Election count edges closer to completion

The Australian Electoral Commission has formally declared the winners in just over 80 per cent of seats following the federal election.

The Australian Electoral Commission has declared the results in 80 percent of the lower house seats. (AAP)

Australia is edging closer to having a new parliament with the winners in a further clutch of seats being declared.

The Australian Electoral Commission has formally declared the results in 124 out of 151 seats so far, with another five added to the count on Tuesday.

Seven more seats are due to be declared on Wednesday: Brisbane, Dawson, Ryan, Herbert, Hinkler and Flynn (Qld) and Canberra (ACT).

The AEC cannot officially declare a result until it is mathematically impossible for the margin to be overtaken.

Prime Minister Scott Morrison is set to govern with 77 seats to Labor's 68, with six MPs on the crossbench - one Green, one Centre Alliance, Bob Katter and three independents.

So far, only the Northern Territory's two Senate seats have been formally declared.

The 76-seat upper house to start on July 1 is likely to comprise 35 coalition members, 26 Labor, nine Greens, two One Nation, two Centre Alliance, one Australian Conservatives and Jacqui Lambie from Tasmania.