Anthony Albanese secured a landslide re-election in May 2025, expanding Labor's House majority to 94 seats and becoming the first Labor leader since Bob Hawke to win consecutive terms. As of September 2026, he remains firmly in office with the next federal election not due until 2028, though recent polls show Labor's primary vote falling to 27 percent amid cost-of-living pressures, changes to negative gearing and capital gains tax rules, and fallout from the global fuel crisis tied to the Iran conflict. The opposition, now led by Angus Taylor, holds far fewer seats and has not mounted a credible challenge. Traders assessing removal timelines focus on whether mid-term polling weakness, internal party pressures, or external shocks could accelerate a leadership transition before the next ballot.