Attorney-General George Brandis has signalled the government could move to introduce laws forcing internet and phone companies to keep customers records for up to two years.

But the so-called data retention laws will not be part of legislation the government is planning to introduce on Wednesday that will grant new surveillance powers to Australia's spy agencies.

Internet and phone companies would be required to store data for up to two years under mooted laws. Credit:Reuters/Pawel Kopczynski

Under those changes, ASIO and other intelligence agencies would be able to hack into a third party's computer to access a target computer and infiltrate entire computer networks on a single warrant.

The government is planning further security reforms later this year that will, in part, seek to address concerns about the threat posed by up to 150 Australians who are currently involved with extremist groups in Iraq and Syria.