Castelnuovo del Garda

FURNITURE BONUS LINKED TO OTHER DEDUCTIONS, HOW IT WORKS

Over the past year, people have spent a lot more time at home than usual, and in many cases, this sparked the desire to make home improvements and finish both structural and purely aesthetic jobs that had been put off for a long time. Luckily, today many tax bonuses and home loans at competitive conditions to fund these jobs are available. So together we’ll see how the furniture bonus works and how to tie it to other incentives to obtain maximum savings.

Furniture bonus, what it is

This deduction lets all those that purchased new furniture or large electrical appliances in order to furnish a residential space to count on a 50% deduction in 10 annual quotas, based on how much was spent.
However, it’s important to remember that the chance to access this bonus is closely linked to the carrying out of some property renovation jobs on that same house for which the furniture was purchased. Besides actual renovation jobs, all the extraordinary maintenance, improvement, or preservation and restoration jobs fall under this category, too. However, these jobs must have begun before the date the furniture was purchased, and to be able to apply the bonus when filing financial statements, the taxpayer must have used the tax deduction for the jobs in question.
 

Furniture bonus and Ecobonus, can they be paired?

For anyone wondering whether the furniture bonus can be linked to other types of incentives like those for retrofit upgrade, the answer is it depends on a case-to-case basis. Jobs meant to improve energy efficiency generally can rely on different types of tax incentives, many very advantageous, and therefore you can’t connect the two different tax bonuses when doing your financial statements. Despite this, however there is one opportunity; many jobs that fall under the Ecobonus also fall under the definition of renovation jobs (like replacement of the hot water heater or thermal insulation jobs), to which, as we said before, you can add the furniture bonus, even though it’s always essential to calculate whether it’s worth it to do this type of job, since retrofit upgrades can count on a higher percentage of benefit.
by Francesca Lauritano

 


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