What changes with the abolition of the discount on invoices and the transfer of credit for those who want to renovate their home in 2023. WATCH THE VIDEO
The government, by abolishing the discount on invoices and the transfer of credit for new construction sites, has decided to put an end to the possibility of renovating the house without substantially anticipating any expenses. The various building bonuses – the superbonus 110% but not only – allowed the owner to ask for a discount on the invoice directly from the building company, which in this way opened the construction site by anticipating the expenses which he would then recover by transferring the tax credit.
What actually changes
Let’s take a concrete example, taking the case of the renovation of a condominium consisting of ten apartments. According to Enea data, on average the renovations financed with the Superbonus 110% (now, from 2023, lowered to 90%) on condominiums cost just under 600 thousand euros. With the discount on the invoice – now abolished – homeowners were able to ask the building company to advance 90% of the expenses. They were thus called to advance only 6,000 euros each. This is in theory, because in reality the invoice discount requires administrative costs and a discount rate linked to the credit.
Now instead that the only instrument for repaying tax bonuses are deductions in tax returns, the scenario changes. The ten owners will have to advance all the restructuring costs – 600 thousand euros divided by 10, 60 thousand each – of which they will then be able to recover 90% through the related tax returns over the course of ten years. In short, the real expenses for each owner will always be equal to 6 thousand euros, but in the case of the discount on the invoice these were anticipated by the company, while the deductions allow the money to be recovered only over the years (moreover exposed to the devaluation due to the inflation).
Preferred method invoice discount
It is no coincidence that the majority of Italians have chosen the discount on invoices and the subsequent transfer of credit in recent years.
According to numbers from the Ministry of Economy, at least more than half of the total tax credits linked to building bonuses were requested through the sale. A percentage that will probably grow because landlords are not required to communicate the decision immediately.
The future of renovations
A sharp slowdown in building renovations is therefore to be expected, which in the last year reached an impressive all-time record.
On the other hand, the 110% superbonus had already been crippled by the reduction in the benefit paid by the state, which had risen to 90% from 2023 for the vast majority of residential buildings. For condominiums in primis, and for single-family houses as long as the owner has a reference income of less than 15 thousand euros.
Uncertainty remains as to who will pay for all the building and energy redevelopment works required by the European Union through the directive under discussion which provides for a significant reduction in CO2 emissions due to homes.
Source-tg24.sky.it