Anthony Albanese has announced the 48th parliament will begin sitting on July 22

The 48th parliament is set to sit for the first time in late July following the federal election. Here’s who will be there and what may be on the agenda.

Anthony Albanese has announced parliamant will resume in two months, 80 days after the May 3 federal election.

“I have recommended to Her Excellency the Governor-General Sam Mostyn that the opening of the 48th Parliament take place on Tuesday 22 July 2025,” he said in a statement.

The 150 MPs and 76 senators in the new parliament will take their places after the stunning election result after a five-week campaign.

Mr Albanese led Labor to its second term with an overwhelming majority of at least 93 seats in the 150-seat parliament.

Prime Minister Anthony Albanese led Labor to a massive win at the May 3 election. Picture: Jason Edwards / NewsWire

Labor will also be in a stronger position in the Senate, needing only to negotiate with the Liberals or Greens to get its legislation through.

The May 3 election also resulted in the decimation of the Liberal and Greens parties in the lower house, with both party leaders – Peter Dutton and Adam Bandt – losing their own seats

Mr Albanese has said his government was “humbled by the support of the Australian people”.

“I look forward to advancing the government’s legislative agenda over the coming parliamentary term,” he said in the statement.

Prime Minister Anthony Albanese has announced parliament will resume on July 22. Picture: NewsWire / Martin Ollman

“The reform program we took to the election was shaped by the priorities of the Australian people.

“We look forward to continuing the work of Building Australia’s Future.”

But Labor, which held a slim majority of 76 seats in the previous parliament, will be facing a significantly reduced Opposition, which may or may not be made up of a Coalition of the Liberals and Nationals and a changed cross bench.

On Tuesday, Nationals leader David Littleproud announced his party could not form a Coalition agreement with Liberal leader Sussan Ley – who assumed her position after Mr Dutton lost his seat.

However the break-up is currently on ice, as a last-ditch effort is made to reach common ground and save the 80 year relationship.

Mr Dutton will notably be absent from the 48th parliament after he lost his Brisbane seat of Dickson to Labor’s Ali France.

Ex-opposition leader Peter Dutton is out of a job after he lost his seat. Picture: Alex Ellinghausen / POOL/ via NewsWire

The Liberals also lost a number of frontbenchers and future talent, including housing spokesman Michael Sukkar, foreign affairs spokesman David Coleman and high profile renegade Tasmanian backbencher Bridget Archer.

The Liberals also took a big hit in its Queensland, with Ross Vasta in Bonner, Luke Howarth in Petrie, Bert van Manen in Forde losing and Jeremy Neal unable to win in Leichhardt.

The Greens leader Adam Bandt also lost his seat on Melbourne to Labor’s Sarah Whitty.

Ex-leader of the Greens Adam Bandt is also out of a job after losing his seat to Labor. Picture: NewsWire / Valeriu Campan

The 48th parliament will have a packed agenda as Labor seeks to fufil its election promise of cutting HECS debt.

The first bill on Labor’s agenda aims to wipe 20 per cent student loans with a one-off reduction and raising the minimum threshold for repayments by more than $10,000 a year – from about $54,000 to $67,000.

About $16bn in debt will be wiped across the student loans framework.

Perhaps more controversially, Labor’s proposed additional super tax on balances above $3m will also be on the agenda.

Federal Treasurer Jim Chalmers’ superannuation tax proposal will be a hot topic as parliament resumes in 2025. Picture: NewsWire / Martin Ollman

The government has proposed an additional tax of 15 per cent on superannuation benefits over $3m at the end of a financial year, starting from 1 July 2025.

This has been highly controversial, considering total superannuation balances include unrealised gains, meaning the tax will include movements in unrealised asset valuations during a year.

The super tax also has a carve-out, which means former state premiers, parliamentarians, politicians all elected before 2009 and a plethora of other public service officials who already benefit from more generous pension schemes that the wider public will be exempt.

The plan has already sparked wealthy retirees into selling assets, and restructuring their investment portfolios in opposition of Treasurer Jim Chalmers’ plan.

With an easier Senate to deal with, it’s likely the government will get the Bill through.

Originally published as Anthony Albanese has announced the 48th parliament will begin sitting on July 22