Renovation Deductions 2020
2020 is the year of renovation deductions for buildings and properties. With facade bonuses, window bonuses, green bonuses, and Ecobonuses, it is quite easy to overlook some details. In this brief guide, we will provide the necessary tools to understand the differences between the various initiatives in place. We will also highlight the interventions that fall within the scope of the various bonuses.
Renovation Deduction 2020: The Facade Bonus
The facade bonus is probably the most extensive initiative dedicated to renovations in 2020. This measure focuses on specific categories of interventions that must meet precise requirements. Without these parameters, the deduction decreases, falling under other initiatives such as the green bonus and Ecobonus. These interventions include:
· Gutters (90% deduction)
· Cornices (90% deduction)
· Balconies (90% deduction)
· Railings and downspouts (90% deduction)
· Facades (90% deduction)
· Air conditioning systems, TV antennas (90% deduction)
· Friezes and ornaments (90% deduction)
· Scaffolding (90% deduction)
· Design costs (90% deduction)
This measure has quite stringent requirements: it includes interventions "aimed at the recovery or restoration of the external facade of existing buildings, parts of them, or on existing real estate units of any cadastral category, including instrumental ones." At the same time, the facade bonus "does not apply to interventions carried out during the construction phase of the building or carried out through demolition and reconstruction, including those with the same volume as the pre-existing building, which can be classified as 'building renovation' (according to article 3, paragraph, 1, letter d of Dpr n. 380/2001)."
For more information, refer to the Agenzia delle Entrate guide to the facade bonus (https://www.agenziaentrate.gov.it/portale/documents/20143/233439/Guida_Bonus_Facciate.pdf/129df34a-b8b7-5499-a8fb-55d2a32a0b12).
Window Bonus 2020: What It Is and How It Works
The latest financial maneuver has renewed the window bonus, which is therefore valid for 2020. The benefits include tax deductions for interventions on:
· Windows
· Shutters, blinds, and shutters
· Glass doors
· Sunshades
· Entrance doors
The benefit amounts to 50% of the actual expenditure, with a maximum spending limit of €96,000. For more details, read our article on the 2020 window bonus (https://www.porteitaliane.com/it/blog/bonus-infissi-linee-guida-su-come-usufruire-delle-agevolazioni-fiscali-n56), which includes all the necessary information.
Ecobonus: Renovations for Energy Savings
The return of the Ecobonus, confirmed for 2020, allows for tax deductions on interventions aimed at energy requalification of buildings. This way, it is possible to increase the energy class of properties (https://tariffe.segugio.it/guide-e-strumenti/glossario-adsl-energia-gas/classe-energetica.aspx), enhancing not only their safety but also their value.
These are the interventions included in the 2020 Ecobonus, with their respective tax benefits:
· Flat roofs (65% deduction)
· Roofs and coverings (65% deduction)
· Blinds and screens (50% deduction)
· Facades (in the case of the Ecobonus, the deduction is 65%, which can rise to 70% and 75% in the case of condominiums)
· Scaffolding (the deduction follows the bonus in which the intervention falls)
· Design (the deduction follows the bonus in which the intervention falls)
In all cases, the interventions must meet minimum insulation requirements. If this parameter is not met, the bonus expires or falls under another category of deductions.
Green Bonus 2020: Features and How It Works
The green bonus aims to enhance work that leads to greater sustainability of buildings, as well as interventions that improve urban decor. Cleaning, restoring crumbling parts, painting, renovation, and consolidation are all cases that can fall under both the facade bonus and the green bonus.
These are the details of the interventions provided for the 2020 green bonus:
· Gutters (50% benefit if the facade bonus requirements are not applicable)
· Cornices (50% deduction if the facade bonus requirements are not met – does not apply to ordinary work on single units)
· Balconies (50% deduction for railing interventions, but not on balcony doors)
· Facades (50% deduction if the facade bonus or Ecobonus requirements are not met)
· Systems other than air conditioners and antennas (50% deduction)
· Railings and downspouts (50% deduction – only for extraordinary work on single properties)
· Ornaments and friezes (50% deduction – for interventions other than painting and cleaning)
· Scaffolding (50% to 90% deductions, depending on the bonus under which the intervention falls)
· Design (50% to 90% deductions, depending on the bonus under which the intervention falls)
As you can see, in many cases, the 2020 green bonus comes into play when the facade bonus requirements are not met.
Renovation Tax Deductions
Interventions that do not fall under the cases provided by the facade bonus, green bonus, and Ecobonus can still benefit from tax deductions for renovations. These are the incentives provided, obtainable if it is not possible to adhere to the facade bonus and Ecobonus:
· Flat roof (basic deduction is 50%)
· Roof (basic deduction is 50%)
· Gutters (basic deduction is 50%, excluding maintenance on single real estate units)
· Cornices (basic deduction is 50%, excluding interventions on single real estate units)
· Balconies (basic deduction is 50%)
· Railings and downspouts (basic deduction is 50%, but only for extraordinary work on single properties)
· Facades (basic deduction is 50%)
· Windows (basic deduction is 50% even on non-residential buildings)
· Ornaments and friezes (basic deduction is 50%)
· External gates and doors (basic deduction is 50% – if the gates enclose a garden, the bonus is 36%)
· Perimeter walls (basic deduction is 50%)
· Design (professional fees are subject to the same bonus under which the intervention falls)
· Scaffolding (rental costs are subject to the same bonus under which the intervention falls)
A Brief Guide on Renovation Deductions for 2020
Understanding the case in which the renovation intervention you want to carry out falls is not always simple. The brief summary we have provided can help you decide better, saving money and improving the yield of your property.
For any needs related to the installation of interior doors and home automation systems, Porte Italiane is at your side: contact us now (https://www.porteitaliane.com/it/contattaci) for more information!
