Dutton's defeat in his Brisbane seat of Dickson to Labor's Ali France marks a notable absence in the 48th parliament.

The Coalition agreement between the Nationals and Liberals is currently in flux, as Nationals leader David Littleproud faces challenges in forming a coalition following Sussan Ley's ascension.

With a stronger position in the Senate, the Labor government will only need to negotiate with the Liberals or Greens to pass its legislative agenda.

One of Labor's key legislative priorities includes a substantial reform to student loans, proposing a 20% reduction in HECS debt and raising the repayment threshold from $54,000 to $67,000.

This student debt plan is expected to eliminate approximately $16 billion from the existing student loans framework.

Additionally, the government has proposed a controversial 15% super tax on balances exceeding $3 million, which has raised concerns regarding its impact on unrealised gains and exemptions for certain public officials.

In response to Treasurer Jim Chalmers' initiatives, wealthy retirees are adjusting their investment strategies due to the implications of the new super tax.

Parliament is scheduled to resume on July 22, 2025, following an 80-day recess after the May 3 federal election, as announced by Prime Minister Anthony Albanese.

In a significant political shift, Albanese's Labor party achieved a decisive victory in the recent federal election, securing a majority of at least 93 seats in the 150-seat House of Representatives.

This election saw substantial losses for the Liberal and Greens parties, with both leaders, Peter Dutton and Adam Bandt, losing their respective seats.