The three independent MPs in the House of Representatives have struck a deal with both the Labor Party and Coalition on parliamentary reform.
Rob Oakeshott, Tony Windsor and Bob Katter were locked in talks with the Coalition, after Labor endorsed the parliamentary reforms over the weekend.
Mr Oakeshott held a media conference in Canberra outlining the changes.
The reforms deal specifically with Question Time and the appointment of the Speaker of the House.
According to the deal, Question Time will be shorter and more factual. The Speaker will be apolitical and excluded from party room talks.
Mr Oakeshott also highlighted a change in the way the parliamentary committee system works.
"We've done some good work... hopefully the good will will last," the MP says.
"This is a good day for addressing accountability," Labor's Anthony Albanese says.
"As a result [of these reforms] parliament will be a better place," Mr Albanese says.
The senior Labor figure says the reforms show the goodwill and sense of consensus present in the Labor Party.
Coalition MP Christopher Pyne echoed Mr Albanese's comments, saying the Coalition was looking forward to the reforms.
"Tony Abbott and I have always wanted to have an independent Speaker," Mr Pyne says.
"We should have always had time limits on Question Time," the Coalition MP says.
Mr Pyne says the reforms will give Private Members Bills - or legislation proposed by MPs who are not in the ruling party - the recognition they deserve.
"This is a very important moment in the life of our parliament," Independent MP Tony Windsor says.
"All local members should be treated with a degree of respect... this is a great moment, in my point of view," Mr Windsor says.
