a property no earlier than 2019 to deduct the costs incurred to buy furniture and appliances from taxes.
The obtainable Irpef deduction is 50% of the expenses incurred for a maximum of € 10,000. If you have incurred costs for €5,000, for example, you may be entitled to a deduction of €2,500 which will be divided into 10 installments of equal amount, reported in the tax returns for subsequent years.
Mobile bonuses 2020: how it works
The 2020 furniture bonus is closely linked to renovations. Only those who carry out a renovation of buildings, in fact, can request the facilitation on the purchase of furnishings and appliances. The bonus is recognized only in cases where the purchase of the furniture takes place through:
Wire transfer, bank or postal
Credit cards
Debit cards
Payment by cash or check, therefore, voids the right to claim the bonus. Other requirements that must be met to claim the bonus are:
The purchase made in 2020 must be linked to renovation works on individual real estate units or common condominium parts, which started no earlier than 2019
The bonus is available to those who reside in Italy, or to those who reside abroad but are subject to Ires or Irpef
The furniture bonus only concerns those who have carried out building renovations among those included in the 2020 renovation bonus
What is the 2020 renovation bonus
Thanks to the financial manoeuvre, the 2020 restructuring bonus is one of the bonuses extended for the entire current year. This bonus allows access to tax breaks relating to building renovation interventions.
The deduction that can be accessed is 50%, with a maximum spending limit of €96,000. The same benefit is available to those who buy renovated buildings for residential use.
Different subjects can benefit from the bonus, including:
Owner
Usufruct holder
Tenant
Members of cooperatives and simple companies
individual entrepreneurs
Cohabiting family members
Separate spouse assignee of the property
In order to benefit from the deduction, it is necessary to carry out several operations. Among the most important are:
Send communication to the ASL
Make the payment of the expenses by wire transfer, postal or bank
Indicate the cadastral data of the property in the tax return
2020 renovation bonus: how it works
The restructuring bonus is due in cases of building renovations, restoration and conversational rehabilitation. The list of jobs that allow access to the subsidy is quite long. Below we provide a brief summary of the most common interventions:
Extraordinary maintenance, restoration and rehabilitation of one or more housing units, rural, rustic and outbuildings
Maintenance, restoration and rehabilitation of common parts of residential buildings
Restoration of damaged buildings
Elimination of architectural barriers
Remediation of asbestos and works aimed at avoiding the danger of domestic accidents
Expenses for the prevention of unlawful acts
Cabling of buildings, reduction of noise pollution
Ordinary maintenance interventions are included in the bonus only if they concern the common parts of buildings. In the case of condominiums, the Irpef deduction is due to each condominium based on the thousandth share.
Furniture bonus and renovations 2020: how are they related?
It is worth remembering that the 2020 furniture and renovation bonuses are linked to each other. The first facilitation, in fact, cannot exist without the second. Therefore, you can benefit from the furniture bonus only if you carry out the renovations required by law.
The 110% eco-bonus and the maxi deduction
The various bonuses confirmed for 2020 also include the Ecobonus, which entitles you to a 110% deduction on certain building projects. These are the cases involved:
Thermal insulation interventions affecting the building envelope to a greater extent than 25%, with a limit of € 60,000
Replacement of winter air conditioning, heating and cooling systems with solutions belonging to at least efficiency class A
Carrying out anti-seismic interventions on buildings
Installation of photovoltaic systems and accumulators
Installation of systems dedicated to recharging electric vehicles.
It goes
The Ecobonus can be recognized in the form of a discount on the invoice by the supplier, who will be able to recover the amount through a tax credit, which can also be transferred to banks and financial intermediaries. Alternatively, it is possible to carry out the assignment of the credit. In this case, the deduction is transferred to the supplier or other private entities.
go to our in-depth analysis on deductions-renovations-2020
Go to the Revenue Agency website:
Superbonus 110 or Ecobonus 110 Go to the Revenue Agency guide.
Bonus facades Go to the Revenue Agency guide.
Bonus furniture and appliances Go to the Revenue Agency guide.
