The Australian Electoral Commission (AEC) is expecting a result in the Victorian seat of as early as this afternoon.
Phil Diak from the Australian Electoral Commission says Independent Cathy McGowan leads the Coalition's Sophie Mirabella by 405 votes in Indi.
"We're counting several hundred votes this morning," he said.
"(We're) just waiting for final postals Friday. But we should have a clear result there this afternoon, we hope.
"(But) on current trends, Cathy McGowan has a good lead. So it's about the trend staying the same with the remaining votes."
It is one of two Victorian seats where the result is yet to be finalised.
In , Labor's Rob Mitchell leads by just 192 votes over Liberal candidate Donna Petrovich.
There will be a recount if the difference is fewer than 100 votes.
It is the third time in four elections that the count in McEwen has gone down to the wire.
In the Queensland seat of , Clive Palmer of the Palmer United Party has a 362 vote lead.