The Finance and Expenditure Committee has recommended several improvements to simplify the rules. Significantly, they've recommended a delayed application date of 1 July 2021. We agree that more time is needed to allow businesses and their advisers to prepare for the new rules. The committee also recommended repealing the $100,000 threshold and a significant increase in the threshold that applies to residential property transactions. We agree that for simplicity and so as to remove unnecessary compliance costs, these recommendations are improvements, applying as they do where the scope for tax minimisation is low. 