Two leadership spills were carried out by the Liberal Party in August 2018, with the second resulting in Treasurer Scott Morrison replacing Malcolm Turnbull as party leader and prime minister.
Julie Bishop did not seek re-election as deputy leader, and in the resulting ballot Frydenberg won a majority in the first round with 46 votes, while Trade Minister Steven Ciobo received 20 and Health Minister Greg Hunt received 16.
During Morrison's subsequent press conference, he announced that Frydenberg would replace him as Treasurer.

Frydenberg delivered his first federal budget in April 2019.
At the 2019 federal election, he retained his seat of Kooyong with a reduced majority, following a challenge from high-profile Greens candidate Julian Burnside.
Perceiving Burnside as a strong contender, the Liberal Party doubled its spending on the campaign in Kooyong, from $500,000 to $1 million.
Frydenberg received a primary swing of -8.2% against him, as well as the lowest Liberal vote in Kooyong in 97 years.

In July 2019 a Kooyong resident petitioned the High Court, as  Court of Disputed Returns, for a ruling that Frydenberg had been ineligible owing to foreign citizenship, being allegedly a citizen of Hungary.
On 23 November 2019 it was reported that Frydenberg had received confirmation from the Hungarian government that no record could be found of Hungarian citizenship of himself or his mother.
On 12 December 2019, since factual as well as legal questions remained unresolved, Justice Gordon of the High Court (who was critical of parties' delay) referred the case to the Federal Court.
On 17 March 2020, a Full Court of the Federal Court found on the basis of expert evidence that Frydenberg's maternal family had lost their Hungarian citizenship upon leaving Hungary, so that he was not and had never been a Hungarian citizen, and consequently he was not ineligible to be elected to the federal parliament.
Two leadership spills were carried out by the Liberal Party in August 2018, with the second resulting in Treasurer Scott Morrison replacing Malcolm Turnbull as party leader and prime minister. Julie Bishop did not seek re-election as deputy leader, and in the resulting ballot Frydenberg won a majority in the first round with 46 votes, while Trade Minister Steven Ciobo received 20 and Health Minister Greg Hunt received 16. During Morrison's subsequent press conference, he announced that Frydenberg would replace him as Treasurer.
Frydenberg delivered his first federal budget in April 2019. At the 2019 federal election, he retained his seat of Kooyong with a reduced majority, following a challenge from high-profile Greens candidate Julian Burnside. Perceiving Burnside as a strong contender, the Liberal Party doubled its spending on the campaign in Kooyong, from $500,000 to $1 million. Frydenberg received a primary swing of -8.2% against him, as well as the lowest Liberal vote in Kooyong in 97 years. 
In July 2019 a Kooyong resident petitioned the High Court, as  Court of Disputed Returns, for a ruling that Frydenberg had been ineligible owing to foreign citizenship, being allegedly a citizen of Hungary. On 23 November 2019 it was reported that Frydenberg had received confirmation from the Hungarian government that no record could be found of Hungarian citizenship of himself or his mother. On 12 December 2019, since factual as well as legal questions remained unresolved, Justice Gordon of the High Court (who was critical of parties' delay) referred the case to the Federal Court. On 17 March 2020, a Full Court of the Federal Court found on the basis of expert evidence that Frydenberg's maternal family had lost their Hungarian citizenship upon leaving Hungary, so that he was not and had never been a Hungarian citizen, and consequently he was not ineligible to be elected to the federal parliament.
Josh Frydenberg