SHARE
COPY LINK
For members

FINANCE

How and why the Italian government will give you €100 towards buying a new TV

From August 23rd, everyone living in Italy can apply for a discount on the cost of buying a new television. Here’s what the new scheme is all about.

With dozens of tax ‘bonuses’ and rebates already available when purchasing anything from an electric car to a first home in Italy, the Italian government in July confirmed a new discount of 20% off the price of buying a new TV, up to a maximum of 100 euros.

The government has now confirmed that applications for the bonus will be open from August 23rd. newspaper Il Sole 24 Ore reports.

EXPLAINED: How to pay or cancel your Italian TV licence fee

The measure is intended to help with the costs of replacing older sets when Italy switches its signal to DVB-T2 in June 2022.

Italian Minister for Economic Development Giancarlo Giorgetti has signed off on the launch off the new “TV scrapping bonus”, saying the discount will be available to all households regardless of income, while a previous TV bonus for lower-income households also remains in place.

Households with an ISEE of €20,000 or less are already eligible for up to €50 off the price of a new-generation TV or decoder, in the form of a discount applied directly at the cash register.

The Italian ISEE number is the measure used to indicate how relatively well off your household is, taking into account income, assets, debts, and other factors. It’s quite complex to calculate but you can ask your commercialista (accountant) to do this for you.

READ ALSO: From DAD to DOP, the most common Italian acronyms explained

Photo: Rafael Arkenau/Unsplash

The new 100-euro ‘TV scrapping bonus’ announced on Wednesday is instead open to everyone in Italy, regardless of income level.

Lower-income households can claim both bonuses.

In both cases, you’ll need to trade in an older TV purchased before December 2018 in order to benefit.

You can do this by giving your old TV to the store when buying the new set. (You’ll need to ask first if the business is taking part in the scheme).

You can also take it to an authorized recycling centre yourself, as long as you obtain a document certifying that you’ve done so.

As well as scrapping the old TV set, the other two requirements for claiming the discount are that you’re a resident in Italy, and that you can prove you pay Italy’s canone (TV licencing fee) or are exempt.

For more information, see the Italian Economic Development Ministry’s website.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

MONEY

How much does it cost to raise a child in Italy?

How big is the financial commitment parents have to make in Italy to pay for their offspring’s needs and expenses until they’re grown up and independent? Here's a look at the predicted costs.

How much does it cost to raise a child in Italy?

Family is the bedrock of Italian society, but it’s also an unbalanced economic crutch, propping up children who leave home much later than most of their European counterparts.

Various factors are at play, from a declining birth rate, youth unemployment, being unable to get on the property ladder to young Italians moving abroad in search of better financial opportunities.

It probably comes as little shock, then, that parents in Italy end up forking out huge sums of cash to support their offspring through childhood and early adulthood (and beyond).

Even just up to the age of 18, raising a child in Italy can cost upwards of €320,000, according to data from Italian consumer research body ONF (Osservatorio Nazionale Federconsumatori).

The average spend of raising a child from 0-18 years is €175,642, but it rises in families with high incomes, classed as over €70,000 per year.

READ ALSO: Italian class sizes set to shrink as population falls further

Researchers noted that the cost of bringing up children has jumped up following the effects of the pandemic too: compared to 2018, child-rearing expenses increased by 1.2 percent by 2020.

The decrease in expenditure related to transport due to spending more time at home, as well as those incurred for sports and leisure activities, was not enough to mitigate the increase in costs for housing and utilities, which increased by 12 percent compared to 2018.

Photo by Suzanne Emily O’Connor on Unsplash

Food prices rose by 8 percent compared to 2018 and education and care jumped by 6 percent for the same timeframe.

In fact, Italy ranks as the third most expensive country in the world for raising children, only coming behind South Korea and China, according to data from investment bank JEF.

The pandemic has contributed to extending an already growing phenomenon: the decrease in annual income of Italian households.

Household income dropped by 2.8 percent from 2019 to 2020, the report found, citing data from national statistics agency Istat. It marks a further squeeze for families, especially low-income and single-parent families.

Depending on earnings, the amount needed to bring up a child until the age of 18 varies considerably.

READ ALSO: ‘Kids are adored here’: What being a parent in Italy is really like

A two-parent family with an annual income of €22,500 spends an average of €118,234.15 to bring up a child until the age of 18; for the same type of family but with an average income of €34,000 per year, the total expenditure to bring up a child increases to €175,642.72.

For high-income families, stated as over €70,000 annually, raising a child costs €321,617.36 on average.

The figures mark an increase of around €5,000 for low- and middle-income families, and a much sharper rise of €50,000 for high-income families, compared to ten years ago.

The money gets spent on housing, food, clothing, health, education and ‘other’ categories. The report revealed that the average spend on a child aged 16 years old is almost €11,500 annually, amounting to €955.78 per month.

Almost €2,000 per year gets spent on food, €1,615 goes on transport and communication, €782 goes on clothing and €1,600 goes on education annually, the report found.

They begin small, yet the costs are anything but. (Photo by LOIC VENANCE / AFP)

For the ONF, “these data highlight how, today more than ever, having a child is becoming a luxury reserved for the few, which fewer and fewer Italians are able to afford.”

READ ALSO:

The numbers on supporting children after their 18th birthday are a little hazier, as when children eventually fly the nest varies – but figures from Eurostat show that Italy ranks third in Europe for the average oldest age at which children move out of the parental home, at 30.2 years old.

Only young people from Croatia and Slovakia wait longer to live independently, while the EU average for flying the nest is 26.4 years old.

Even then after eventually leaving home at over 30 years old, it’s not entirely clear how many Italians are fully independent once they get their own address, or whether their parents continue to bankroll their living costs.

Italy’s president Sergio Mattarella sent a message to Italy’s Birth Foundation (Fondazione per la Natalità) in May stating, “The demographic structure of the country suffers from serious imbalances that significantly affect the development of our society.”

In response to worsening economic circumstances, the Italian government has recently pledged to do more to help people have families and reverse Italy’s continuing declining birth rate.

It has introduced the Single Universal Allowance (L’assegno unico e universale), but along with it has dropped various so-called ‘baby bonuses’ that provided lump sums to new parents.

The new allowance is a monthly means-tested benefit for those who have children, or are about to have a child. It is payable from the seventh month of pregnancy until the child reaches the age of 18 or in some cases, 21. For more information on what it is and how to claim it, see here.

SHOW COMMENTS