Energy efficiency and renovation expenditure

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Energy efficiency and renovation expenditure

Post by Panner on Wed Oct 09, 2013 8:07 am

You can claim tax relief on a large amount of expenditure. The incentives are currently 65% of the cost of energy related expenditure and 50% of certain renovation expenditure (including some furniture/energy efficient white goods in the renovated property). Relief is given by a tax credit over 10 years starting the year after the expenditure. For expenditure after 31 December the relief drops to 36%. The critical date is the date of payment, even if the work is completed and invoiced by 31 December but not paid until 1 January the relief will only be on 36% .

There are a lot of rules and regulations, as well as overall limits, and everything has to be documented properly, even payment has to be through the bank with info re the claimant and the recipient (Codice Fiscale/IVA no what it is for).

I understand that you do not have to be resident to claim the relief but to benefit you must be paying tax in the year that the credit is given as the relief is a credit each year against your tax bill.

The Agencia issued a note regarding the reliefs last month which gives a lot of detail . There are links to the notes issued and the regulations on http://www.irpef.info/3655.html

Panner
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Re: Energy efficiency and renovation expenditure

Post by modicasa on Tue Oct 22, 2013 2:00 pm

The incentives have been prorogued for the whole of 2014.  You must not only pay by bonifico for the works and products but also have your APE (Energy saving certificate) or you wont be allowed to reclaim a cent.

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