Dozens of new laws are on the horizon as a result of a late-night push by the government to get through a long to-do list in a single night. Several key policies made it through, such as tax incentives for developers to build apartment complexes with affordable rentals, a ban on children under 16 from using social media, and enhanced protections for victims of sexual violence in court proceedings. On the other hand, some significant policies like election donations, a gambling ad ban, and the establishment of a national environmental protection agency were left out in the rush.
One of the major changes includes the implementation of new tax incentives for developers building apartment complexes that have affordable rental options, with the aim of creating 80,000 new rental homes. Additionally, there are plans for supermarkets to adhere to a mandatory code of conduct to ensure fair treatment of farmers and suppliers, or face hefty fines if breached. The government also secured a provision to overrule the Reserve Bank's decisions and restructured the RBA board into separate entities for monetary policy and governance, aiming for a balanced consideration of inflation and employment in interest rate decisions.
Furthermore, the government is moving forward with laws to support its signature policies, such as setting up a framework for investments in renewable projects and providing tax credits for hydrogen production and critical minerals. Additionally, efforts are being made to address the issue of migrants released from immigration detention following a court ruling, by enabling their return to detention or relocation to another country. Various sectors like the airline industry, payment systems, higher education, and business mergers are also set to see new regulations and processes in place to ensure fair competition and compliance with updated standards.