The Italy Forum
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Tax deductions even if you do the work DIY

4 posters

Go down

Tax deductions even if you do the work DIY Empty Tax deductions even if you do the work DIY

Post by Admin Thu Nov 20, 2014 4:07 pm

I just saw an interesting artile that said you can claim the 50% or 65% tax deduction on renovations even if you do the work yourself. Obviously this is only a deduction on the cost of material but is really good news. The article is only in Italian I am afraid: DIY
Admin
Admin
Admin

Location : Italy
Posts : 714
Join date : 2013-05-16

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by Flip Thu Nov 20, 2014 4:56 pm

Penny there are quite a few Tax Deductions you can claim, if you either work from home or are self employed. You can claim for just about anything, home improvements, car insurance, heating, lighting, web services, telephone, eating out/entertaining, servicing costs,new laptops, IMU/Tasu/Tasi/ whatever else they call it, wood, pellets basically everything you use in the house.
Top Tip: get a good Comercialista the money they can save you it legal tax avoidance is well worth their cost.
But if you work in the 'Black' good luck and watch out.
Flip
Flip
Elder

Location : nr. Bagni Di Lucca. LU
Posts : 809
Join date : 2013-05-25

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by modicasa Fri Nov 21, 2014 6:28 am

Just bear in mind that what you can do as DIY is incrddibly limited.  The article gives the example of putting in secure blinds - and thats about the limit.  You cannot do anything regarding central heating, electricity, water, or building.  If you decide to put in double glazing, you can do it yourself but the windows must be made by a certified company.  etc etc - Dont think you can build a house and get 65% back from the state - which of course you dont - you get 5% off your tax bill over the next 10 years.

modicasa
Elder

Location : Sicily
Posts : 534
Join date : 2013-05-20

http://www.modicasa.com

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by Admin Fri Nov 21, 2014 8:59 am

Flip, you're talking about business expenses which is something else. This is a specific scheme for renovations and is available to any resident whether they have a business or not.
Modi, we're just about to start our next renovation and other than electrics, plumbing, reinforced cement and any work at above 2m you can do the rest yourself. That includes all internal finishes too so in fact there is quite a lot you can DIY.
Admin
Admin
Admin

Location : Italy
Posts : 714
Join date : 2013-05-16

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by modicasa Fri Nov 21, 2014 9:29 am

Reductions at 65% are for energy efficient plant  50% for restoration at a high level of energy efficiency, so most internal finishes wont qualify.  Unfortunately iI doubt it can count if its just a restoration.   You must pay everything by bonifico and have all the paperwork in order or you cant claim a cent.

modicasa
Elder

Location : Sicily
Posts : 534
Join date : 2013-05-20

http://www.modicasa.com

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by stevegwmonkseaton Fri Nov 21, 2014 9:58 am

I guess the main point for those looking to doing work on a house, where they will pay tax, then this is very good information to be aware about. I'm sure new inner insulation costs inclunding the plastering would count... Is this in addition to the lower IVA for a project?

stevegwmonkseaton
Elder

Location : Abruzzo
Posts : 1927
Join date : 2013-05-20

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by Admin Fri Nov 21, 2014 10:12 am

Sorry Modi that's not correct. It is only for renovations. The 50% agevolazione does not have to be 'energy efficient'. Only electrical appliances and other items like windows must meet this requirement. If you look on page 25 of this document you can see all the items you can claim for.
Also, at the moment, if you have claimed under this scheme then you can also claim for up to €10,000 of furniture and white goods.
Yes, it is spread over 10 years but at least it is something! Let's be positive - the government is GIVING us someting for a change!!!
Admin
Admin
Admin

Location : Italy
Posts : 714
Join date : 2013-05-16

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by stevegwmonkseaton Fri Nov 21, 2014 10:20 am

Even better news! But better still is reading between the lines that the government is encouraging spending, kind of "quantitative easing" in a very sensible way - perhaps they are learning.

stevegwmonkseaton
Elder

Location : Abruzzo
Posts : 1927
Join date : 2013-05-20

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by modicasa Fri Nov 21, 2014 10:41 am

I did restoration last year, and the mountain of paperwork and certification to get 50% agevolazione had to meet energy requirements and was not valid for just restoration.  In the end I could claim the new doors and windows and that was about it.  I hope you have better luck than me.... !

modicasa
Elder

Location : Sicily
Posts : 534
Join date : 2013-05-20

http://www.modicasa.com

Back to top Go down

Tax deductions even if you do the work DIY Empty Re: Tax deductions even if you do the work DIY

Post by Sponsored content


Sponsored content


Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum