The incumbent Nationalist–Country coalition, led by Prime Minister Stanley Bruce won a record fifth consecutive election defeating the opposition Labor Party led by James Scullin.

Future Prime Ministers John Curtin and Ben Chifley both entered parliament at this election.

In September 1928, federal treasurer Earle Page introduced the National Insurance Bill 1928 into the House of Representatives, which provided for the establishment of a National Insurance scheme inclusive of "sickness, old age, disability and maternity benefits, mainly paid for by compulsory contributions by workers and employers, along with smaller payments to parents of children under 16 and to orphans".

[2] The bill failed to pass before the dissolution of the House, but the scheme was "strongly promoted" by the government during the election campaign.

[3] In the Division of Indi, the sitting candidate Robert Cook lost his seat after forgetting to file nomination papers, resulting in Labor candidate Paul Jones winning the seat unopposed.