I propose that
1) We replace the absentee monarch of Australia (who is also the Monarch of Great Britain) with an elected Australian monarchy.
2) The elected monarch exactly replaces the current monarch in the current constition.
3) The elected monarch has exactly the same powers, duties and responsibilities as those of the current absentee monarch. All the monarch’s functions are carried out by his/her personal representatives (as is currently the case): federally by the Governor General, and in the states by the State Governors.
4) The Governor General and the Governors continue to be selected and appointed as they currently are, that is, by the premier with the approval of the monarch.
5) The monarch is elected to sovereignty over Australia for life, but his/her sovereignty is strictly non-hereditary.
6) The elective body is the “college of electors” comprised of the state governors and federal governor general.
7) The election of the monarch must be a unanimous decision on the part of the college of electors.