The under 36 first home bonus has been extended until 31 December 2024
The under 36s first home bonus is a tax relief instrument for young people who intend to purchase their first home. Thanks to this bonus, young purchasers can take advantage of various tax benefits, including exemption from payment of registration, mortgage and cadastral tax for purchases not subject to VAT, a tax credit equal to the VAT paid to the seller for purchases subject to VAT, and exemption from substitute tax for loans granted for the purchase, construction and renovation of residential property.
In order to benefit from this bonus, young purchasers must comply with certain requirements, including not yet having reached the age of 36 in the year in which the deed of purchase is stipulated, not owning other real estate for residential use in Italy and abroad, having an ISEE value not exceeding €40,000 per year, and that the home purchased falls within certain cadastral categories such as A/2, A/3, A/4, A/5, A/6, A/7, A/11.
Bonus benefits can be claimed for deeds concluded between 26 May 2021 and 31 December 2023, and have been extended until 31 December 2024 for those who have signed a preliminary contract by 31 December 2023. There is a tax credit for those who signed a final deed between 1 January 2024 and 29 February 2024, which can be used in the year 2025.
Moreover, it is important to emphasise that the bonus only concerns certain types of property and that stately homes, villas, castles and buildings of historical or artistic value are excluded.
To apply for the under 36 first home bonus, it is necessary to submit the necessary documentation and meet all the requirements.