First go-ahead

Superbonus: confidence approved in the Senate with 101 yes and 64 against. The decree goes to the House. All you need to know for cottages and condominiums

Spreading deductions over ten years. Cut to the renovation bonus. Stop compensations for banks. These are some of the novelties included in the text of the superbonus decree

by Giuseppe Latour and Giovanni Parente

15 May 2024Articolo aggiornato il 16 maggio 2024, ore 10:40

5' min read

Key points

New developments in committee passage
In declaration bonus spread over ten years
One-way street after declaration
Restructures, bonus drops to 36% from 2025 and then to 30% from 2028 to 2033
Banks, Inps and Inail contributions no longer compensable from 2025
Penalised bargain credits
Earthquake-affected areas with additional resources for reconstruction

5' min read

Expenses deductible no longer in four but in ten years and a squeeze on renovations, with the reimbursement dropping to 30 per cent from 2028; but also derogations for earthquake-stricken municipalities and non-profit organisations: after the go-ahead in committee, the Superbonus decree obtained the approval of the Senate's plenary chamber with a vote of confidence.

The measure was given the green light with 101 yes, 64 against and no abstentions. Now the text of the tax measure passes to the House

Rosso (Fi): "We will vote confidence in the government"

Despite its contrary position on the solutions envisaged in the decree, Forza Italia had announced that it would not stand aside at the time of the vote in the chamber. "The difference of vision on the retroactivity issue, on which we would have preferred greater collegiality in the majority, does not prevent us from being in favour of the measure as a whole due to the deep loyalty that characterises Forza Italia," clarified Roberto Rosso, an Italian senator from Forza Italia, speaking in the Senate's explanations of vote on the superbonus decree, and thus announcing Fi's go-ahead for the confidence vote. "Hoping that this is the last decree modifying the rules of the superbonus, it is now time to look ahead," he had added. 'Certainly on some aspects of this decree we have discussed a lot in the majority and will continue to discuss,' he had concluded. On the other hand, the government is not supported by a single party, but by several parties, with ideas that are similar in many cases and different in others. But our strength is that we always know how to find a synthesis. We never lose the conviction that the centre-right founded by Silvio Berlusconi is the best possible alliance to govern our country'.

New developments in committee passage

Spreading deductions over ten years. Cut to the renovation bonus. Stop compensations for banks. These are some of the novelties included in the text of the superbonus decree with the green light from the Senate Finance Committee.

Superbonus, vincitori e vinti dopo la stretta di Giorgetti. Cosa accade ora

In declaration bonuses spread over ten years

Deductions for expenses incurred from 2024 onwards relating to the superbonus, the architectural barriers bonus and the seismbonus (including the purchase seismbonus) are spread over ten years, instead of over four to five years as currently provided. The obligation to spread out over ten years only applies to the direct use of bonuses in declarations and does not affect the use of tax credits from assignment or invoice discounts. It follows that companies that have acquired the credits, also as a result of the invoice discount, will continue to use them according to the current apportionment in four instalments if related to the superbonus and in five instalments if related to seismbonus interventions, seismbonus purchases and architectural barriers bonus (even if the credits refer to expenses incurred after 1 January 2024).

One-way street after declaration

Those who have already taken a home bonus instalment as a deduction will now have a one-way street ahead of them: they will no longer be able to surrender the remaining instalments, but will have to pass everything through the declaration in subsequent years. This is stated in one of the passages of the amendment presented by the government and approved by the Senate Finance Committee. "In any case, it is not allowed to exercise the option" of assigning the credit and discount on the invoice "in relation to the residual instalments not yet used of the deductions deriving from the expenses for interventions" connected to the home bonus. The novelty concerns all transferable bonuses. Therefore, not only the superbonus, but also the renovation bonus, the ecobonus and the sismabonus.

Restructuring, bonus drops to 36% from 2025 and then to 30% from 2028 to 2033

With the amendment approved in the Senate Finance Committee, a cut in the renovation bonus from 2028 materialises. From that year and until 2033, the rebate will no longer be 36%, but 30. It should be remembered, in this regard, that the renovation bonus is structurally financed at 36%: an amount that has been increased several times. Currently, the discount is 50% until 31 December this year. In itself, therefore, the measure has, for now, little immediate impact. It appears, however, to be the first sign of the cut in tax expenditures towards which the sector seems to be heading. It is increasingly likely, that is, that the next Budget Law will not intervene on the 50 per cent tax rebate, going along with the cut already envisaged in the law: this would move to 36 per cent from 2025 and then to 30 per cent from 2028. The expenditure ceilings also change in this context. From the current 96,000 euro, this will be reduced to half in January 2025: 48,000 euro. A limit that should be confirmed from 2028.

Banks, Inps and Inail contributions no longer compensable from 2025

The government's amendment to Decree-Law No. 39/2024 approved by the Senate Finance Committee provides that as of 1 January 2025 banks, financial intermediaries and insurance companies will no longer be able to offset tax credits from tax bonuses against: social security contributions owed by holders of insurance positions in one of the managements administered by social security institutions, including membership fees; social security and welfare contributions relating to employees; and premiums for insurance against accidents at work and occupational diseases. In cases of violation of the prohibition, the recovery of the unduly compensated amount is provided for, with interest and an administrative tax penalty.

Penalised credits at bargain prices

An anti-usury rule is also envisaged. Banks, insurance companies, and brokers who have purchased credits at a price of less than 75 per cent will have to apply the six-year apportionment to these instalments as of 2025. Credit instalments resulting from the new apportionment may not be further apportioned or assigned. The rule applies to credits generated as from May 2022. The new obligations are not triggered if banks and brokers have purchased the credits at a price equal to or greater than 75 per cent of the amount of the deductions and this is attested by a substitute declaration. It should be noted that market prices, for banks, have been higher than the threshold indicated by law (currently around 85%).

Earthquake-affected areas with additional resources for reconstruction

The government's amendment to the superbonus decree approved by the Senate Finance Committee envisages the creation of a fund with an endowment of 35 million for 2025, aimed at recognising a contribution for the benefit of subjects incurring expenses for superbonus interventions (both energy and earthquake-proof) on buildings damaged by earthquakes occurring since 1 April 2009, other than those located in Abruzzo, Lazio, Marche and Umbria. The contribution will be disbursed at the request of the interested parties. An ad-hoc decree will establish the maximum limit of the contribution due to each applicant, the content of the application and the procedures for applying the provisions.