Apartment Renovation: Tax Deductions Available in 2022

tax deductions incentives

A summary of the main deductions confirmed or introduced by the latest 2022 Budget Law in the context of home and apartment renovation.

2022 is an exceptional year for those considering home renovation. The 2022 Home Bonuses guarantee significant tax relief to citizens who want to renovate their properties with home renovation work, modernization and redevelopment. There are several, in line with different needs. If you are also considering apartment renovation with tax deductions, in this article you will find a comprehensive overview of the Bonuses extended or introduced by the latest 2022 Budget Law. Let’s look at this in more detail.

 

Renovation Bonus 2022 – 50% Tax Deductions

Also for 2022 the Renovation Bonus with 50% tax deductions on homes has been confirmed and has been extended until December 31, 2024. This means that until this date it will be possible to request a 50% IRPEF deduction on expenses incurred for renovation work on a property, with a limit of 96,000 euros per real estate unit, to be distributed over the following 10 years. From 2025 the deduction will return to 36% and will be applied on a maximum spending ceiling of 48,000 euros, always to be distributed equally over the following 10 years.

 

Ecobonus 2022

Also the Ecobonus has been extended until 2024. Excellent news for those who want to implement the energy efficiency of their home. This will, in fact, allow you to benefit from a deduction ranging from 50% to 65% depending on the case, on energy efficiency interventions. Among these we find:

  • General thermal redevelopment of a building (65% deduction)
  • Energy redevelopment of shared parts of a condominium (65% deduction)
  • Replacement, even partial, of winter air conditioning systems with class A+ condensing boilers with hybrid appliances and advanced thermoregulation systems (65% deduction)
  • Replacement, even partial, of the old system with high-efficiency heat pumps or with low enthalpy geothermal systems (65% deduction)
  • Replacement of traditional water heater with heat pump water heater (65% deduction)
  • Replacement, even partial, of winter air conditioning systems with systems that have condensing boilers (50% deduction)
  • Purchase and installation of condensing hot air generators (65% deduction)
  • Installation of solar panels for water heating (65% deduction)
  • Installation of thermal coats, insulating roofing and flooring (65% deduction)
  • Installation of windows and fixtures (50% deduction)
  • Solar ray shielding (50% deduction)
  • Installation of devices for remote control of air conditioning (65% deduction)

Maximum deduction amount varies case by case, starting from 30,000 euros for the replacement of thermal systems, up to 60,000 euros for solar systems. In the case of more significant interventions it can be brought up to 100,000 euros. The Ecobonus can also be requested through credit transfer or with invoice discount. Many of the deductions related to energy efficiency can also be absorbed by the 110% Superbonus.

 

110% Superbonus

The 110% Superbonus represents one of the most significant innovations of recent years in terms of tax deductions. This in fact allows you to deduct 110% of the expenses incurred to improve the energy efficiency of a property from taxes. However, this is the bonus with the closest expiration date. The 110% Superbonus will remain in effect only until December 31, 2022. It will therefore be possible to deduct 110% only of the expenses that will be incurred by that date. In many cases it is already no longer possible to access it. The Bonus covers all 2022 expenses, however requiring that by September 30, 2022, work for 30% of the total has already been carried out. However, things change for condominiums and for properties with two to four units owned by a single owner. In this case you will be able to access the 110% Bonus until the end of 2025.

 

Sismabonus 2022

The Sismabonus has been extended for all of 2025. This benefit concerns interventions in areas affected by earthquakes, the purchase of anti-seismic properties and anti-seismic redevelopment work on parts of buildings or on individual real estate units. Depending on the type of intervention that will be carried out on the property, you will be able to access different types of benefits: deductions range from 50% to 80%, even reaching 85% in some cases. The spending ceiling is always 96,000 euros total for each real estate unit. The deduction will then be disbursed in 5 annual disbursements in subsequent years, or you can opt for credit transfer and invoice discount.

 

Furniture Bonus 2022

The 2022 Furniture Bonus is directly linked to renovations. It is a 50% deduction for the purchase of new furniture for furnishing the property under renovation. This bonus has been extended until 2024. The 50% IRPEF deduction is applicable on a spending ceiling of 10,000 euros. From 2023 and 2024 it will be reduced to 5,000 euros. To benefit from this bonus it is necessary that the start date of the renovation work is prior to the purchase of the furniture. To explore the topic further we refer to the article “2022 Furniture Bonus for furnishing a home under renovation“.

 

Boiler Bonus 2022

Even replacing an old boiler allows access to significant deductions. The intent is to optimize the energy efficiency of these systems, ensuring savings and greater sustainability.

By taking advantage of this bonus, you will be entitled to different benefits depending on the intervention:

  • 50% deduction in case of installation of a boiler without class A valves
  • 65% deduction for the installation of a new class A or higher boiler, with the application of valves for heating control
  • 110% deduction for boiler replacement in work provided for the 100% Super Bonus.

The expenses included in the 2022 Boiler bonus are:

  • Dismantling of the old boiler
  •  Purchase and installation of the new boiler
  • Related masonry work
  • Inspections and labor

The Boiler Bonus can also be requested through credit transfer or with invoice discount.

 

Fixtures Bonus 2022

The 2022 Fixtures Bonus provides a 50% tax deduction on all expenses for fixture replacement on a maximum ceiling of 60,000 euros. The deduction will be divided into 10 annual installments of equal amount. Also in this case, credit transfer or invoice discount can be requested.

 

Architectural Barriers Bonus 2022

The Architectural Barriers Bonus is one of the innovations introduced in 2022. From January 1, 2022 to December 31, 2024, you will be able to request a 75% deduction on expenses incurred for interventions aimed at overcoming and eliminating architectural barriers in existing buildings. The bonus can also be requested through credit transfer or with invoice discount. The deduction will be divided into 5 annual installments of equal amount. This is to be calculated on a total amount that varies from 30,000 to 50,000, depending on the real estate units on which you intervene.

 

Awnings Bonus 2022

The 2022 Awnings Bonus is aimed at all those who want to install new solar shielding in their home. It provides a 50% deduction on the purchase cost of materials and on the cost of installation work for a maximum ceiling of 60,000 euros per real estate unit. The deduction will then be disbursed in equal parts over the following ten years. You can access the bonus also through credit transfer or with invoice discount. This bonus provides for the installation of:

  • Vertical blinds
  • Venetian blinds
  • Roller blinds
  • Skylight blinds
  • External awnings with folding or rotating arms
  • Shutters
  • Venetian shutters, hinged or accordion

Want to know more? Do not hesitate to contact us, our experts will be happy to offer you personalized consultation.

 

 

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