Scott Morrison has conceded and Anthony Albanese will be installed as our 31st Australian Prime Minister. Labor's Albanese has pledged to bring Australians together after defeating the nine-year-old Liberal-National coalition government.
In his speech, he said: "Together we begin the work of building a better future... for all Australians. I want Australia to continue to be a country that - no matter where you live, who you worship, who you love or what your last name is - places no restrictions on your journey in life."
So while Labor celebrates their victory, we thought it wise to unpack everything you need to know about the new government of Australia, their election promises, policy agendas and more.
Watch: Anthony Albanese on childcare. Post continues below.
With the cost-of-living rising, childcare remains a major issue affecting Aussie families right now.
Not only are parents reaching further into their pockets than ever before, but childcare costs are getting in the way of women's participation in the workforce. According to our Mamamia Votes Survey around 14 per cent of the over 5,000 people surveyed said childcare was one of the main issues affecting their decision at the polls.
What Labor has promised is further addressing how to get more women in the workforce.
Speaking to ABC's 7.30 report, Anthony Albanese said Labor's childcare policy - which will see a $5.4 billion investment in making childcare cheaper - will help grow the economy and boost women's participation in the workforce.
"If you remove the distortion which is there that stops women working a fourth or a fifth day, what you'll get is a growth in workforce participation. You'll also get a growth in productivity and a growth in the economy as a direct result of that, which is why businesses are crying out for this area of reform," Albanese said.