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Tax breaks for the purchase of your first home (part 2)

Posted by admin on 18 January 2013
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Tax breaks for the purchase of your first home (part 2)

In the presence of all requirements now listed, subject buyer has the right to invoke the concessions for the “first House” and pay then reduced taxes to the extent this means that:

If the seller of the property is a private individual is not subject to VAT, apply to:

– the registration tax of 3% instead of 7% of the declared value;

cadastral and mortgage taxes – to the extent fixed by 168 euro each.

If, instead, the seller of the property is a “Builder” or “ristrutturatrice” within 4 years from the date of completion of the work, will have to pay:

– the VAT at 4% (up from 10%);

– the stamp duties, cadastral and mortgage, fixed amount to 168 euro each

Those who buy residential property (and its grounds, such as garages, basements, attics, etc.) with the facilities for the “first House”, must not resell the goods purchased for a period of at least five years after purchase: if it does, is likely to decline from the facilities of which he enjoyed.

The decline from the facilities determines the obligation to pay the difference between the discounted and not reduced taxes which have been paid, a penalty equal to 30% of the unpaid tax, plus interest calculated at the rate of 2.5% per semester.

The decline from the facilities can be avoided if who resells prior course of five years from the purchase proceed, within one year from the resale, for a new purchase facilitated for a property to be used as their actual residence, thus proving not to have pursued speculative intent but only personal interests of living nature. <!>

with reference to the new “first House” purchased, it is not enough that the person has his residence in the municipality where the property is situated; the new House is actually meant to your own home.

With this second part of the article devoted to tax breaks for the purchase of the first home I conclude my intervention by thanking you for the attention you gave Pearl reading this article.

Article written by the notary Marina Aceto based in Casale Monferrato (AL) via Guazzo n° 6 tel. 70344 0142/email maceto@notariato.it











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