That was a fun night last night! :) I always like a close campaign. The second election in three elections which looks likely to end in a hung Parliament. I think the major parties are going to have to accept this is the new normal and get on with it. Minority governments work well in many other countries; I don't see why we should be special.
I wanted to get on the record my predictions for the election results, which we won't know for at least a few days yet. I think neither party will get a majority but the Coalition will end up with their nose in front. Turnbull will cobble together an agreement (even though both sides swore they wouldn't!) with Katter and maybe Nick Xenophon or Cathy McGowan. He will still have a raucous circus in the Senate to deal with. The schizophrenia in his own party will deepen, likely ending up with him being pulled too many different ways and he will get overthrown (the fourth leader toppled by their own party since 2010--this really is a new national sport!). The alliance will break down and we'll go to an early election.
I am struck by the parallels from the 2010 election. A leader gets rolled in their first term, the new leader takes the party to an early election where they just limp over the line as a minority government. (I know there are important differences too.) That one ended in failure for both Labor and the Greens. (The Greens announcing an "alliance" with Labor was always bad politics and they should have known better.)
So where does this leave the gay marriage plebiscite? I'm afraid that will end up a political football (but it was always going to be anyway). The newly empowered loony right in Turnbull's own party may kill it, or he might use it as a wedge issue in the Senate if he is confident Labor and the Greens will block it. Either way, I do not see gay marriage becoming legal in this term of government. We can try again in a few years' time! :)