A Sky News exit poll released before voting was to end at 6:00 pm (0800 GMT) predicted that the Liberal/Nationals would gain a massive 25 seats to sweep 97 of the 150 seats in the lower House of Representatives.
The survey, carried out by Newspoll, forecast Labor would lose 21 to be left with just 51. The independents would have two seats.
On a two-party basis, the coalition would take 53 per cent of the vote to Labour's 47 per cent.
In the primary vote, which takes into account the minor parties and independents, the coalition had 42.5 per cent to Labor's 33.5 per cent, it showed.
The Greens Party would garner 11 per cent and the newly-established Palmer United Party, run by colourful billionaire Clive Palmer, five per cent, with "others" taking the rest.
A Newspoll published before voting started indicated Abbott was ahead 54 to 46 per cent on a two-party basis, the same as a Nielsen poll.
A relaxed Abbott spent today morning campaigning in Sydney while a subdued Rudd kept a lower profile in his home town of Brisbane, voting in the early afternoon.
