The newly re-elected Morrison government will seek parliament's support for income tax cuts before the end of the financial year.
Having miraculously seen off a challenge by Bill Shorten's Labor team on Saturday, Prime Minister Scott Morrison went to church on Sunday before his beloved Cronulla Sharks played in the NRL.
"Thanks again to all Australians all across the country," Mr Morrison said.
Treasurer Josh Frydenberg, who fulfilled a promise to shout local voters a beer at a bowling club in his Melbourne electorate of Kooyong, said the government would quickly turn its attention to delivering tax cuts of up to $1080 into the pockets of Australians earning up to $126,000.
"We want to bring parliament together. The Labor party have already said they will support that legislation, so it will have bipartisan support, so let's get this legislation passed so that the Australian people get their tax cuts," he said.
As counting continued on Sunday, the coalition appeared to be on 73 seats - three seats short of a majority in the lower house - with Labor on 65 seats and six crossbenchers.
Of seven in-doubt seats, the Liberals were ahead in Bass, Boothby and Wentworth while Labor was ahead in Chisholm, Cowan, Lilley and Macquarie.
While the seat count continues and the government gets back to business, Labor is set for a month of introspection with a leadership ballot.
Frontbencher and former leadership challenger Anthony Albanese on Sunday became the first to formally announce a tilt at the top job, following what he described as a "devastating result".
"I particularly want to say my heart goes out to all those many tens of thousands of true believers who campaigned strongly over many months," Mr Albanese said.
"I am sorry that we collectively did not get the job done."
Deputy leader Tanya Plibersek will on Monday announce she will run for the leadership and shadow treasurer Chris Bowen is also expected to do so.
Mr Shorten will be interim leader while a postal ballot process is conducted.
"I will start the ball rolling (on Monday) so that in a matter of weeks the members of the party and parliamentary party can pick a new leader to take this into the next exciting time in the parliament ahead," Mr Shorten said in Melbourne.
Australian Associated Press