The tax deductions for burglar alarms
have also been extended for 2019. The security package, of the 2016 Stability Law,
had introduced them to promote the security of citizens who decided to carry
out interventions to defend themselves against thieves and threats of theft,
aggression, acts of vandalism...
If you have always postponed the
installation of a security system for fear of costs, you can take advantage of
this opportunity.
2019 Security Bonus Specifications
The tax deduction can be requested and
an Personal Income Tax reimbursement of 50% of the sustained expense can be obtained,
up to a maximum of 96,000 Dollars.
The tax deduction for anti- theft
devices can be requested for works performed by 31 December 2019 , but is not
limited to burglar alarm systems in Chicago only. It
also applies if opening detectors, video surveillance systems, erasers;
gratings have been installed ... Whatever work you do, remember that the
benefits of this repayment will be seen in the following year's tax return
(2020)
To see your tax deduction application
accepted, it is important to pay installers via wire, bank or post. The
fundamental thing is that they are "talking”. Of course online transfers
are also Fine.
What Is The Talking Transfer?
To help you better manage this
bureaucratic aspect, we would like to stress that the talking transfer is
different from the ordinary one. It is good to compile it in the right way
because even a small inattention risks compromising the request, and obtaining,
of the tax deduction.
To avoid having your request
dismissed by the Revenue Agency office, you must specify a series of
information that we are going to list:
in the purpose of the bank transfer
it specifies that the payment is made pursuant to and for the purposes of
Article 16 of Presidential Decree 917/1986 (in the bank you will usually find
pre-printed forms that can help you);
Indicates the details of the invoice
you are paying and specifies the data of the recipient company and its tax
code;
Specifies the name and tax
identification number of the person making the payment and to whom the invoices
are registered.
In any case, remember to keep all
documents relating to the work performed, such as invoices and bank transfer
receipts. The payment must be made no later than 31 December 2019 and, during
the tax return made in 2020, you must attach all the documents relating to the installation
of the alarm system. The deduction will be divided into 10 annual
quotas.
Installations That Benefit From Tax Deductions
Thefts and break-ins are constantly
increasing, but the positive note of the anti-theft bonus can give space to
that idea that you kept postponing. The important thing is that the jobs are
performed by certified professionals, like our Get stealth technicians. Not
only for bureaucratic purposes but also, and above all, because when it comes
to safety it is good not to skimp.
If you have the doubt that it is a
benefit only for people who are building their own home or are renovating it,
don't worry: it is not necessary for the installation
of the alarm system to take place together with the building renovation of
a motionless. It is possible to install an alarm system also without the
opening of municipal practices. The fundamental thing is that the professionals
work on a project of installation of systems useful to prevent the risk of
theft and illicit, as for example:
·
Site
inspections for the installation of an alarm system (Get stealth offers this service for free!)
·
design
for the burglar alarm system
·
fire
detection systems ;
·
burglar
alarms with control unit and detectors;
·
thermal
cameras ;
·
fog
systems
Vat is Advantageous for Part of Your Expenses
So far, although these are important
expenses, we have given you good news. Fortunately, there is still one that
will definitely convince you to think of a home
alarm systems in Chicago. In addition to tax deductions, you will be
able to see 10% reduced VAT applied on almost all costs incurred for the
installation of your alarm system. A little help for those who, like you, are
intent on securing their families and homes. As mentioned in the guide “Building
restructuring - Tax benefits ", prepared by the Revenue Agency,” 10%
reduced VAT cannot be applied to:
·
Materials
or goods supplied by a person other than the one performing the work;
·
Materials
or goods purchased directly by the customer;
·
Professional
services, even if carried out as part of interventions aimed at building
recovery;
·
Services
rendered in the performance of subcontracts to the company carrying out the
works. "
Who Is Entitled To The 2019 Alarm Bonus?
To be entitled to anti-theft
deductions, you must be a private individual subjected to PIT (Personal Income
Tax). The bonus is not only for the owners of the buildings but also for those
who bear the costs despite being a lessee, usufructuary or borrower. We hope
you have been useful with this post that summarizes the 2019 news regarding the
2019 tax deductions. As always, we are at your disposal to guide you in finding
the most suitable alarm system for you and your family's needs. Contact us for a chat and
to organize a free inspection.