Australian voters wanted change and ditched the Australian Labor Party. The Coalition got 87 seats, Labor 54, Greens 1 and Others 2. Since the 150-seat Parliament needs 76 seats for a majority, the Coalition becomes the administration and Tony Abbott gets to fulfill his ambition to be Australia's next prime minister.

Source: Adffarmonline.com

To celebrate the party's victory, Mr Abbott went in an early Sunday morning bike ride in Sydney. The early morning ride indicates the fresh start for Australia under a new leadership as Labor suffered its worst finish in more than a century.

With Prime Minister Kevin Rudd conceding on Saturday night when results showed the trend was irreversible in favour of the Coalition, Mr Abbott declared that "Australia is under new management and that Australia is once more open for business."

"I look forward to forming a government that is competent, that is trustworthy, and which purposefully and steadfastly and methodically sets about delivering on our commitment to you, the Australian people," The Sydney Morning Herald quoted the incoming PM.

Source: Liberal Party

Governor-General Quentin Bryce is expected to swear in the new government within a week or so.

Despite the resounding defeat of Labor, Mr Rudd and all his cabinet members were elected as MPs and retained their seat in Parliament.

Green MP Adam Bandt retained his seat of Melbourne, Independents Andrew Wilkie kept his Tasmanian seat and Bob Katter his Queensland seat.

In spite of Mr Rudd's reelection, former Defence Minister Stephen Smith challenged him to resign from Parliament for the good of the ALP.

"The smart thing for the party and the smart thing for Kevin, in my view, is not just to walk away from the leadership but to walk away from the Parliament ... Do what Julia has done and remove for all time the remnants of those political and leadership disputes and difficulties we had from the moment effectively of the 1996 defeat," ABC quoted Mr Smith.

Besides conceding defeat to the Coalition, Mr Rudd told supporters he will not recontest the leadership of the Labor Party.

With the clear Coalition win, the carbon tax is expected to be repealed and asylum boats are expected to be stopped from entering the shores of Australia.

Source: Liberal Party

The key Liberal officials such as Julie Bishop, Joe Hockey and Warren Tuss are expected to take key cabinet post. With Ms Bishop being the deputy leader, that makes her deputy prime minister, the second woman to take the post after Julia Gillard.

Will she do a Gillard and also attempt a party coup against Mr Abbott and become Australia's second female prime minister?