You are using an older browser version. Please use a supported version for the best MSN experience.

Less grandstanding, more deals: Turnbull

AAP logoAAP 15/09/2016 Paul Osborne, AAP Senior Political Writer

Malcolm Turnbull has headed off a backbench revolt over superannuation and predicted parliament would pass workplace laws which triggered the July 2 election.

However, Labor says the prime minister's "iron clad" election promises are being trashed by conservatives in his party.

Mr Turnbull is heading to New York where he will join US President Barack Obama and other world leaders at a summit on refugees and migration issues and speak at the UN General Assembly.

But before leaving for the US, and having faced a week of questions about what he had achieved in his first 12 months in office, Mr Turnbull told parliament he was positive about the country's prospects.

"As we break for the next few weeks, we should reflect on this - that with a little less grandstanding, a little less name calling and a little bit more constructive negotiation we can achieve great things for Australians and their future in this 45th parliament," he said.

Treasurer Scott Morrison earlier announced the government had dumped its planned $500,000 lifetime non-concessional cap on fund balances, backdated to 2007, responding to criticism from coalition MPs and some industry advocates.

It will be replaced by an annual cap of $100,000.

Those aged under 65 will still be able to "bring forward" three years' worth of non-concessional contributions but those with super balances of more than $1.6 million won't.

The new package will also keep a work test in place for those aged 65 to 74, saving the budget $180 million, and defers starting catch-up concessional contributions by one year until July 2018.

Mr Morrison, who has offered Labor a detailed briefing, said he saw no remaining hurdles to getting Labor's support for the changes.

The opposition welcomed the changes and promised to examine the detail of the legislation, but questioned how the backdown came about.

"We've been told repeatedly that these reforms were iron clad," opposition financial services spokeswoman Katy Gallagher told reporters.

"Today, we see the price that's been paid when you have to have the backbench writing your superannuation policy."

Negotiations continue on the government's plan to cut the corporate tax rate, fund new childcare arrangements and pass two workplace bills, as an omnibus budget cut bill was due to pass parliament with Labor support.

Mr Morrison said the tax cut was important as investors shopped around the world for the best places to put their money and the child care plan was being discussed with Senate crossbenchers.

The prime minister told the Australian Financial Review he was "quietly confident" the Senate will pass two workplace bills - restoring the building industry watchdog and toughening penalties for union misconduct.

However, if Labor wanted to block the same-sex marriage plebiscite, the issue - which Mr Turnbull said was not at the top of his agenda - could be put off for "a very long time".

The government received good news in the form of a jobless rate of 5.6 per cent.

Labor says the jobless rate fell slightly because the participation rate had fallen to its lowest level in over a year, while under-employment had hit 9.3 per cent.

The prime minister will use his US trip to not only talk up the Australian economy but point out the benefits of strong border protection policies to allow a more generous humanitarian intake.

image beaconimage beaconimage beacon