Under the legislation, which passed the Senate after a straight 28 hours of parliamentary debate, voters will number 1 to 6 above the line in order of their preferences, rather than placing a “1” above the line on Senate ballot papers or numbering every box.
The reforms mean minor parties will not be able to harvest preferences in order to secure seats.
CME chief executive Reg Howard-Smith congratulated Prime Minister Malcolm Turnbulll in leading the historic reforms.
“Rather than being a house of review as it was originally intended, the Senate has often been used to obstruct legislation by individuals and parties with no clear mandate,” Mr Howard-Smith said.
“As a result of these reforms, the next Australian Parliament will not be captive to minor parties."
