Before the last election it seemed likely that a Baillieu government would repeal parts of the Charter of Human Rights and Responsibilities Act 2006, if not scrap it entirely. Recent media coverage suggests neither of those is going to happen.
The reform the government wants to talk about is a requirement that proposed amendments to bills, as well as proposed bills themselves, have Statements of Compatibility. Small beer, when compared with other options that were on the table. The removal of the jurisdiction of the courts to interpret and apply the Charter in their judgments seems to have fallen out of fashion.
The SARC Final Report can be found here.
The Government's response (released last Thursday) is here.
Edit: If you feel strongly that the Charter should be preserved, modified or repealed then please leave a comment explaining why. Several readers already have.