All votes have not yet been counted after Saturday’s election, but Labor already has a sufficient lead to become the largest party.
For its own majority, it is required that a party gets at least 76 seats in the House of Representatives, and according to the country’s electoral authority AEC Labor has received 75 when six chairs are left to distribute.
The center-right coalition, which has led the country for the past nine years, has so far won 58 seats.
Albanese begins his time as Prime Minister by going to Japan for a meeting with the leaders of “Quad”, a partnership between Australia, Japan, India and the United States.