110% Superbonus and Capital Gains: The New Tax Regulations.

The Budget Law 2024 introduced major changes for the taxation of capital gains from the sale of properties that took advantage of the 110% Superbonus.

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According to the new regulations, gains obtained from the sale of a property on which work subsidized by the Superbonus was carried out must be taxed if this work was completed within the last 10 years. A recent Internal Revenue Service circular further clarified the application of these rules by extending the taxability of capital gains to apartments located in condominiums that have benefited from the Superbonus.

Inherited properties and properties that have been the principal residence of the seller or his or her family for most of the last ten years, or for the entire period between purchase and sale if less than ten years, are exempt from this taxation.

The law specifies that you only have to pay a capital gains tax when you first sell a property that has benefited from the Superbonus, and that is only if the work was completed in the ten years prior to the sale. This rule does not apply to subsequent sales of the same property unless there have been intermediate steps, as indicated by Article 37 of Presidential Decree No. 600 of September 29, 1973.

Basically, the capital gains tax applies only to the first sale of properties that received the Superbonus, no matter who did the work, how much was saved by the deductions, how these benefits were used, or what kind of work was done.

The rule makes explicit the different ways of calculating capital gain in detail, but complex to summarize here. For any further discussion, we refer to the circular in question, which can be found in this annex.