Goodbye to the “first home” bonus for under 36s: What’s changing in 2024

A bonus for young people living the last months of their lives, as there are no twists and turns. On the mortgage front, the Meloni government’s new maneuver provides for the expansion of benefits for under-36s, but the same cannot be said for the “first home” bonus for boys and girls under 36. The “stamped” version of the budget law sent to the Senate does not include the renewal of the measure that provides for the abolition of taxes on the purchase of primary housing. We will return to normal rules starting next year, with the deadline set as December 31, 2023. Therefore, you have less than two months to benefit from the full reduction in registration, mortgage and title deed taxes and the tax reduction in the amount of VAT paid.

Stop “first home” bonus for under 36s

The rule, which will expire at the end of 2023, was introduced in May 2021 with the Sostegni bis decree and provides greater convenience for young people under 36 to purchase their first home. This is an exemption from registration, mortgage and cadastral tax payments, which was extended by the last Budget until 31 December 2023, as well as a tax credit of up to 40 thousand euros in the amount of VAT that young people with ISEE are likely to pay. Looks like one last holdout. Given the complete absence of the measure in the 2024 budget, the draft text sent by the Government to the Senate actually includes only a partial scope of assistance to promote young people’s housing independence, and in particular only up to 80% is guaranteed by the State in the case of the purchase of properties whose value does not exceed 250,000 euros The guarantee fund for the stipulation of mortgages is being refinanced with a total of 282 million euros. Frankly, it should not be forgotten that the Budget Law process has not yet been completed, so further changes cannot be ruled out before the end of the year.

Normal rules return

If there will be no extension as it seems, the rules stipulated before the arrival of the bonus will return. Unlike what was envisaged until 31 December 2023, the elimination of all taxes payable on sales made from 1 January 2024 will be replaced by the following concessions:

  • Pro rata registration tax of 2%;
  • Fixed mortgage tax of 50 euros;
  • Fixed cadastral tax of 50 euros.

If the house is purchased from a company, registration, mortgage and cadastral taxes must be paid in a fixed amount of 200 Euros each, and 4% VAT must be added to these. However, the general rules do not change. The “first home” bonus is valid when purchasing a main house in the non-luxury cadastral category (cadastral categories A\2, A\3, A\4, A\5, A\6, A\7, A). \11) “first home” bonus if the buyer is based in the municipality in which he maintains or will establish his residence or business activity and does not own other properties in the same municipality or other properties that have already benefited throughout the national territory. In the latter case, taking advantage of the tax deduction a second time is subject to the sale of the currently owned house within one year from the date of the new purchase.

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Source: Today IT