First home purchase: all the 2018 tax reductions
Thanks to the 2018 tax innovations, it is possible to
save money on VAT, registration fee and a part of the personal income tax. Let’s
see in detail these first-home fiscal aids:
- application of a fixed registration fee equivalent to 2%
- application of mortgage taxes and cadastral duties equivalent to € 50 each
- if the sale is subject to VAT, the purchaser must also pay a fixed
€ 200 fee including the registration fee, the mortgage tax and the
cadastral duty, in addition to a
reduced 4% VAT fee.
These fiscal aids are charged to the purchaser who,
- lives in the municipality where the property is located
- undertakes to move his residence there within 18 months after the
- works in the above-mentioned municipality.
bonus doesn’t include houses belonging to one of the following cadastral
categories: A1 (elegant houses), A8 (residential villas),
A9, (castles and buildings of artistic and historical merit/luxury
the purchase is performed through an estate agency, a 19% income tax deduction
is foreseen for a sum not higher than € 1,000. According to the 2018 First-Home
Bonus, a tax credit is also foreseen for those who sell their house and
purchase a new one.
who receive a property by inheritance or donation must pay a € 200 mortgage tax/cadastral
duty, in line with the duty paid when purchasing a property from a construction
company. In these cases, the Revenue Agency checks the presence of all the declared
and necessary requirements.
In case of false declarations, the purchaser
not only loses the tax reductions granted, but he is also
obliged to pay a fine equivalent to 30%.
The classification of a property in the luxury
category is made according to a series of criteria, among which its surface. A property with a surface exceeding
300 square metres is subject to a registration fee. In fact, the “habitative”
potential of a property is not important. On the contrary, it is important to
remember that the property surface always includes the basement and the attic, i.e.
all the rooms that – though not having the requirements foreseen by the
Building Regulation for “habitability” - increase the floor space of the