As federal MPs return to Canberra for parliament's final sitting fortnight of the year, both parties already have one eye on a likely May election.
The Albanese government wants to secure support for housing, electoral donations and education reforms, while Opposition Leader Peter Dutton is focusing on voters "struggling in the suburbs".
An election earlier than May appears to be off the agenda after Prime Minister Anthony Albanese and Treasurer Jim Chalmers indicated parliament would return in the new year.
The election is likely to be fought on cost-of-living issues. (Lukas Coch/AAP PHOTOS)
Mr Albanese on Sunday and Dr Chalmers on Monday reaffirmed the government's intention to deliver a budget in March.
The treasurer unveiled a plan to force businesses to accept cash for payment of groceries, fuels, medicines and other essentials.Â
An exemption will apply to small businesses when the mandate is introduced in 2026.
Mr Dutton labelled the move a distraction, predicting the election would be fought on cost-of-living issues.
"The prime minister has made a deliberate decision to go with the elites, and he's left behind people who are struggling in the suburbs," he told Sky News.
"People are really shaking their heads realising that it's tough now after just two and a half years, and how much worse it would be if they had to suffer three more years of the Albanese government."
Peter Dutton says people struggling in the suburbs have been left behind. (Darren England/AAP PHOTOS)
Dr Chalmers insisted the government was working to alleviate cost-of-living pressures without increasing inflation.
"From budget to budget, we try and do the best we can for people, recognising the pretty substantial fiscal constraints that we have," he told reporters In Canberra.
"People shouldn't assume some kind of spend-a-thon in the mid-year budget update, that's very clear, nor should they expect that, frankly, in the budget in March."
Opposition finance spokeswoman Jane Hume urged the government to reduce public sector spending so that more cost-of-living relief could be delivered.
"We're calling for a national cabinet to come together and work out how public sector spending can be appropriately addressed at not just federal level, but state levels as well," she told AAP.
"What we want to see is leadership from the government, calling together the state premiers to discuss how their decisions, their policies are actually pushing inflation up, rather than putting pressure downward pressure on inflation."
Four retiring MPs, including coalition backbenchers Nola Marino, Mark Coulton, and Rowan Ramsey, are giving farewell speeches to parliament on Monday.
First-term Labor MP Michelle Ananda-Rajah will also deliver a valedictory, after the Australian Electoral Commission abolished her Melbourne seat of Higgins