Australia to hold federal elections on May 21: Scott Morrison

Morrison's ruling coalition currently has 76 seats in the House of Representatives - the minimum needed to retain power.

However, opinion polls suggest that there will likely be a change of government, with the opposition Labor party leader Anthony Albanese, expected to take office.

Still, experts have warned against counting Scott Morrison out as in the last election he defied predictions by retaining his position as prime minister.

Morrison announced the election date after holding talks with the Governor-General in the capital, Canberra.

Morrison is the first Australian prime minister to serve a full term in office since fellow Liberal John Howard, who won four elections before losing to Labor's Kevin Rudd in 2007.

Ever since then there has been a prevalence of what observers call the coup culture of Australian politics which has led to a series of short-lived premierships.

According to political analysts, Morrison's Liberal-led coalition is defending its one-seat majority, even though it has won seven of the past nine federal elections. But this time around it may be hard-pressed to do so again.