Australians will go to the polls on 18 May after Prime Minister Scott Morrison ended weeks of speculation and fired the starter's gun on the official election campaign.
Mr Morrison announced the date after visiting the Governor-General Peter Cosgrove early on Thursday morning, asking him to dissolve the 45th Parliament and issue the writs for an election.
Mr Morrison said there was "so much at stake" at the election.
"At this election there is a clear choice. It is a choice that will determine the economy that Australians live in, not just for the next three years but for the next decade," Mr Morrison told reporters.
Opinion polls have narrowed since the budget was handed down last week delivering tax cuts to most workers, but Labor remains ahead.
The government currently holds 74 seats in the lower house and Labor has 69, but a redrawing of the electoral boundaries means the Coalition starts with a notional 73 seats and Labor 72.
That means both major parties need to gain seats to win a majority in the 150-seat House of Representatives and form government.
Labor and the Coalition have already agreed to a campaign advertising truce over the Easter long weekend and Anzac Day.
Official campaign starts
Mr Morrison and Opposition Leader Bill Shorten have been traversing the country over the past week, pitching their economic plans a week after the budget was delivered.
Mr Morrison last night made a direct pitch to families, small business operators and seniors when he released a video featuring his family and asking voters to think long-term.
While Mr Morrison wants to focus on the economy, he faces an uphill battle to convince voters that he can lead a stable government.
He told reporters on Thursday morning that the party rules have been changed to limit leadership challenges.
"It is crystal clear, at this election, it is a choice between me as prime minister and Bill Shorten as prime minister. You vote for me, you'll get me. You vote for Bill Shorten and you'll get Bill Shorten."
Labor Leader Bill Shorten is expected make his first public appearance during the official campaign in Melbourne Thursday morning.
The Opposition Leader campaigned on the NSW north coast on Wednesday, and said voters were ready to dump the government after six years in office.
"The Australian people actually want to make a choice: six years of instability, three prime ministers, 13 energy policies, enough is enough, times up, let's have an election," he said.
Apart from the perennial issues of health and education, key election topics are expected to be wages, climate policy, income tax cuts and national security.
