The furniture premium has also been approved for 2024, meaning the Irpef deduction is necessarily linked to extraordinary maintenance or renovation work. However, there is something new: The maximum spending ceiling, which was 8 thousand euros in 2023, drops to 5 thousand euros in 2024. Let’s take a closer look at what the furniture premium is, who is entitled to it and what needs to be done to benefit from it. BT.
What is the furniture and appliances bonus
The furniture and appliances bonus consists of the IRPEF deduction for the purchase of furniture and major appliances intended to furnish a property under renovation.
The deduction should be calculated on a maximum of 8,000 Euros for 2023, and should decrease to 5,000 Euros for 2024 (including transportation and installation costs). The expense must be divided into ten annual installments of the same amount. Over the years there has been a gradual reduction: in 2021 the expenditure ceiling against which the cut will be calculated was equal to 16,000 euros; For 2022, this figure was equal to 10,000 euros.
Who can request a furniture or home appliance bonus?
Anyone who purchases new furniture and household appliances until December 31, 2024 and who has renovated a building as of January 1 of the year before the date of purchase of the goods can benefit from the discount.
The maximum spending limit concerns a single real estate unit or the common part of the building being renovated, including additional items. Therefore, taxpayers who carry out renovation work on more than one real estate will be able to benefit from the assistance more than once.
Even if the goods are purchased with an installment loan, the discount is allowed provided that the company giving the loan pays the amount as stated above and the taxpayer has the payment receipt.
Payment must be made by bank transfer or debit card or credit card. However, payment by bank cheque, cash or other means of payment is not allowed. The documents to be kept are:
- proof of payment (bank transfer receipt, transaction receipt, for payments by credit or debit card, proof of debit on the current account);
- invoices for purchases of goods reporting the nature, quality and quantity of goods and services purchased;
- The receipt indicating the buyer’s tax code is equivalent to the invoice indicating the nature, nature and quantity of the goods purchased.
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What can you buy with a furniture or appliances bonus?
The deduction is for the purchase of:
- new furniture;
- The energy class for equipment requiring an energy label ranges from class A for ovens, class E for washing machines, tumble dryers and dishwashers, and class F for refrigerators and freezers for new large household appliances.
Concretely, “permitted” furniture includes kitchens, beds, wardrobes, dressers, bookcases, desks, tables, chairs, bedside tables, sofas, armchairs, sideboards, as well as mattresses and lighting fixtures that form a necessary complement to the furniture. The property of the room is under renovation. However, no deductions are made for the purchase of doors, flooring (e.g. parquet), curtains and curtains and other furniture accessories.
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Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
