BREAKING: Scott Morrison MP has beaten Peter Dutton MP 45-40 in a Leadership Spill to become the 30th Prime Minister of Australia.

Early on, the Leadership Spill motion was carried 45-40 before a second vote to determine the new leader began.

This process saw Julie Bishop drop out of the race, leaving just Mr Dutton and Mr Morrison.

It is alleged former Prime Minister Malcolm Turnbull will resign from parliament forcing a by-election in the electorate Wentworth, New South Wales.

More to come.