Superbonus 2024: the deduction extends to 10 years


Emma Potter

With the latest announcement by the Minister of Economy and Finance, Giancarlo Giorgetti, something new has emerged: themandatory extension of the Superbonus deduction period from 4 to 10 years.

This change, which will be applied from 1 January 2024, has sparked a lively debate among developers, banks and citizens, raising questions about the practical implications and retroactivity of the measure.

But what exactly are the consequences of this extension? And how will it affect the financial planning of those involved?

Details of the legislation

The government's decision to spread the Superbonus tax deductions over 10 years instead of 4 represents a substantial change for many. In practice, from 2024, the beneficiaries will have to expect a longer delay in time of the tax advantages provided for energy and seismic requalification works.

This change applies exclusively to expenses incurred starting from January 1, 2024, with the aim of facilitating a more manageable distribution of the tax benefit and, at the same time, adapting the State's cash flow to budgetary needs.

The new regime does not offer the previously discussed flexibility of choosing between the old four-year system and the new ten-year system, establishing a single method of use. This has direct implications for private clients, who will see the amounts deducted reduced annually, and for businesses, who will have to recalibrate their expected cash flow models for tax credits acquired through invoice discounts.

The National Association of Building Contractors (Ance) and the Italian Banking Association (Abi) have expressed clear concerns, underlining how certainty and trust are fundamental in an already complex period for the economy. They fear that retroactive changes could undermine the confidence of families, businesses and investors, potentially destabilizing the construction sector, already vulnerable to economic and political fluctuations.

Minister Giorgetti, however, assured that there will be no retroactive changeslimiting the new rules only to expenses incurred starting from 2024.

This should limit the impact of the rule on ongoing projects and offer some peace of mind to operators in the sector. Despite this, the declaration did not completely allay anxieties, as demonstrated by the words of the president of the ANCE, Federica Brancaccio, and the FI deputy Erica Mazzetti, who both called for greater caution in the introduction of rules that could lead to profiling of unconstitutionality.

Future implications and final considerations

With the introduction of the Superbonus extended to 10 years, not only will the methods of using the deductions change, but also the overall approach to renovations and improvement interventions. Private clients and businesses will need to carefully evaluate their long-term spending and financing plans, adapting strategies to maximize the effectiveness of the deferred tax benefit.

This extension could also influence decisions to begin new works, with potential delays in the implementation of projects pending more definitive regulatory clarification.

At the same time, the government announced further measures to encourage checks by Municipalities on irregularities linked to the Superbonus, assigning them a 50% share of the largest sums collected both in state taxes and in civil penalties.

This could lead to an increase in checks and, consequently, greater transparency and correctness in the application of the Superbonus.