Assistant Treasurer Arthur Sinodinos, who stepped aside from his role in March 2014, has officially quit the front bench.
Mr Sinodinos made the announcement in a statement on his personal website.
"I will be resigning as assistant treasurer with effect from close of business today, 19 December 2014," he said.
"I can confirm that I have been confidentially discussing my ministerial future with the prime minister and Brian Loughnane, the party director, in recent weeks," the statement said.
Mr Sinodino temporarily stood down as assistant treasurer to appear before Independent Commission Against Corruption hearings.
His decision to resign today opens the door for current acting Assistant Treasurer and Minister for Finance Matthias Cormann to step into the role.
The move also sets the scene for Prime Minister Tony Abbott to reshuffle the front bench.
"I very much look forward to returning to the ministry in the not too distant future and in the meantime being a strong advocate for the Abbott government and the people of New South Wales," Mr Sinodinos said.
Mr Sinodinos spoke to ifa in February 2014 about his vision for the financial services industry.
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