ABC NEWS article "Expats could face large capital gains tax bills under proposed laws"

This is a good article published online 18 October 2018 by business reporter Nassim Khadem, displaying the outcry of expats and others abroad who have been impacted by the Federal Government's removal of CGT exemption to Primary Residences for non-residents.
This of course is a triple whammy for those who also own a Queensland property as a Primary Residence (1), and are also subject to the Land tax (2) & Absentee Surcharge (3).

The severe anxiety this must be causing many Australians is obvious and is described in the article. The Federal Government is still procrastinating on this legislation as it is yet to be formally passed in Parliament, but for many, they have already had to make decisions to sell.

In the article it states,
"Shadow Treasurer Chris Bowen wrote to Scott Morrison when Mr Morrison was Treasurer saying that, while he supported the measure in principle, he was concerned about the "unintended consequences" it would have on expats, because of the retrospectivity."
- I find this hypocritical for Labor to state this when their State QLD Labor members did exactly this when they amended the Land Tax & Absentee Surcharge to tax Australian citizens, making it retrospective, plus causing severe negative unintended consequences. Chris Bowen should be having a serious talk to Palaszczuk.

Link to article is here: Expats could face large capital gains tax bills under proposed laws

To hold off selling now and hoping for any change will put many owners in a situation where they may not be able to sell their property in time before the deadline.

Also, the declining property market means that it is basically a case of selling now, because after the legislation is passed any property market upswing will be too late.

If Morrison was to back-flip on this legislation and scrap the changes, where does that leave those who have already sold up/in the process of selling?

It would be too late, having already caused financial losses, upheaval of living, retirement and working arrangements and causing others to have to invest the sales proceeds into riskier or lower income generating assets classes (for those relying on an income stream from investments).

Like the article describes, it also will have caused expats to abandon Australia, many of whom had decades of home ownership as well and had planned to return.

Personally, I am affected by both the Federal CGT exemption removal and the QLD LT&AS.