A guide to the provided facilities and beneficiaries. Here is the complete list of incentives for those who want to buy their first home.

First Home Bonus 2017: here is a guide to all the tax benefits for those intending to purchase their first home and the latest news.

The benefits for the first home have been extended to 2017, and specifically, the first home bonus allows for a reduction in VAT, tax credits, and income tax deductions.

The benefits of the first home bonus apply to purchases made by companies, individuals, as well as acquisitions through successions and donations. Of course, to access state-directed first home purchase benefits, beneficiaries must meet certain requirements. In 2017, the scope has been extended to include homeownership, unlike what was established in 2015.

Additionally, those who are already homeowners at the time of purchasing new real estate can also benefit from the first home bonus in 2017, but under specific legal constraints.

First Home Bonus 2017: Benefits and Beneficiaries

The first home bonus in 2017 is an incentive for all citizens, but within certain criteria. Before delving into the details and analyzing what the first home bonus entails in 2017 and the benefits it offers, let’s identify who the beneficiaries are.

The latest update is that, with an amendment to the Milleproroghe decree, approved by both the Chamber of Deputies and the Senate, the possibility of benefiting from a 50% deduction on VAT has been extended. This deduction applies to the purchase of energy-efficient properties, specifically class A and B houses, bought directly from the builder. It is not exclusively an incentive for purchasing the first home. In 2017, it can also be availed by those intending to purchase a second residence.

Regarding the first home bonus in 2017 in detail, it can be requested for the purchase of homes that do not fall into cadastral categories A7, A8, A9, which are luxury houses. Therefore, before proceeding with the home purchase, it is advisable to verify the property’s characteristics with experts, such as surveyors, engineers, and architects.

Beneficiaries of the first home bonus in 2017 must also meet certain requirements:

– Do not own homes nationwide for which they have benefited from incentives, or sell them within one year.
– Do not own a property in the same municipality where incentives are requested for the first home purchase.
– Reside in the municipality where the house is purchased or establish residency within 18 months of the facilitated purchase. Demonstrate that the workplace is located in the said municipality.
– Do not hold the right to use, usufruct, or habitation of another property in the same municipality where the first home purchase incentive is requested.

The first home bonus in 2017 can also be used by taxpayers already owning a residence. The constraint is the sale of the previously owned property within 18 months of the new purchase.

Here are all the first home bonuses in 2017 that beneficiaries of the incentive can avail themselves of.

First Home Bonus 2017: All Benefits

Tax benefits that allow purchasing a house with discounts. VAT, registration tax, income tax, and tax credits have been and promise to be significant incentives.

The first home bonuses in 2017 that can be availed include the following and apply under different conditions:

– Reduction of VAT from 21% to 4%: Targeted at taxpayers buying directly from the building company, paying a fixed amount of 200 euros for mortgage and cadastral taxes.
– Purchases through successions or donations: Fixed-rate mortgage and cadastral taxes apply, i.e., 200 euros.
– Registration tax at 2%: For purchases from private individuals, a reduction in registration tax is provided. The first home bonus in 2017 for purchases from private individuals allows paying this tax based on the cadastral value of the property (based on the principle of price/value). In this case, cadastral and mortgage taxes amount to 50 euros.
– 19% Income tax deduction: For purchases from real estate agencies, an income tax deduction is provided on the amount disbursed by the agency, up to 1,000 euros.
– Tax credit: The first home bonus in 2017 for individuals selling and repurchasing a house within 12 months. By taking advantage of the incentives, this allows subtracting the tax to be paid with that already paid for the purchase of the previous residence.

To benefit from the incentives provided by the first home bonus in 2017, it is necessary to conclude the purchase deed through a notary.

Sources:
– http://www.ilsole24ore.it
– http://www.wikipedia.org
– http://www.guidafisco.it
– http://www.google.com