The electoral fate of Liberal frontbencher Sophie Mirabella is likely to be known on Wednesday.
At Tuesday's close of counting in the Victorian seat of Indi, independent challenger Cathy McGowan led the incumbent Ms Mirabella by 387 votes.
There are 500 declaration votes to be counted on Wednesday and they are trending in Ms McGowan's favour.
While there are a small number of postal votes to be counted on Friday, they are unlikely to change the result.
A spokesman for Ms Mirabella told AAP on Tuesday she had yet to make a statement conceding the seat.
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The former shadow minister was left out of prime minister-elect Tony Abbott's frontbench after she asked not to be included.
In the Queensland seat of Fairfax where counting continued on Tuesday afternoon, billionaire Clive Palmer was only 64 votes ahead of the Liberal National Party's Ted O'Brien.
Mr Palmer said on Twitter he would ask for a recount because of "evidence of tampering of the ballots and discrepancies with the count".
The Australian Electoral Commission said it had confidence in the integrity of its processes.
