The Italian Budget Law 2017 (Law no. 232 of 11 December 2016) was extended until 31 December 2017, the opportunity to take advantage of the income tax deduction (50%) for building renovations, confirming the maximum of EUR 96,000 spending limit per housing unit. From 1st January 2018 the deduction will be back (I would say “probably”) to the ordinary measure of 36% and with a limit of € 48,000 per housing unit.
It has also been extended to the 50% deduction for the purchase of furniture and large appliances class not less than the A +, aimed to furnishing of properties subject to restructuring. For these purchases are deductible documented expenses incurred and from 6 June 2013 to 31 December 2017. Since 2017, however, the deduction is allowed only if the building renovation intervention began on a date not earlier than 1 January 2016.
