Superbonus condominiums, what happens to works not completed by 31 December 2023

Superbonusthe hands move and the date of December 31, 2023 is now around the corner.

This is the deadline to be respected for thecompletion of works already started for the purposes of enjoying the superbonus of 110 percent or 90 percentdepending on their start date.

Once the end of the year has passed, the superbonus is destined to be lost appeal in the light of reduction already put in black and white the percentage of deduction due.

What happen so in condominiums where the work will not be able to be completed in time? The current scenario and the hypotheses in the field.

Superbonus condominiums, what happens to works not completed by 31 December 2023

The hypothesis of an extension of the super bonus for condominiums remains in the field, despite the closure by the Minister of Economy Giancarlo Giorgetti regarding the continuation of the experience of the 110 percent relief.

The wait regarding possible interventions, which could find space in the Advances decree or in the 2024 Budget Law, is linked to the fact that according to the data provided by Sole24Ore I am 36,000 condominiums have started work during the year but for which the closing date of the construction sites is far from close.

It would be about around 13 billion euros of interventions still underway or waiting to startfor which the date of 31 December 2023 is therefore crucial.

According to the rules currently in force, the arrival of the new year will also effectively represent the end of the superbonus experiencewhich will end definitively for single-family homes and will instead return to the ordinary for i condominium work.

These are the categories of interventions that drive the growing trend of investments reported in the latest ENEA report in October, which recorded an increase of 4.3 billion euros, bringing the figure relating to condominium works to 54.1 billion euros .

Expenses for which you will need but reach a conclusion in a short time. What will happen to those who will not be able to hit the end of the year date for completing the work?

Both for cases in which the superbonus is still recognized at 110 percent and for those who have already undergone the reduction to 90 percent, from 1 January 2024 a new scissor to the percentage of deduction recognized.

The super bonus will drop next year 70 percentwith a value that is therefore even lower than what is expected in the case of access to the ordinary ecobonus, which reaches up to 75 percent in the case of interventions that improve the energy efficiency of buildings and which, if interventions are also carried out of anti-seismic adaptation in risk areas, rises up to 85 percent.

Super bonus in condominiums at 70 percent from 1 January 2024, awaiting extension

The regulatory uncertainty, the numerous ongoing changes also to the deadline calendar and the problem of blocking of credit transfer and invoice discount have contributed to slowing down the construction sites already underway.

With less than a month left until the end of the year, it is therefore difficult, if not impossible, to think that all the condominium owners who have taken the super bonus route will be able to complete the work in progress.

According to time line provided for by paragraph 8-bis, article 119 of the relaunch decreefrom 1 January 2024 the expenses incurred will therefore no longer be facilitated with the deduction percentages of 110 or 90 percent, but will go to 70 percent, and will then be further reduced in 2025 to 65 percent.

So these are the rules on which mediation is being sought with the Government to reach a compromise.

The goal is therefore give condominium owners more time for the completion of the works already started and one of the hypotheses in the field is that the deadline will be extended to the middle of next year, but only in the case of SAL at 60 percent (or 30 percent) achieved by 31 December 2023.

News which in any case clash with what has been repeatedly highlighted by the Minister of Economy, Giancarlo Giorgetti, who is against the extension of the superbonus.

The road therefore still appears uphill, while the dead line December 31st is approaching. It is therefore time for condominiums to accelerate or, in case of impossibility in completing the works by the end of the year, take into account (also and above all on the economic front) the impact of the reduction of the 70 percent superbonus.