When applying for certain financial aids or scholarships in Italy, families are required to submit the ISEE document, which assesses their economic situation. However, understanding what income should be included in the calculation can be a bit confusing. In this comprehensive guide, we will walk you through the process of determining what income to include in your ISEE.

1. What is ISEE?

The ISEE, abbreviated from “Indicatore della Situazione Economica Equivalente,” is an important document used in Italy to evaluate the financial capacity and eligibility of families for certain benefits, subsidies, and scholarships.

2. Why is it important to include the correct income?

Accurately calculating your income is crucial as it directly affects the outcome of your ISEE. Incorrectly including or excluding certain sources of income could potentially lead to a higher or lower assessment of your economic situation, which might affect your eligibility for financial aid or scholarships.

3. What income should be included?

When preparing your ISEE, it is essential to consider the following sources of income:

  • Wages and salaries: Include the gross income from your employment, before any deductions.
  • Self-employment income: This includes profits from freelance work, professional services, or any business activities.
  • Benefits and allowances: Add any income received from pensions, disability benefits, unemployment benefits, social security, or family benefits.
  • Rental income: Include any earnings from properties or real estate that you own.
  • Investments and savings: This includes income generated from bank interests, dividends, or capital gains.
  • Other income: Include any additional sources of income, such as alimony payments or regular financial support.

4. What income should NOT be included?

While it’s crucial to include most sources of income, certain types should not be included in your ISEE calculation:

  • Income from scholarships and grants: These are considered as financial aids and should not be included.
  • Property and assets: The value of your property, real estate, or any assets you own should not be included.
  • Loans and credits: Any money borrowed, including student loans or personal loans, should not be included.
  • Reimbursed expenses: Do not include any money received for reimbursed expenses, such as travel costs or medical reimbursements.
  • Gifts and inheritance: Money received as gifts or through inheritance should not be included.

5. How is the income calculated?

The ISEE calculation takes various factors into account to determine your economic situation. It considers the number of household members, the presence of any dependents, and the total income reported by the family. The higher the income and the larger the family, the higher the ISEE will be.

To ensure accurate calculations, it is advisable to carefully compile all the necessary documentation to support your declared income. Keep in mind that authorities may conduct checks and request additional information.

Understanding what income to include in your ISEE is essential for accurately assessing your economic situation and ensuring your eligibility for financial aids or scholarships. By following this comprehensive guide, you can confidently prepare your ISEE document and maximize your chances of receiving the support you need.

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