National needs about $5 Billion in foreign property sales a year to reach its target. Prior to the 2018 ban, China (which likely can’t be taxed anyway due to FTA) made up 40% of an approximately $3.75 Billion in total sales. For Nationals numbers to work, the market would have to grown significantly, while leaving the vast majority of properties un-taxed. Further, they have not accounted for any drop in sales due to the tax, global downturn, or any other factors.

It’s pure fiction and smoke and mirrors.