Here are the latest updates:
● Malcolm Turnbull has won the ballot for leadership of the Liberal party with 54 votes to Tony Abbott's 44
● Mr Turnbull had resigned as Communications Minister
● Julie Bishop beats Kevin Andrews in deputy leader vote
● Party takes just 30 minutes to seal Mr Abbott's departure
● Aussies 'put out their onions' for widely derided leader
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Tony Abbott, has been ousted as Australia's Prime Minister by senior cabinet minister Malcolm Turnbull.
Mr Turnbull and Foreign Minister Julie Bishop had earlier visited Mr Abbott's office to request a ballot for leader of the Liberal Party.
Having resigned as Communications Minister, Mr Turnbull told a press conference in Canberra ahead of the vote: "A little while ago I met with the Prime Minister and advised him that I would be challenging him for the leadership of the Liberal Party, and I asked him to arrange or facilitate a meeting of the party room to enable a leadership ballot to be held.
“This is not a decision that anyone could take lightly.
"It is clear enough that the government is not successful in providing the economic leadership that we need."
In his speech, Mr Turnbull outlined how he would differ from Mr Abbott as prime minister, by providing stronger economic leadership and open and accountable government. He also said he would value input from all quarters and move the debate towards "advocacy, not slogans".
Mr Abbott had said: "Australia needs strong government and that means avoiding all costs Labor’s revolving-door prime ministership.
"You can trust me to deliver a stronger economy and a safer community.
"The prime ministership of this country is not a prize or a plaything to be demanded. It should be something which is earned by a vote of the Australian people."
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