Initially introduced by the Sostegni bis decree, the concessions forpurchase of the first home for young people under 36 they were extended for the whole of 2023 by the Budget Law.
The under 36 first home bonus will therefore be operational until the deadline of next December 31st.
The Revenue Agency has published a mini guide to the concessions for young people under 36. The document updated in January summarizes the requirements to get access to concessionsthe benefits provided by the measure and the cases in which the bonus for the purchase of the first home is lost.
First home bonus, who is entitled to it: the requirements
The first home under 36 concessions are available to those who:
- buy their “first home” between 26 May 2021 and 31 December 2023
- have not yet completed 36 years of age in the year in which the deed is stipulated
- have an annual ISEE not exceeding 40,000 euros.
It is also necessary:
- have or establish residence in the municipality where the property is located, within 18 months of purchase
- not be holders, not even with the spouse, of the property, usufruct, use and habitation rights of another house in the territory of the municipality where the property to be purchased is located
- not own another property purchased with the first home subsidy or, if you do, sell it within one year from the date
of the new purchase.
First home bonus, the properties eligible for the benefit
The properties eligible for the benefit include those classified or classifiable in the following cadastral categories:
- A/2 (civil type homes)
- A/3 (economic housing)
- A/4 (popular housing)
- A/5 (ultra popular type dwelling)
- A/6 (rural type house)
- A/7 (dwellings in small villas)
- A/11 (dwellings and lodgings typical of the places).
The benefits also extend to the purchase of the appurtenances of the main building, classified or classifiable in the cadastral categories
- C/2 (warehouses and storage rooms)
- C/6 (for example, sheds and garages)
- C/7 (closed or open sheds)
limited to one relevance for each category and intended for the service of the house covered by the subsidized purchase.
The purchase of the relevance can take place at the same time as that of the main residenceor even with a separate deed, provided that it is stipulated within the period of validity of the relief and in compliance with the subjective requisites envisaged.
First home bonus, properties excluded from the benefit
The concessions are not allowed, however, for the purchase of a house belonging to the cadastral categories:
- A/1 (stately type homes)
- A/8 (dwellings in villas)
- A/9 (castles and palaces of eminent historical and artistic value).
First home bonus, eligible deeds
With regard to eligible deeds, the tax benefits apply to all deeds involving the transfer for consideration of the property (or share of co-ownership), the transfer or establishment of real rights of enjoyment (bare ownership, usufruct, use, ) of the houses indicated above.
The concessions they don’t apply preliminary sales contracts (on signing the definitive sales contract subject to the facilitation, it is however possible to present a refund request for the recovery of the proportional tax paid for advances and down payment). On the other hand, properties purchased at auction benefit from it.
First home bonus, the concessions provided
For the purchases not subject to VATregistration, mortgage and cadastral taxes are not due.
For csales subject to VATin addition to not paying registration, mortgage and cadastral taxes, a tax credit is granted for an amount equal to the VAT paid to the seller, which can be used:
- to pay taxes (register, mortgage, cadastral) on inheritances and donations due on deeds and complaints presented after the date of credit acquisition
- to pay the personal income tax due on the basis of the declaration to be presented after the date of the subsidized purchase
- to offset sums due using the F24 form, in which the tax code “6928” must be indicated.
For i financing provided for the purchasethe construction and renovation of residential buildings is not due the substitute tax.
The Revenue Agency also reminds you that, as for the other purchase deeds subject to the proportional registration tax, the “under 36” first home purchase deed is also also exempt from stamp duty.
First home bonus, when the concessions are lost
There are conditions that make you lose the right to the benefit and they are:
- who requests the subsidies under 36 without having the specific requirements (for example, ISEE value higher than that required), but still entitled to the “first home” benefits:
– for deeds subject to registration tax, undergoes the recovery of this tax (in the amount of 2%) and of the mortgage and cadastral taxes (in the fixed amount of 50 euros each)
– for purchases subject to VAT, in addition to having to pay registration, mortgage and cadastral taxes, you must return the tax credit used, if you have already used it (with the application of penalties and interest). VAT remains due at a rate of 4%.
On the other hand, in the event of forfeiture of the “first home” benefits for:
- false declaration on the existence of the requisites, made in the deed of purchase
- failure to transfer the residence within the established deadlines
- sale within five years, not followed by repurchase within the year
- failure to sell the previous “first home” within the year of the purchase of the new one
the registration tax is recovered in the amount of 9% and the mortgage and cadastral taxes in the fixed amount of 50 euros each. They are also applied penalties and interest. Finally, the tax credit also disappears (with the recovery of the same and the application of penalties and interest).
