The upcoming arrival of June 30th also marks the approaching of new deadlines, including that of the 110% Superbonus. However, just around the corner, there is an extension awaiting us.
For the Superbonus and public housing, there will be more time in condominiums as the deadline has been extended until december 2023, provided that the private individuals’ shares prevail over the Entities ERP (Institute for Public Housing) shares. In all other cases, it is necessary to have reached a progress status of at least 60% (Sal – Stato di avanzamento lavori) by the next June 30th. It is also important to remember that, in any case, the June 30th deadline does not apply to works concerning mixed condominiums, which are buildings where there are residential units owned by public entities. In summary, this will be the new scenario:
- The 110% Superbonus has been extended until december 2023, provided that the private individuals’ shares prevail over the shares of the Public Housing Entities (Enti ERP);
- In all other cases, it is necessary to have reached a progress status of 60% by the next June 30th;
- The June 30th deadline does not apply if the works concern mixed condominiums.
Finally, it is worth noting the publication on June 13, 2023, by the Italian Revenue Agency, of a new circular (Circular 13/E) that addresses the main updates regarding the Superbonus in relation to the decree-law 176/2022 (aid quater), the 2023 budget law, and the decree-law 11/2023 (cessions decree). In this new circular:
- For Public Housing Entities (Enti ERP), the 110% tax deduction is valid throughout 2023 for interventions carried out on social housing, provided that by June 30, 2023, work has been completed for at least 60% of the overall intervention.
- The deadline extension for the Single-Family Superbonus: for all interventions carried out on single-family buildings starting from January 1, 2023, a 90% tax deduction is applicable for expenses incurred until december 31, 2023, provided that the taxpayer meets the following conditions (ownership or real right of enjoyment on the property, the residential property is used as the main residence, and the income does not exceed €15,000).
- Taxpayers can now spread the deductions resulting from expenses incurred in 2022 for building interventions eligible for the Superbonus over a period of 10 years instead of 4. This new option, aimed at facilitating the utilization of the deduction by taxpayers, is effective starting from the 2023 tax year;
- A tax discount is available for photovoltaic systems installed by non-profit organizations (ONLUS). The deduction is calculated on the total amount of expenses, not exceeding €48,000, and within the spending limit of €400 per kilowatt (kW) of nominal power of the system.
Strong penalties are imposed in case of errors in invoices related to Superbonus interventions subject to the transfer of tax credits or discounts. A penalty of 30% applies in the case of a non-eligible credit and a penalty of 200% applies for a nonexistent credit. Further clarification on this matter has been provided in response number 348 dated June 14, 2023. The Italian Revenue Agency specifies that “the applicable penalty in this case is determined by article 13, paragraph 4, of Legislative Decree No. 471 of 1997, which penalizes the ‘use of […] an existing tax credit […] in violation of the methods of use provided by the current laws,’ or, in this case, before sending the correct communication. The mentioned penalty is subject to correction as per article 13 of Legislative Decree No. 472 of December 18, 1997, and until September 30, 2023, it can also be corrected through the so-called ‘special’ correction, within the terms and conditions established by article 1, paragraphs 174 to 178, of Law No. 197 of december 29, 2022.”