From the AES study is this interesting graph as covered in an earlier article. Bryan Palmer has been looking at external effects to determine election outcomes. It may be that the internal effects are rate determining; of which policy is one.

By this graph most voters consider policy when casting votes. The parties and leaders come low in comparison in voting considerations. It may be as simple as bad policy losing elections. This could also explain why the Liberal Party is having problems of late, their policy has been haphazard, poorly thought out, electorally cynical and often arbitrary. Coupled with a politically engaged population bad policy may be the reason why a government will not get re-elected.

This suggests Australians are very sophisticated in their understanding and following of politics. I am more likely to be sympathetic to this symmetry of intrinsic effects than recessions or other politically external effects. (reply)
Practicality has an interesting comment:

We are one of the few societies that made it through the 20th century as a free country choosing it's governments by popular democratic means. The list is indeed short. Not many more than Australia, Canada, NZ, the USA, Switzerland. Britain doesn't even make that list because elections were suspended for 'the duration' of WW2.

I did not know that about Britain. The morality of democracy is very strong in Australia and it is good we can lay claim to a contiguous voting record. (reply)

The Parliamentary Library has released a research brief on compulsory voting. Australia has been using compulsory voting since 1924, when it was introduced as a private members bill after some parliamentarians were shocked at the lack of turnout to an election. Compulsory voting is a bit of a misnomer though, it is more accurately compulsory attendance at an electoral booth on election day. Due to the amazing Australian innovation of the secret ballot, informal votes are impossible to punish. Informal voting tends to make up about five percent of the voting population. Despite there being Compulsory Voting, turnout is never one hundred percent anyway, the Northern Territory just gets over the ninety percent hump. (more)
Cam Riley: South Sea Republic. Freedom, liberty, equity and an Australian Republic.