First home benefits and taxes – what really happensFirst home benefits and taxes – what really happensDuring last months, we heard a lot about “first homes” reforms and new regulations, but nothing is clear yet. From January, 1st, indeed, the “first home” benefits applicable for the homes transferring are bounded to the cadastral category into which the property is classified or can be classified – 02/08/1969 D.M.. However, properties subjected to VAT still refer to this decree. So, here the problem.
Regarding the properties subjected to stamp duty, the Agenzia Delle Entrate has reminded that, after the news introduced by art. 10, the stamp duty rates for acts having real estate subjects of rights are three: 2% for the “first homes”; 9% for the properties which cannot be identified as “first homes” and for the non-residential ones; 12% for the farm lands and their appendants transferring. The proportional taxation deriving from the application of the above mentioned rates cannot be lower than € 1.000,00. If case of some specific conditions, it is possible to apply a benefit to a “first home” property if it is part of one of the following cadastral categories:
Civilian home (cat. A/2);
Economic home (cat. A/3);
Popular home (cat. A/4);
Ultra-popular home(cat. A/5);
Rural home (cat. A/6);
Small villas home (cat. A/7);
Local traditional home (cat. A/11).
Noble home (A/1), villa (A/8), prestigious castle and palace (A/9) are not included into the “first homes” benefits.
Regarding the transferring subject to VAT, it is possible to use the “first home” benefits for the non-luxury homes, identified according to the 02/08/1969 D.M. criteria. It has to be remembered also that the transferring or the “first home” right constitution liability for stamp duty purposes more than for a VAT ones will affect the mortgage and cadastral applicable taxation too. For the transferring subjected to VAT, indeed, the mortgage and cadastral taxes are applied at the fixed rate of € 200,00 each. A € 200,00 fixed stamp duty is applied too. For the transferring subject to stamp duty, the mortgage and cadastral taxes are applied at the fixed rate of € 50,00 each. All those who have purchased a house as their “first home” may have a tax credit by purchasing a new non-luxury property, but only within a year from its alienation.