WASHINGTON — The Trump administration on Wednesday proposed new regulations aimed at making it easier for investors to take advantage of tax breaks for investing in “Opportunity Zones” in low-income areas. The new Opportunity Zones were set up to enable private investors to re-invest profits into designated areas. The investor can get a tax benefit by deferring their capital gains taxes invested in the zones until 2026. They also get a discount of up to 15% on the capital gains profits invested in the zones and pay no capital gains taxes on investments in the zones held for at least 10 years. Governors were allowed to choose up to a quarter of their states’ low-income census tracts as Opportunity Zones.

Source: National Post April 17, 2019 21:11 UTC