By the time the final votes were counted on Sunday, the Australian Electoral Commission (AEC) was predicting that Labor would win with a majority of about 695 seats, while the Liberal Party would win about 4.6 million votes.
The election was originally set to be held on May 23 but has now been delayed due to a coronavirus scare.
But if the outcome of the election is not different, Labor could be poised to win an outright majority of Parliament and be sworn in as prime minister.
In an election year, the AEC forecasts that the Coalition will get 6.5 million votes, and the Greens 4.3 million votes each.
The results are expected to be released at 8.30am on Sunday.
The result is a massive disappointment for the Liberal-National Coalition, which had campaigned on a platform of tackling corruption and improving Australia’s public finances.
Former prime minister Julia Gillard was elected as leader in 2010 and led the Coalition to a majority government in the Lower House for the first time in its history.
She also set up the first federal government-funded childcare scheme, which has seen over 2 million Australians gain access to a full day of primary and secondary school education.
Gillard also promised to improve the Australian Taxation Office, the country’s biggest tax office, and increase the Australian Human Rights Commission’s budget by up to $250 million over three years.
The AEC has already predicted that the outcome could cost the Coalition about $4.5 billion, and there are some fears that it could result in Labor losing a seat in Parliament, with its majority reduced.
The Federal Government has already put forward a range of changes to the election process, including scrapping the preferential voting system, a system that allows a party to win a majority by picking up votes from the Greens and other minor parties.
But a poll published on Monday morning showed that about a third of the electorate still favoured a postal survey, and that Labor was on course to win the majority of seats.
The latest Newspoll, conducted by YouGov for ABC News, also showed Labor on course for a majority in the Senate, while Coalition leader Bill Shorten was on track for a comfortable win in the seats of Griffith and St Kilda.
What we know so far about the Australian capital:What we do know about the final count: The final results are being closely watched across the country.
Polling places have already been moved to a new polling site in Adelaide, and more polling stations are expected in Queensland, New South Wales and Western Australia.
There will be a lot of excitement on Sunday as the final tally is released, and many people will be hoping for a more accurate result.