Scott Morrison will urgently recall Parliament to secure the passage of promised $1,080 tax cuts from July 1 after the Liberals “miracle” victory.
The windfall for all workers earning under $130,000 should be delivered when workers file their tax return – but only if the Liberal Party can secure the support of the Senate before the end of June.
The Tax Office has already warned the legislation must be passed before it will provide the tax refunds that double the existing low and middle income tax offset.
“Obviously that is our priority piece of legislation, to provide the tax cuts for more than 13 million Australians. And we will see up to $1080 into the pockets of Australians earning up to $126,000 in just a matter of weeks,” Mr Frydenberg said.
“So if you are a couple each earning $60,000, a teacher and a trader, you will be $2160 better off as a result of the tax relief provided by the Morrison government. So let’s get this legislation passed so that the Australian people get their tax cuts.”
The Prime Minister also plans to test the ALP’s resolve on national security with new laws to exclude Australians suspected terrorism offences from returning to Australia for up to two years.
Mr Morrison has previously flagged he also plans to reverse legislation allowing for the medical transfer of asylum seekers from Manus and Nauru – if two doctors agree – overturning laws passed by Labor and the independents late last year.
As counting continued on Sunday, the Coalition was still confident of securing a majority – it needs 77 votes to provide a Speaker.
But even if the Liberals fall short, there are enough conservative independents to ensure that the Prime Minister will be able to govern.
Speaking outside the Horizon Church in Sutherland with his wife Jenny, the Prime Minister said he was grateful for the shock victory.
“I just wanted to say very quickly thanks again to all Australians all around the country but I particularly want to thank here in my local community in southern Sydney all the great people in Sutherland Shire,” he said.
“I give thanks to live in the greatest country in all the world.”
The Labor Party now faces the prospect of a return to Parliament with an interim leader because a leadership contest – unless Anthony Albanese emerges as a consensus candidate.
Labor sources believe that opposition treasury spokesman Chris Bowen and Tanya Plibersek are so damaged by the result that they may stand aside allowing Mr Albanese to secure the leadership without contesting a ballot.
Labor leader Bill Shorten said there was a simply explanation for his failure to win the election on Sunday.
“We didn’t get enough votes,” Mr Shorten said.
“This interview is not one for doing a whole post-match analysis and I gave some of my analysis last night. I will convene the National Executive of the Labor Party tomorrow.”
“As the caretaker leader I will start the ball rolling so that in a matter of weeks, the members of the party can pick a new leader to take us into the next exciting time in the Parliament ahead.”
Labor’s national president Wayne Swan said now was not the time for a blame game.
“The result is deeply disappointing and our Party has a responsibility to analyse the result and to respond maturely. Attributing blame or fault to any particular individual or policy is not the way ahead,” he said.
“Nobody could have worked harder than Bill Shorten.