The incumbent Liberal-National Country Coalition led by Malcolm Fraser, in government since 1975, was elected to a second term over the opposition Labor Party led by Gough Whitlam. While the Coalition suffered a five-seat swing, it still had a substantial 48-seat majority in the House.
Malcolm Fraser's Liberal-National Country Coalition, which had governed since 1975, was re-elected against the Labor Party under Gough Whitlam. Although their party lost five seats, they retained an overwhelming 48-seat majority in Parliament.