Anthony Albanese has been sworn in as the 31st prime minister of Australia alongside several new senior ministers as Labor officially takes government.
Labor Senator Penny Wong was sworn in as foreign minister, Richard Marles as deputy prime minister, Jim Chalmers as treasurer, and Katy Gallagher as finance minister.
They will divide the ministerial portfolios between them before the incoming Labor government's full ministry is sworn in later this month.
Albanese and Wong are then set to travel to a meeting of the Quad security organisation on Tuesday, where they will meet with US President Joe Biden, India Prime Minister Narendra Modi, and Japan Prime Minister Fumio Kishida, in Tokyo.
"The (Quad security) meetings that we will have, not just with the United States, but importantly with our hosts in Japan and India are going to be very important, in a good way, to send a message to the world that there's a new government in Australia and it's a government that represents a change, in terms of the way that we deal with the world on issues like climate change but also a continuity in the way that we have respect for democracy and the way that we value our friendships and long time alliances," Albanese said in his first press conference as prime minister before the flight.
The timing of the meeting is behind the rapid swearing-in, which will constitute one of the swiftest changes of government in Australia's history.
Albanese also outlined his policy priorities, including a national reconstruction fund, climate action, full implementation of the respect at work report recommendations, affordable child care, aged care, and strengthening Medicare.
"I look forward to leading a government that makes Australians proud, a government that doesn't seek to divide, that doesn't seek to have wedges but seeks to bring people together for our common interest and our common purpose," he said.
"I think that is one of the messages that came through on Saturday, people have conflict fatigue."
In that vein, he signalled that he was ready to work with crossbenchers - but that he anticipated leading a majority government.
"I am hopeful that we will receive a majority of members of the House of Representatives," Albanese said.
"At this stage that looks most likely, but counting continues, but my expectation is that we have a majority in the Labor Caucus."
He said he had spoken with at least five independents who told him "that they would not support any no confidence motions against the Government and that they would also secure supply."
US President Joe Biden has congratulated Mr Albanese on his win and expressed his appreciation for the Australian government's decision to attend the meeting so soon after the election.
Liberal and Labor HQs tell two different stories
Albanese said he and Biden had shared a "fruitful and positive conversation".
The Quad leaders will discuss how to counter China's influence in the region.
Meanwhile, the reeling Liberal party will attempt to reset for its time in opposition, with Peter Dutton in the hot seat to be elected party leader.
However, the other presumed leader-in-waiting, outgoing Treasurer Josh Frydenberg, has not yet conceded defeat in the Melbourne seat of Kooyong.
Frydenberg appears set to lose the seat to Independent Dr Monique Ryan, and he admitted it would be "difficult" to claim victory from this position.
However, he has said it was "mathematically possible" he could still win the contest, and both candidates are waiting for the postal vote count to finish.
About 12 per cent of the overall votes - 16,000 postal ballots - are yet to be counted in the seat.