THE 2024 FURNITURE AND HOUSEHOLD APPLIANCES INCENTIVE: EVERYTHING YOU NEED TO KNOW
15 April 2024
Take advantage of the 2024 furniture and household appliances incentive to give your kitchen a makeover.
Read our guide for full details.
THE 2024 FURNITURE AND HOUSEHOLD APPLIANCES INCENTIVE: HOW TO MAKE THE MOST OF IT
The Furniture and Household Appliances Incentive introduced with Italian Law Decree 63/2013 was extended by the 2022 Italian National Budget Law to also include expenses incurred for the purchase of furniture and large household appliances in 2022, 2023 and 2024.
The incentive that can be used for 2024 consists in a 50% personal income deduction of the expenses incurred for the purchase of furniture and large household appliances to furnish refurbished properties, calculated on a maximum sum of 5.000 Euros, inclusive of any transport and assembly costs and split into ten equal annual instalments.
They are therefore an excellent incentive to install a new kitchen, provided the conditions set forth in the regulations are met. Let’s take a closer look.
WHAT DO THE 2024 FURNITURE AND HOUSEHOLD APPLIANCES INCENTIVES ENTAIL?
Work eligible for a personal income tax reduction under Article 16 of the Consolidated Income Tax Law
- Extraordinary maintenance
- Refurbishment and conservative renovation
- Building renovation on individual apartments
- Rebuilding or restoration of a building damaged by natural calamities, for which a state of emergency has been declared
Amount of the incentive (2024)
€ 5.000,00
Kitchen elements covered by the Incentive
- Kitchen/dining room furniture
- Hobs
- Energy class A or higher ovens
- Dishwashers (not lower than class E)
- Refrigerators and freezers (class F and higher)
- Microwave ovens
- Lighting systems
- Extraction/ventilation systems
Kitchen elements NOT covered by the Incentive
- Doors and frames
- Flooring
- Curtains and blinds
Expenses included in the Incentive
- Transport
- Assembly
Deadline for building renovation work
- It must not start before 1 January of the year preceding the purchase of the furniture
- The work start date can be demonstrated either by permits and declarations required under construction regulations or by the work start date of which the Local Health Authority was notified in advanced, where compulsory
- For work that does not require declarations or permits, the work start date will be identified by a statement in lieu of affidavit (Article 47 of Italian Presidential Decree 445/2000)
Means of payment permitted
- Bank transfer
- Credit card
- Debit card
Means of payment NOT permitted
- Cash
- Cheques
- Other non-traceable forms of payment
Documentation to be retained and submitted in order to claim the incentive
- Bank transfer receipts
- Transaction receipts for payment by credit or debit cards
- Current account debit documentation
- Purchase invoices
- Receipts ONLY if they state the buyer’s tax code and indicate the nature, quality and quantity of the goods purchased (talking receipt)
How to claim the 2024 Furniture and Household Appliances Incentive
- Using Form 730 or the Natural Persons Income Tax Return of the taxpayer who uses the deduction for refurbishment expenses and indicating the costs incurred
- It is also mandatory to inform the ENEA (Italian National Agency for New Technologies, Energy and Sustainable Economic Development) of the energy class of the household appliances purchased and power consumption (kW)
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CHARACTERISTICS OF THE 2024 HOUSEHOLD APPLIANCES INCENTIVE
When installing a kitchen, the household appliances represent a considerable cost, especially if you intend to make a long-term investment by buying high-quality, energy-efficient products.
As already shown in the summary table, of the household appliances used in the kitchen, the incentive covers all energy class A+ products, ovens from class A, dishwashers not lower than class E and class F or higher refrigerators and freezers.
Remember that in order to obtain the deduction for the purchase of ovens, fridges/freezers, dishwashers and electric hobs, it is compulsory to send the ENEA, within 90 days of the date of the bank transfer or other proof of purchased permitted, the energy class and power consumption data. For further information on how to submit the data, see the ENEA website.
It is therefore possible to buy efficient, sustainable household appliances and contribute not only to reducing domestic energy consumption, but also to considerably reducing the CO2 emissions released into the environment.
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CHARACTERISTICS OF THE 2024 FURNITURE INCENTIVE
The 2024 Furniture and Household Appliances incentive can therefore be an excellent encouragement for purchasing a new kitchen, provided the deduction eligibility criteria are met.
The incentive covers the purchase of both the elements constituting the kitchen per se, such as base units, wall units, tall units, drawer units, work tops and washing and cooking areas, and islands, peninsulas, snack counters, tables, chairs and stools.
Lighting is also covered by the incentive, making it possible to choose from different LED solutions for inside and outside the furniture, spotlights and pendant lamps.
Extraction and ventilation systems are also covered.
Lastly, the deduction can also be applied to transport and assembly costs.
Floorings, curtains and blinds, doors and external frames, on the other hand, are not covered.
HOW TO USE THE 2024 FURNITURE AND HOUSEHOLD APPLIANCES INCENTIVE
In order to make the best possible use of the 2024 furniture and Household Appliances Incentive, first check that you meet all the requirements, by thoroughly consulting the relevant documentation made available by the Italian Revenue Agency.
The regulations also include some opportunities that could go unnoticed by an inexpert eye, such as the possibility to make use of the incentive to purchase kitchen furniture even when the refurbishment work regards the bathroom, rather than the kitchen.
This is why we strongly recommend you get professional support, and discuss the matter first with your accountant, before entrusting a design studio or contractor that will manage all the paperwork needed to take full advantage of this initiative.
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