A Liberal Party room meeting is set to take place at midday today, with Prime Minister Malcolm Turnbull expected to resign if a leadership spill motion is carried.
Senior Government MPs Scott Morrison, Peter Dutton and Julie Bishop have all expressed their intentions to run for leadership in the event of a spill.
If the spill motion is passed, there will be a new Prime Minister by the end of today, and the current PM is also expected to resign, triggering a by-election in Wentworth.