The currently available tax incentives represent an excellent opportunity to renovate a home or property, to renew it from a structural and energy perspective, and even for furnishings. This year, one of the most successful incentives has been the Super Bonus 110%. However, from the end of 2022, this bonus will be very limited in accessibility. Which tax bonuses will not be extended? Which tax incentives will be extended for 2023?
To have definitive news on the overall framework of tax incentives, we will have to wait for the new Budget Law, but in the meantime, we can consider those whose extension has already been provided for by the 2022 Budget Law.
Tax Bonuses that Will not be Extended to 2023
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Facade Bonus
Unless the Italian Government legislates otherwise, the Facade Bonus is expected to expire by December 31, 2022. This bonus provided deductions on expenses incurred for the recovery or restoration of a building’s facade. The deductions correspond to 90% of the expenses incurred in 2020 and 2021, decreasing to 60% for expenses incurred in 2022.
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Young Home Bonus Under 36
In 2023, the opportunity to access the Young Home Bonus Under 36 should also expire. The 2022 Budget Law extended it only until December 31, 2022.
Renovation Bonuses Extended to 2023
If you are planning to renovate a property in the coming months, it’s good to know that in 2023 it will still be possible to request the following tax bonuses:
- 50% Renovation Bonus
- Green Bonus
- Water Bonus
- Furniture Bonus
- Seismic Bonus
- Furniture Bonus
- Eco-bonus 65%
- Superbonus 110% (with limitations)
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Renovation Bonus 50%
The 50% Renovation Bonus allows an IRPEF deduction of 50% for expenses incurred for building renovation interventions, or ordinary and extraordinary maintenance for a maximum of €96,000. This
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Green Bonus 2023
The Green Bonus 2023 is a tax incentive that covers 36% of expenses related to green maintenance and garden work, with a maximum ceiling of €5,000 per property unit. This corresponds to a tax deduction of €1,800, divided into 10 equal annual installments.
It’s a very convenient opportunity for those intending to recover a green space, improving irrigation systems, or building wells. The bonus also covers the planting of trees and shrubs, permanent green arrangements on balconies, the creation of roof gardens, and all design expenses related to the work to be carried out.
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Water Bonus 2023
The Water Bonus will also be extended until December 31, 2023. This will allow a deduction of €1,000 for the installation and replacement of sanitary ware, shower heads, and taps.
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Furniture Bonus 2023
The Furniture Bonus allows for an IRPEF deduction of expenses for the purchase of furniture and large appliances for furnishing a property under renovation. The deduction corresponds to 50% on a maximum amount of 10,000 euros for the year 2022, while 5,000 euros for the years 2023 and 2024. The bonus also includes transportation and assembly costs for purchased appliances and furniture.
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Seismic Bonus 2023
The Seismic Bonus will remain available until December 31, 2024. This allows an IRPEF deduction for all interventions related to the adoption of anti-seismic measures in property renovation. The property must be located in an area identified as a seismic zone of type 1, 2, or 3. The deduction applies to a maximum spending ceiling of €96,000, divided into 10 equal annual installments. The deduction is granted according to various variables. The more significant the interventions, the higher the deductions granted:
- 50% deduction for interventions on single-family houses
- Maximum deduction of 70-80% when interventions allow a reduction of seismic risk by 1 or 2 classes,
- 80-85% deduction for work on common parts of condominium buildings.
From July 1, 2022, the Super Seismic Bonus has been introduced, allowing a 110% deduction on specific anti-seismic interventions. This has also been extended until December 31, 2024.
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Superbonus 110% 2023
Unfortunately, the deadline for the 110% Superbonus for single-family houses is set for December 31, 2022. However, an extension is provided for some cases. The 110% Superbonus has been extended until December 31, 2023, for renovation work on condominiums, buildings owned by non-profit organizations, volunteer associations or social promotion associations, or buildings composed of 2 to 4 separately registered property units. The 110% Superbonus will be disbursed differently depending on the renovation interventions carried out. If you decide to intervene on public housing, the bonus will be valid until December 31, 2023, provided that 60% of the work is completed by June 30, 2023. If, instead, you intervene on properties you own or co-own, it becomes possible to take advantage of the 110% Superbonus until December 31, 2025, but with deduction percentages that will decrease to 70% in 2024 and 65% in 2025.
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