New calculation tables for “controlled” rental Contracts

As of this year, new calculation tables have been agreed between the Florence city Council and the major Tenant’s and Owner’s Associations, with some minor adjustments regarding the applicable values per square meters and the zoning areas of Florence.

They also agreed on some more radical changes regarding the documentation and certification standards that the apartment or property needs, and the registration of the rental contract that now must be pre-screened and approved by one of the listed Associations and secondarily registered with the Agenzia delle Entrate.

As a reminder, these types of “controlled” rental contracts, called “Affitti a canone Concordato,” allow the owner to apply for a lowered income tax (so called Cedolare Secca) of 10% of the rental income, which is applied only to these types of contracts : 3 plus 2 years, Interim contracts (Transitorio up to 18 months) and student contracts (up to 36 months). All other type of contracts are subject to the normal taxation bracket of 21 % (Cedolare Secca), or the rental income can be added to your general income (IRPEF).

Here is the entire new agreement (pdf file).

A partire da quest’anno sono state modificate le tabelle per il calcolo dei canoni di locazione concordati tra le maggiori organizzazione degli Inquilini e Proprietari e che andranno utilizzate per il colcolo dei canoni di locazione per i contratti di affitto. Sono stati modificati alcuni valori di prezzi per metro quadrato a seconda delle aree in oggetto, e alcuni requisiti di certificazioni che gli immobili devono possedere per poter accedere a questa tipologia di locazione. Il cambiamento forse più invasivo riguarda la necessità di dovere avere una pre-approvazione del contratto di locazione e dei calcoli attraverso i quali si è giunti al quel canone di locazione da una delle Associazioni firmatarie dell’accordo e poi successivamente registrato presso l’Agenzia delle Entrate.

Vi ricordiamo che questa tipologia di contratti di locazione a “Canone Concordato” permette di usufruire di una tassazione agevolata del 10% (Cedolare Secca) invece della aliquota generale usata del 21% e si applica ai contratti di locazione cosidetti 3+2, Transitori (fino a 18 mesi) e per Studenti Universitari (fino a 36 mesi).

Qui l’accordo completo (file pdf)

Australians Purchase Real Estate in Italy

Regarding Australian citizens that would like to purchase a house in Italy, as far as we know and our notary has told us, the condition of reciprocity between our two countries has been satisfied so it is possible to purchase as a “person” a property in Italy, as long of course that you have a valid entry visa or Permit of Stay (Permesso di Soggiorno).

For reference the laws (and links to the pdf files) are:

-T.U. on immigration Dlgs 286\98
-Article n. 51 of law 218\95 – modifications on Italian Private International Law
-Agreement between Australia and Italy signed in Canberra on the 26\09\67
ratified in Italy with the law D.P.R 9 December 1970 n. 1430 art. n. 28
-Tuscan Notary Council – issue n. 7 – 2006

There is also a recent article on the Domain Australia web site here.

Hello we are online

Dear readers,

finally we have managed to create this Blog that was a long awaiting feature of our new web site; we hopefully be able to give you some more real time information on what is going on in Florence and Italy in general.

Here in fact we plan on posting all relative information about the Real Estate business such as buying or selling a property, owning and renting one, ranging from rules and regulations, laws and taxes, market trends or general events taking place inn this wonderful city.

We hope you will find it useful, with all our best wishes the P&F team