Table of Contents
- 1 How this real estate market crisis will be resolved
- 2 Capital gains and the Income Tax Return
- 3 Continue Reading
- 4 Lower the tax burden on homeowners selling their properties, thereby stimulating the real estate market. However, it is still under discussion, and its eventual implications will depend on how the proposed changes are implemented.
Mutuo (Fonte: Freepik) – Cataniaoggi.it
Now, after the Superbonus, take advantage of the Income Tax Declaration to save a lot of money. It’s the best solution.
As we well know, due to the huge taxes on capital gainsthe Italian real estate market is facing a serious crisis. What you probably didn’t know about this ‘consequence’ of the Superbonusis that now you will have to be particularly careful to the Income Tax Return.
But in what sense? And how might things change with capital gains in the coming years? Let’s find out together right away.
Many Italians have used the Superbonus to be able to renovate their home. However, nowadays, if they decided to sell it they would be ‘forced’ to pay a tax on the much talked about capital gains. Italian law currently requires this taxation to be applied within 10 years since the end of the renovation works. But what is meant by capital gain? It’s the difference in value between the purchase and the sale (which will certainly be greater given the work carried out).
Yet it would appear that things may be changing slightly positively. Here’s why.
How this real estate market crisis will be resolved
As mentioned previously, people struggled more to sell their homes and, therefore, we heard about a crisis in the real estate market. However, in these hours the senator spoke Lavinia Mennuni of Fratelli D’Italiato try to reassure Italians. The woman presented an amendment to the 2025 Budget Law, which would provide for an important change: a reduction in the time for the application of the tax on capital gains and 10 at 5. Reducing this terrible tax would be the first way to encourage citizens to buy and sell homes.
Also remember a fundamental detail if you are also ‘forced’ to pay this tax: you will have to declare it to the Revenue Agency.
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Capital gains and the Income Tax Return
The Income Tax Declaration comes into play because the taxation on the capital gains given by the Superbonus must always be declared and paid through the Italian tax system. This means that, annually, they will have to be remembered within the 730 form. However, it must be underlined that Circular 13/E of 2024 from the Revenue Agency explained that this tax must be applied only at the first sale of the property and not on subsequent sales. However, with the new amendment the fiscal management of this operation could become increasingly simple and help us declare fewer amounts.
This will only mean one thing: less taxes to pay and more money saved! We just have to see how things progress.
Continue Reading
Lower the tax burden on homeowners selling their properties, thereby stimulating the real estate market. However, it is still under discussion, and its eventual implications will depend on how the proposed changes are implemented.
Guest 1: Hello, I’m Alessandra, a tax consultant with years of experience in real estate taxation. How can I help you today?
Guest 2: Hi Alessandra, I’m Paolo. I recently renovated my house using the Superbonus deduction, and now I’m worried about paying capital gains tax when I sell it. What exactly is capital gains tax, and how does it apply in my case?
Guest 1: Capital gains tax is a tax on the profit you make when you sell an asset, such as a house, at a higher price than you bought it. In your case, as you’ve renovated your house using the Superbonus, the value of your home has increased, and therefore, when you sell it, the difference between the purchase and sale price will be subject to capital gains tax.
Guest 2: That makes sense, but what about the new proposal to reduce the application of the capital gains tax from 10 to 5 years? How will that affect me?
Guest 1: Well, this proposed amendment to the 2025 Budget Law could be a potential game-changer for the real estate market. If passed, it would encourage more people to buy and sell homes, as they wouldn’t have to hold onto their property for as long to avoid the tax. However, it’s important to note that this change hasn’t been finalized yet, so we’ll have to wait and see if it becomes law.
Guest 2: I see. But even with the current tax rules, do I have to declare any of this information in my Income Tax Return?
Guest 1: Absolutely, any capital gains made from the sale of a property must be declared in your Income Tax Return, and if applicable, taxes must be paid. However, there is some good news – Circular 13/E of 2024 from the Revenue Agency states that this tax only applies to the first sale of the property, not subsequent sales.
Guest 2: That’s reassuring. What about the new amendment and its potential impact on taxation and home sales?
Guest 1: The new amendment could simplify the fiscal management of these operations and potentially
