UPDATE: How Italy will extend its building ‘superbonus’


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The Italian government has announced an extension to its popular building ‘superbonus’ to give homebuilders more time to carry out delayed renovations.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Italy’s ‘superbonus 110‘ is set for yet another overhaul as the government on Monday approved an extension to the current deadline for single family homes. It comes after various sectors called for the bonus to be rolled on for this category of property, as owners must have completed 30 percent of the works by June 30th – a rapidly approaching deadline for those caught up in delays and at risk of not meeting it. READ ALSO: Italy’s ‘superbonus’ renovations delayed by builder shortages and bureaucracy Owners of single family homes will now have until September 30th to complete 30 percent of works, while the final deadline of December 31st, 2022 to finish all renovations still stands. It’s the latest extension to come for this building incentive – the Budget Law 2022, published on December 30th, 2021, rolled on the superbonus to the end of 2022, extending the previous final deadline of June 30th 2022 for detached houses. This update to the bonus forms part of a new €14 billion decree – more than double the amount originally budgeted. It forms one measure in the government’s new energy and investment decree (decreto energia e investimenti), including continuing cuts to excise duties on fuel, providing aid to companies hardest hit by the war in Ukraine and outlining national energy policies to reduce gas and electricity bills. READ ALSO: Rising energy prices: How to save money on your bills in Italy The superbonus has attracted plenty of international attention since it was first introduced in May 2020 to help restart Italy’s lagging, Covid-hit economy. The building bonus offers homeowners a tax deduction of up to 110 percent the cost of renovation work related to making energy-efficiency upgrades and reducing seismic risk. But the popular scheme has been entangled in bureaucracy and delays, leaving many property owners trying to use it concerned about whether they’ll able to finish their renovation projects in time. A three-month reprieve will ease the pressure on those caught up in the middle of works and hoping to use the bonus before it expires for single family homes.

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Italy’s superbonus scheme was introduced to reinvigorate the country’s sluggish real estate market, with the aim of reviving many old and abandoned properties. Photo by Marcus Ganahl on Unsplash

How the superbonus will be extended The latest change to the bonus has been discussed over recent weeks, as the upcoming deadline began to create further delays. Some companies had refused to accept new work in the knowledge that they will not be able to complete 30 percent of the work by the June deadline, while ongoing jobs experienced further slowdowns causing much anxiety for those up against the clock. The deputy minister for economy and finance, Federico Freni, said in March, “The situation of expensive materials and in general legislation on this sector requires special attention,” according to property portal Idealista. In a press release, the government confirmed that single family homes would now have until September 30th to complete 30 percent of overall works. If a project hasn’t reached that amount by then, that will become the final deadline and no more aid can be claimed for the rest of the year. Further details on a restart to the credit transfer system are also expected in the final – and as yet unpublished – decree. Many banks and financial institutions had stopped buying credit, effectively blocking work and putting companies and citizens at risk of losing any investments already made. Opening up the transfer of credit to more parties than banks and insurance companies is hoped to ease the supply chain and allow more parties to purchase the credit in order to finance building works. Why are there delays to accessing the bonus? Interest in the scheme has been high from the start, so much so that delays began to build up early last year. The backlog has only worsened, with some homeowners scrapping their plans to use the bonus as a result, or even selling on an old property they’d bought on the back of the scheme’s announcement. Requests for the bonus has meant unprecedented demand for building companies, driving competition and putting more homeowners on ever-lengthening waiting lists. READ ALSO: How Italy’s building bonuses are delaying the restyle of one-euro homes Simply finding a building company and certain building professionals with any foreseeable availability is a challenge for some. The rising expense of materials, as mentioned by Freni, has also played a part in slowing down access to the superbonus. A worldwide boom in material prices, made even worse in Italy by enormous demand due to the popularity of the superbonus, has meant that some original quotes have sharply increased when building work actually gets underway. This has effectively cancelled out the tax bonus, meaning some are simply no longer able to afford the renovations. READ ALSO: The hidden costs of buying a home in Italy

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Italy expands €200 benefit scheme and introduces public transport bonus

Italy’s government will extend its proposed one-time €200 benefit to additional categories of people and introduce a €60 public transport bonus, Italian media reported on Thursday. Published: 6 May 2022 11:16 CEST

Italy expands €200 benefit scheme and introduces public transport bonus

Seasonal workers, domestic and cleaning staff, the self-employed, the unemployed and those on Italy’s ‘citizen’s income’ will be added to the categories of people in Italy eligible for a one-off €200 payment, ministers reportedly announced on Thursday evening. The one-time bonus, announced earlier this week as part of a package of financial measures designed to offset the rising cost of living, was initially restricted to pensioners and workers on an income of less than €35,000. However the government has agreed to extend the payment to the additional groups following pressure from Italy’s labour, families, and regional affairs ministers and representatives of the Five Star Movement, according to news agency Ansa. Pensioners and workers will reportedly receive the €200 benefit between June and July via a direct payment into their pension slip or pay packet. For other categories of workers, a special fund will be created at the Ministry of Labour and the disbursement procedures detailed in an incoming decree, according to the Corriere della Sera news daily. One new measure introduced at the cabinet meeting on Thursday is the introduction of a one-time €60 public transport bonus for students and workers earning below €35,000. The bonus is reportedly designed to encourage greater use of public transport and will take the form of an e-voucher that can be used when purchasing a bus, train or metro season pass. Other provisions reportedly proposed in the energy and investment decree (decreto energia e investimenti), which is still being adjusted and amended, include extending energy bill discounts, cutting petrol excise duty and rolling on the deadline to claim Italy’s popular ‘superbonus 110’. The €14 billion aid package, intended to lessen the economic impact of the war in Ukraine, will “fight the higher cost of living” and is “a temporary situation”, Prime Minister Mario Draghi has said.

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