Why are people--and Labor politicians in particular--so obsessed with republicanism? The advantages of constitutional monarchy are well known (and dealt with in previous threads); the Monarchy of Australia is legally distinct from Great Britain's, despite its sharing the same Queen; and Australia is clearly an independent country.
I would much rather live in Australia, New Zealand, Britain or Canada--all constitutional monarchies--than France (into its fifth republic) or the US (with a divisive head of state and a rigid separation of powers).