[1][2] In 1859, the colony of Queensland was separated from New South Wales and Macalister was elected to the first parliament as member for his old district and was made chairman of committees.

Macalister's ministry only lasted until 20 July 1866, when he resigned owing to the Governor, Sir George Bowen, refusing to sanction a proposed issue of "inconvertible government notes".

Bowen called on Herbert to form a new ministry which immediately carried an act authorizing the issue of exchequer bills.

This carried the colony through a financial crisis caused by the failure of the Agra and Masterman's Bank, which had arranged a loan for railway extensions.

When Charles Lilley became Premier in November 1868, Macalister took office as Secretary for Public Lands and Works, and for the goldfields.

A number of street names in the Brisbane suburb of Carina Heights are identical to the surnames of former Members of the Queensland Legislative Assembly.