Month: April 2023

Despite what one is led to think, the regulation of our country sets very stringent limits for taking advantage of the so-called first home benefits . The limits are above all of a temporal nature and, when they are not respected, they lead to the forfeiture of the bonuses . Not only that, for those who do not respect the deadlines imposed by the legislative system, fines and even very heavy sanctions can be triggered koh samui real estate

Specifically – again in accordance with the provisions of the law – to access the concessions on the first home during the sale of a property, it is necessary to communicate the buyer’s desire to establish his residence in the home within one year from the date of the deed.

Do I need to move my residential address to take advantage of the first home benefits?

This time limit cannot be extended, it is valid throughout the national territory and is independent of the methods in which the sale took place . In the same way, the obligation to change the residential address within a year has nothing to do with the economic value and the type of property purchased: in fact, both parameters are beyond any assessment of a tax nature .

Problems arise when the twelve – month deadline is not respected . In this case, the tax benefits for the payment of the taxes due (ie the registration fee, the mortgage fee and the cadastral fee) will no longer be valid . Furthermore, a fine equal to 30% of the amount indicated on the notarial deed can be imposed by the Revenue Agency .

When deciding to buy a property, it is always a good idea to ascertain whether there are legal concessions which allow you to save part of the money envisaged for the investment . In particular, the legislation currently in force in our legal system provides for a discount on the value of the taxes that must be paid to the State in the event that the buyer decides to declare the building object of the sale as their first home .