Bank levy focus for parliament

The coalition will be aiming to get its bank levy through the Senate in the coming fortnight as Labor seeks a better deal for the low-paid.

The Turnbull government will focus on delivering its bank levy when parliament resumes on Tuesday for the final sitting fortnight before the winter break.

While Labor's support for the levy means it will clear the Senate, the government is facing a last-minute fight from the banks.

Representatives from Commonwealth, Westpac, ANZ, NAB and Macquarie banks - which will be hit with the 0.015 per cent per quarter levy on their liabilities - will front a one-day Senate hearing in Canberra late next week.

The Australian Bankers' Association wants a sunset clause added to the levy, arguing big lenders will face unlimited charges unless a time frame is introduced.

The levy, announced in the federal budget, is expected to raise $6.2 billion, including $1.6 billion in the first year.

Treasurer Scott Morrison says passing the levy will mean the only entities paying more tax in Australia from July 1 will be the biggest banks and multinationals.

He's also keen for the parliament to deal swiftly with a second tranche of small business tax breaks and legislation to bring in the so-called Gonski 2.0 needs-based schools funding model.

However the Senate is awaiting an inquiry report on the schools bill which is due on Wednesday.

The lower house will debate another budget measure, a 0.5 percentage point rise in the Medicare levy from 2019.

But with Labor arguing for the levy - which will partially pay for the national disability insurance scheme - not to apply to the lowest income earners, it faces a tougher time through the Senate.

Labor is expected to deliver the government a win on changes to native title on Tuesday.

The bill is aimed at resolving legal uncertainty around more than 120 indigenous land use agreements relating to major projects, including Queensland's Carmichael mine proposed by Indian resources giant Adani.

The government will hail it as a win for jobs and investment certainty, ahead of the latest unemployment figures to be released on Thursday.

Labor is expected to continue its attack on the government over cuts to penalty rates for low-paid workers which come into effect on July 1, just as high-income earners and businesses get a tax cut.

Crossbench senator Nick Xenophon will be seeking an inquiry into claims that many employees working for large companies receive lower weekend and holiday penalty rates under their enterprise agreements than those under modern awards.

Power prices, climate policy and national security will be hot topics for question time.

Senate inquiry reports are due over the sitting fortnight into meat processing, Australian veterans, aged care, the Bell Group litigation, the insurance industry, management of social welfare and seafood imports.


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Source: AAP


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