The Christmas Bonus
- Oct. 17, 2024
- Reading time: 3 min
News Flash No. 32/2024
The “Christmas Bonus” allowance, provided for by “Omnibus” Decree-Law No. 113/2024 on “Urgent Tax Measures, Extensions of Regulatory Deadlines, and Economic Measures,” consists of a benefit one-time for employees who meet certain income and family criteria. The Italian Revenue Agency has published, in News No. 19/E, the initial guidelines on how to claim it.
The requirements are summarized as follows:
1) You must be an employee, whether in the public or private sector; for example, the Bonus is not available to those who receive income treated as employment income under Article 50 of the Consolidated Income Tax Law (T.u.i.r.);
2) You must have earned income from employment in 2024, regardless of the type of contract (permanent, fixed-term, part-time, full-time);
3) The employee’s total income for 2024 must not exceed 28,000.00 euros (net of the income from the real estate unit used as the primary residence and that from its appurtenances). In this regard, the so-called reference income is taken into account (i.e., the total income used to determine tax benefits—including the bonus in question—while also accounting for income subject to the flat-rate tax, income subject to substitute tax under the flat-rate regime for those engaged in business, arts, or professional activities, the ACE tax relief portion, and amounts given to private-sector workers employed in lodging facilities and food and beverage establishments as gratuities (so-called “tips”), which are subject to substitute tax.
Would you like to learn more?
Sign up at studiopiceci.it to continue reading these exclusive posts.