Agevolazioni fiscali

How much do you save with the first home bonus under 36?

How much do you save with the first home bonus reserved for under 36s? Buying a house is almost always an important and quite expensive step.
It's not just a matter of considering the cost of the home you intend to purchase, but also expenses that aren't always evaluated such as, for example, mortgage and land registry taxes.
If buying a house is a choice to be carefully considered by anyone, it must certainly be weighed even more carefully by those who are young and find themselves in a less than stable economic situation.
Precisely to encourage the purchase of their first home by young people who have not yet reached the age of 36, the first home bonus under 36 was designed.
This is a benefit aimed at those who are up to 35 years of age and have an ISEE which does not exceed 40,000 euros.
How much do you save with the first home bonus under 36? First home bonus under 36 expiring First home bonus under 36, what discounts? How much do you save with the first home bonus under 36? First home bonus under 36 expiring The bonus under 36 for the purchase of the first home is a benefit that came into force in May 2021 with a duration, thanks to the extension provided for by the 2022 Budget Law, until 31 December 2023.
It is a a measure that, at the moment (until its publication everything can change, even if it seems very unlikely) the 2024 Budget Law has not planned to extend.
Therefore, for those who wish to take advantage of the bonus in question, there is time until the end of the year to obtain the tax benefits on the taxation applied to the purchase of a non-luxury property (land registry categories A/2, A/3, A /4, A/5, A/6, A/7, A/11).
read also First home bonus under 36: when do you lose the benefit? First home bonus under 36, what discounts? To encourage the independence of young people up to the age of 35, the first home bonus under 36 provides tax breaks for the purchase of a first home that are even more convenient than those provided for the purchase of a first home for most buyers.
These concessions provide for the sale of properties not subject to VAT: exemption from the payment of registration tax; exemption from paying cadastral tax; exemption from paying mortgage tax.
For purchases of properties subject to VAT, however, the recognition of a tax credit equal to the amount of VAT paid to the seller is added to the tax exemptions already mentioned.
How much do you save with the first home bonus under 36? To consider, when purchasing a property as a first home, tax breaks are already provided.
If you purchase a first home from a private individual or a company that sells it VAT exempt, you usually have to pay a registration tax equal to 2% of the cadastral value of the property (which rises to 9% for properties not considered first house).
The proportional registration tax to be considered can never have an amount lower than 1,000 euros (but it could be lower if the proportional amount paid to the preliminary contract is deducted).
As regards, however, the mortgage and land registry tax have a fixed amount equal to 50 euros each.
Suppose, therefore, that you purchase a property to use as a first home with a cadastral value of 60,000 euros (the actual purchase cost is not relevant for tax purposes), you would have to pay the following taxes: 50 euros for the mortgage tax; 50 euros for the cadastral tax; 1,200 euros of registration tax (2% of 60,000 euros).
The savings for those who use the first home bonus under 36, in this case, is equal to 1,300 euros.
However, if you purchase a house for 250,000 euros (excluding VAT) from a company that applies VAT, the taxes to be paid are equal to: 200 euros registration tax; 200 euros for the cadastral tax; 200 euros mortgage tax; 4% VAT equal to 10,000 euros.
With the first home bonus under 36 you would save 600 euros on taxes and you would then be entitled to a tax credit for the VAT paid to the seller (equal to 4% of the sales price), of 10,000 euros.
read also Extension of first home mortgages under 36 in 2024, requirements change

Author: A.W.M.

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