The 2017 Budget Law provides, from January 1, 2017, until December 31, 2021, for the introduction of a tax bonus for seismic improvement interventions on existing buildings and the subsequent introduction of the “Guidelines for the seismic risk classification of constructions“.
Who is it for?
This benefit applies not only to buildings located in high-hazard seismic zones (zones 1 and 2) but also to buildings located in seismic zone 3.
What does it consist of?
A 50% deduction is provided, divided into 5 equal annual installments.
The deductions apply to an amount of expenses not exceeding 96,000 euros multiplied by the number of real estate units in each building.
If the implementation of interventions related to the adoption of anti-seismic measures results in a reduction of seismic risk that determines the transition to a lower risk class, the tax deduction is due at a rate of 70% of the expenditure incurred.
Where the intervention results in a transition to two lower risk classes, the deduction is due at a rate of 80 percent.
What are risk classes?
By February 28, 2017, the “Guidelines for the seismic risk classification of constructions“ will be adopted, which is a document that will allow technicians to classify buildings based on their seismic vulnerability. Until the guidelines come into effect, the bonus is granted at a rate of 50%.
Can it also be applied to apartment buildings?
If the interventions are carried out on the common parts of apartment buildings, the tax deductions are due at a rate of 75 percent (transition to one lower risk class) and 85 percent (transition to two classes).
Can an apartment building proceed with the works if there are low-income owners who cannot benefit from the deduction?
As of January 1, 2017, instead of the deduction, low-income beneficiaries may opt to transfer the corresponding credit to the suppliers who carried out the interventions as well as to private entities, with the possibility that the credit may be subsequently transferable.
Can technical expenses be deducted?
Deductible expenses also include costs incurred for the seismic classification and verification of the properties.
WHAT CAN WE DO FOR YOU?
With a view to allowing you to access the tax bonus, we can:
- perform the seismic verification of your building;
- propose effective technical solutions to reduce the seismic risk associated with your property as much as possible;
- prepare a bill of quantities related to the proposed interventions, tailored to the expected objective;
- obtain the necessary licenses to follow through with the project;
- supervise the works in order to guarantee total correspondence between the project and the execution, reducing any unforeseen events during the performance of the works.
Why choose us:
If you want to seismically retrofit your property, rely on us because:
- our staff consists of structural engineers specialized in seismic modeling and design;
- we have specific software and expertise to improve and seismically retrofit buildings in masonry, reinforced concrete, pre-stressed reinforced concrete, or wood;
- we have already operated in the seismic zones of L’Aquila (2009) and Modena (2012);
- we have completed several retrofitting/renovation interventions following the 2012 earthquake in Modena, obtaining the funds provided for post-earthquake reconstruction;
- we are constantly updated and will be able to propose the most appropriate intervention technologies.
If you would like more information, a consultation, or a quote, please feel free to contact us!!