Australian Prime Minister Kevin Rudd has conceded defeat in the general election, as Tony Abbott's Liberal-National coalition swept to power.
With almost two-thirds of the votes counted, the opposition coalition has secured a parliamentary majority.
Labor leader Mr Rudd said he had phoned Mr Abbott and wished him well.
The campaign has been dramatic, with Kevin Rudd ousting Julia Gillard as prime minister and Labor leader weeks from the polls.
The economy, asylum and the carbon tax have been key election issues.
Mr Rudd called the election after defeating Julia Gillard in a leadership challenge in June, amid dismal polling figures that showed Labor on course for a wipe-out.
Under Mr Rudd, Labor initially saw its figures improve significantly. But Mr Abbott, who enjoyed the strident support of Rupert Murdoch's newspapers, then broadened the gap again.
"I gave it my all but it was not enough for us to win," Mr Rudd said. But he was pleased that Labor was preserved as a "viable fighting force for the future".