The Liberal National Party is trailing Clive Palmer in the seat of Fairfax by just 500 votes.
The mining billionaire led the LNP's Ted O'Brien by more than 700 votes on a two-candidate-preferred basis yesterday afternoon, but that lead has been whittled down further.
There's still more than 7,000 votes to be tallied including absentee, pre-poll and postal ballots.
Counting is expected to resume on Monday.
Even more postal votes are expected to keep trickling in and those received by the Friday deadline will count towards the total.
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Fairfax is in Queensland's Sunshine Coast and has been held by the Liberal Party's Alex Somlyay since 1990.
Mr Somlyay retired at the election.
