The BBC's Jon Donnison: "If the polls are to be believed, then this is Tony Abbott's race to lose"
Exit polls in Australia
suggest Tony Abbott's Liberal-National coalition is on course for a
decisive election win, as voting ended in the eastern states.
The campaign has been dramatic, with Kevin Rudd replacing Julia Gillard as prime minister and Labor party leader just weeks from the polls.
The economy, asylum and the carbon tax have been key election issues.
Mr Rudd called the election after ousting 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.
The Newspoll exit poll, released just over an hour before polling closed in the east of the country, gave the coalition 53% to Labor's 47% on a two-party basis (votes for the two main parties after both primary votes and preferences are distributed).
Another poll put the two-party figure at 52%-48% in the coalition's favour.
More than 14 million people were expected to vote in Saturday's election. Polling has now closed in Queensland, New South Wales, Victoria, Tasmania and the Australian Capital Territory.
Polls close later in Western Australia because of the time zone difference.
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