Deducting premium and donating property: What to do to avoid making mistakes in 730

Deducting premium and donating property: What to do to avoid making mistakes in 730

The opportunity to get a discount on the property insurance premium is attractive. However, one must not make the mistake of compiling the 730.

In Italy it is possible to access various tax deductions depending on the expenses incurred. In terms of property insurance premiums, it’s a good idea to remember all the rules, because one mistake can hurt your reward perception.

You can get a 19% discount on home insurance premium account – ANSA – ilovetrading.it

tax cuts Excellent tools for the state to ensure monetary rewards for citizens. Instead of sending money directly, the state allows people to deduct additional money from their tax payments. These deductions are mostly related to expenses incurred by citizens, particularly those that are necessary, such as medical expenses, or for the public interest, such as home renovation or property insurance. The latter in particular provides for one 19% tax deduction on premium account paid. Useful savings in times of economic crisis.

Recent events in Emilia-Romagna have reminded us how important a person is Natural disaster insurance policy It can affect your home. To entice citizens to take advantage of this service, the state has put a tax deduction on these expenses and to allow savings. Like all other tax deductions, this can be obtained by indicating the expenses spent on the tax return that will be filed each year with the Revenue Agency. Indicating expenses in the appropriate section of the Model 730 Deduction It will be applied automatically by the Revenue Agency Pay IRPEF taxes.

Who can access IRPEF deductions on the insurance premium?

The discount is worth a share equal to 19% of the expenses incurred for the insurance premiums of the policy and can be obtained from Anyone filing a tax return, be it with the pre-assembled 730 model or in some other form. The only quota set is the maximum income for those who can get the full deduction, In the amount of 120,000 euros. Beyond this limit, those who submit the return receive a proportionately lower discount as the applicant’s income rises up to 0 for those with incomes of €240,000 or more.

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To obtain discounts on expenses, it is important to carefully fill out Form 730 – ANSA – ilovetrading.it

Also please note that the discount is It’s about expenses, not about goodness that was incurred for that, so even if you incurred the expense of someone else’s home insurance policy, You can still get the discount. An example is given of a person who pays a home insurance premium that is given at some point to a child. However, the expenses are deductible.

Recommendations not to miss the opportunity

The deduction from your insurance policy is automatic when you file your tax return, but there are a few things to remember. First of all, the expense must be reported in the correct amount in the appropriate section and this must be remembered Expenses must be fully trackable.

So the premium must have been paid with a digital payment method, by payment card, check, bank transfer or any other method other than cash payment. Otherwise, you are not entitled to the deduction.

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