The Italian Government has adopted the Decree n. 113/2024 (entered into force on August 10th, 2024), increasing the HNWIs’ annual flat tax from Eur 100.000 to Eur 200.000. The Decree includes a grandfathering clause under which the above increase will be applicable only to those that move their habitual residency to Italy after the Decree enters into force; for those who already joined this tax regime, nothing shall change. Furthermore the Law doesn’t modify any of the other features of the previous regulation, as thequalifying family members are still able to join due to the annual payment of a €25,000 flat tax per person.
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Based on the provisions of the 2024 Budget Law, in the case of properties other than the main residence and not acquired by inheritance - and on which 110% Superbonusinterventions have been carried out - the capital gain tax (deriving from their sale) will apply for 10 years. [...]
Good news for overseas property buyers Expanding of your Budget and power of purchase Securing of a non-resident Italian mortgage to purchasing a property has always been considered in the past kind of complicated, if not virtually impossible. The current historical situation might instead lead to a different scenario, [...]
CANADA: Government announces two-year extension to ban on foreign ownership of Canadian housing. As consequence, the Condition of Reciprocity between Italy and Canada will remain suspended for more 2 years, until January 1st, 2027.
Many relevant news have been introduced on short-term rentals - Sanctions for those who do not respect the new rules. The "Decreto Anticipi" (Decree 18/10/2023, n. 145, converted into Law 15/12/2023 n. 191), introduces important news in the short-term rental sector, which will have important effects for tenants/consumers and [...]
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