The Revenue Agency, by answering # 241 to a question asked by the taxpayer, solves an interesting question. The editorial staff explains, in a few minutes of reading, the proposed solution to the readers, as well as the benefits of the restructuring bonus. Indeed, with the renewal bonus, even for unfinished properties, great deals will be sealed.
That is, a 50% discount on documented expenses, with a maximum spend of 96,000 EUR, for renewals. The Budget Law also extended access to the aforementioned deduction until December 31, 2021.
This is the case presented by the taxpayer
The taxpayer stipulated a preliminary sale agreement, to purchase a life-long usufruct over the property’s share of the property, which is part of a building. This unit is registered in Class F / 4. The selling company has drawn up a plan to divide it into several housing units. The taxpayer has purchased the usufruct right of the housing unit in its initial state without paints and systems and is not divided from the neighboring parts within the project.
Renovation work has started in 2019, and the real estate unit subject to renewal, from F / 4, will be registered in Al-Qat. A / 2. Therefore, the taxpayer asks the agency whether the expenses incurred, can benefit from the deductions referred to in Article 16 bis, paragraph 1 letter. B) by TUIR. In particular for the expenses incurred in 2019 and 2020, as well as the expenses that still have to be incurred.
The restructuring bonus is also for fictitious class properties, the Revenue Agency explains
Article 16 of TUIR governs a deduction from total tax for individuals against expenditures incurred for interventions on individual residential real estate units of any class. And also on their accessories. In particular, the extraordinary maintenance of the restoration and renovation of buildings.
If intrusions occur in the common parts of residential buildings, normal maintenance is also included. over there Budget Law 20/78 He modified the above mentioned article. In fact, for documented expenses, it has provided for a 50% discount, up to a spending limit of 96,000 €, for renewals. The discount equals 50% of the expenses incurred from June 26, 2012 to December 31, 2021. This is why with a restructuring bonus, even for unfinished properties, big deals will be made.
With the renewal bonus even for unfinished properties, you’ll get great deals
The agency specifies that it is imperative that interventions be carried out on existing buildings and that new constructions must not take place. In the present case, the F / 4 class is one of the classes named as dummy classes. The rationale for these categories is the need to identify portions of real estate for the most diverse purposes.
Real estate that belongs to these categories does not have any surveying income. Circular No. 19 / E for the year 2020, stipulating that the deduction is in accordance with Article. 16-bis from TUIR, although not as productive. In fact, they can still be considered standing buildings, being in any case actually built antique pieces.
In this regard, the article “Upcoming deal with Superbonus 110% in ruinsThis conclusion was also reached regarding the characteristics of Class F / 4, provided that it is recorded at the end of the works, and if all requirements are met, in Class A / 2.
This explains why even with a restructuring bonus they can strike really big deals.