Morrison Government to become a minority after Wentworth byelection seat won by Independent Kerryn Phelps

For those considering selling their property/ies due in part to the Liberal Party's removal of Primary Residence CGT exemption for Non-Residents:

Yesterday, 20 October 2018, the seat of Wentworth NSW fell to Kerryn Phelps - Independent, meaning now the Australian Liberal Party has become a minority government. Therefore any legislation that has not yet passed will be very challenging.

I am now uncertain as to what will happen to the removal of the Primary Residence Capital Gains Tax exemption for Non-Residents.
It may well be that the legislation will only be passed - whether in full or an amended version, until after the next election.

But as explained in previous post - for many of us we cannot hold off waiting for a decision to be made when the deadline to sell is by end of June 2019.

It seems for those who do not want to take the risk and wait, now is the time to sell pre-Christmas, with the market clearance rates dropping off after New Year. The clearance rates as they currently stand are already more challenging.

Plus the prediction of further house price corrections means holding off may mean further losses if you hold and wait too long for a decision and realise you still need to sell.

But a back-flip on the proposed legislation would mean many expats/non-residents/future non-residents would more likely not sell, ride the housing correction cycle and keep their property long term.

The problem with this legislation all along was that it was retrospective, whereas it should have protected those who had already bought properties prior to the budget. Now they have caused a whole series of problems, a lot of stress and uncertainty.

Those owning a Primary Residence in QLD of course are affected threefold with the additional corporate rate Land Tax and Absentee Surcharge to deal with.  With the increasing prospect now of the Australian Labor Party (ALP) winning the next election (which will more likely be held sooner now), Bill Shorten may attack property portfolios further with his proposal to remove negative gearing on investment properties as well as halving the 50% Capital Gains Tax Discount.  If you are a non-resident, QLD absentee and mortgage holder then you may be in for very financially challenging times ahead.

Sydney Morning Herald Article outlining repercussions of Morrison government now succumbing to being a minority:
wentworth-hiding-puts-morrison-government-on-course-for-general-election-catastrophe