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For all, a tightening on cash payments, for 16 million workers some extra money in the pay packet, for those who can two anti-Covid bonuses, the one for building renovations and the one for the holidays. These are the news arriving from July 1st.
CLOSE TO CASH. The tax decree linked to the budget law introduces a new limit on the use of banknotes in payments, with the threshold going from 3,000 to 2,000 euros. The aim is to fight tax evasion by promoting electronic payments. From Wednesday therefore – except for some special cases – it will be mandatory to use traceable systems (cards, bank transfers, etc.) for expenses in excess of 1,999 euros, whether they are between private individuals or between private individuals and merchants. Penalties on arrival – fine from 3,000 to 50,000 euros for a single transaction – for those who do not respect the norm.
CUT TAXES AT WORK. The latest budget law introduces the cutting of the tax wedge. For employees with income from 8,174 to 26,600 (ex Renzi bonus) the bonus from 80 euros to 100 (20 euros more); for workers with income of 26,600 and 28,000 euros, an increase in the pay packet of 100 euros is expected; for those between 28,000 and 40,000 euros in income the wedge cut is configured as a decreasing deduction until exhaustion. The discount will be made directly by the employer, who plays the role of substitute tax.
BUILDING BONUS – The eco-bonus and the 110% bonus quake come into force: a maxi tax credit introduced in the Relaunch Decree. The bonus allows interventions with an improvement of the energy class and reduction of seismic risk with return of the investment through the mechanism of the discount on the invoice and the assignment of credit. Second homes are currently excluded, but an amendment in Parliament could include them.
HOLIDAY BONUS. In the anti-Covid decrees, the holiday bonus of up to 500 euros was provided. Households with Isee will be able to obtain it up to € 40,000 and is valid from the moment of presentation and until 31 December following. The bonus amount is modulated according to the size of the family unit: 500 euros for those made up of three or more people; 300 euros for two people and 150 euros for one person.
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