Labor's centrepiece industrial relations laws have passed the parliament, after many hours of late-night debate.
It's a political win for the government, which wanted the bill passed before the end of the year.
And it's a fairly substantial set of changes that the government insists will see more money in the pockets of many Australians.
As it was given a final sign-off by the House of Representatives on Friday morning, Prime Minister Anthony Albanese said the reforms were a "victory" for workers and businesses, because it would improve pay and productivity.
"Today is a win for the heroes of the pandemic, the cleaners, the disability workers, the aged care workers, the early childhood educators," Mr Albanese said.
"They got our thanks but they deserve more than that, they deserve better conditions and they deserve better pay."
Opposition Leader Peter Dutton, meanwhile, deemed it a "very significant return on the down payment the union movement has made to the Labor Party".
"Every business group in the country is opposed to this bill," Mr Dutton said.
There's a lot to it, and for all the heat and noise it's generated, a heap of it is actually pretty non-controversial.
Here's a quick breakdown of the key changes.
Multi-employer bargaining
This is the most controversial aspect of the bill, and has had union and business leaders at loggerheads for the past few months.
The laws will basically make it much, much easier for unions to negotiate pay deals that cover multiple similar businesses.
The most common examples are sectors like child care and aged care, where there are many employers with lots of employees doing similar work.
Not all businesses can be included in multi-employer pay deals.
Small businesses with fewer than 20 employees are excluded, and there are additional hurdles in place for businesses with fewer than 50 employees.
And any business with a current enterprise agreement in place — that is, an existing pay deal negotiated between staff and their employer — is also excluded.
Business groups have firmly opposed the changes, citing two primary concerns.
They are worried about the possible cost to business of negotiating these deals, which they argue could be quite complex.
And they are concerned about the potential for businesses to be roped into deals against their wishes.
JobSeeker deal
This isn't actually a part of the deal, but it is a consequence of it.
Independent senator David Pocock was locked in lengthy negotiations with the government about passing the bill.
He successfully argued for a couple of tweaks to the laws, and for a separate annual review of the government's income-support payments.
It means that two weeks out from every budget, an independent panel of experts will publish a review of payments like Jobseeker, the aged pension and the disability support pension.
The government is not bound to accept the panel's advice, but Senator Pocock argues if they choose to ignore it, they will at least have to explain why.
So, when will I get a pay rise?
The government has been clear that it wants these laws to help push up wages within Australia.
Its primary argument is that for years, there simply have not been enough new pay deals struck between employers and unions — partly because of problems in Australia's IR laws.
It hopes this bill will do two things.
The first is fix some of those problems, particularly around what is known as the "better off overall test", which the Fair Work Commission uses to decide if a proposed pay deal is fair.
And the second is encourage more pay deals to be struck through the multi-employer-bargaining changes.
The suggestion is that many businesses will fast-track new enterprise agreements directly with their employees to avoid the possibility of being roped into a multi-employer deal.
So if the business you work in has been stuck on an expired enterprise agreement for years — which is the case for many Australian businesses — your employer might choose to start the process of changing that.
If that's the case, you might be in for a pay rise. But that process doesn't happen fast. Think months, if not years.
Pay secrecy
Not all parts of the legislation were as controversial as multi-employer bargaining though.
The new laws mean employees will no longer be forced to keep their pay a secret.
Some employers force people to sign "pay secrecy clauses", which is exactly what it sounds like and legally stops people talking to colleagues and comparing how much they're getting paid.
From now on employees can decide if they want to share that information or not.
Flexible working
Another key part of the changes is about securing people's right to flexible working arrangements — particularly carers and parents with school-aged kids.
While many businesses already work with employees, especially in the wake of COVID-19, to make sure their hours work for them and their personal life, the government's new laws are aimed at people whose employers may not be as receptive.
Under the new legislation, employers will be prevented from unreasonably refusing requests from staff who are trying to balance caring duties with their professional job.
The government's made it clear they want employers and employees to ideally work together to find a solution but if that doesn't happen, employees now have the right to involve the Fair Work Commission and go through formal arbitration.
Fixed-term contracts
Another area the government targeted in the changes was reducing the number of people that end up on fixed-term contracts.
Instead of people being put on rolling fixed-term contracts, such as for six months or a year, employers will now only be able to offer a maximum of two consecutive contracts or contracts that span two years — whichever of the two is shorter.
Labor hopes it'll mean more people are put on permanent contracts and given the job security that comes with it.
