In this article you will find all the information regarding how much taxes you will have to pay in the case of buying a house, or in case of sale.
Here are the questions I have to answer most often in my job:
- What do the first home benefits consist of?
- How much tax do I have to pay when buying the house?
- Can I sell a house before the age of 5?
- How much taxes do i have to pay if i sell a first home?
First home benefits: requirements
To benefit from these benefits it is necessary to possess certain characteristics such as:
- Not having already requested them in other purchases;
- Reside in the municipality where the property for which you want to benefit from the discount is located (or bring it within 18 months);
- Do not have other properties, shares of them or in communion with the spouse, right of usufruct, use or residence of other houses in the municipality where you want to buy the first home;
- The property must not be a luxury home (cadastral category A / 1 A / 8 A / 9).
How are taxes on the first home calculated?
The amount of these concessions varies according to the seller of the property, or whether it is a private individual or a construction company.
private purchase ---> 2% (instead of 9%) reduced cadastral income (multiplier 115.5 instead of 126 as a second home)
mortgage and land registry taxes 50 € + 50 €.
purchase from business ---> VAT reduced to 4% (instead of 10%) on the property value declared in the deed
fixed mortgage and cadastral tax of 200 € each.
Is it possible to sell a house before the age of 5?
the answer is basically yes, but there are rules to respect if you don't want to run into penalties and requests for tax refunds …
How much taxes do i have to pay if i sell a first home?
This question can be answered ZERO and A LITTLE 🙂
If you sell a first home before the age of 5, without subsequently buying another one, you may find yourself faced with an assessment by the revenue agency that will demand reimbursement of the subsidy you have benefited from plus a 30% increase. .
If, on the other hand, you sell a first home before the age of 5 but, within 12 months of the sale, you buy another, you can benefit from a "tax credit" that will allow you not to lose the benefits.
You will find more detailed information on this topic here -> WHAT IS THE TAX CREDIT
If, on the other hand, you have to sell a house you bought without requesting the first home benefits, you will find all the information on taxation in this other article -> TAXES ON THE SALE OF THE SECOND HOME
What is your case history? Do you have to plan the resale of a property? Contact me with the form below for tax advice!
