The byelection for the regional New South Wales seat of Farrer, vacated by former opposition leader Sussan Ley, will be held on May 9.

the date was announced by the Speaker of the House of Representatives on Thursday.

The main contenders for the seat with be the Liberal Party, the Nationals, One Nation and at least one high-profile independent, Michelle Milthorpe. The Labor party is not running.

The byelection, just days before the May 12 budget, is being regarded as a major test for new opposition leader Angus Taylor.

Importantly, it will also indicate whether the surge for One Nation in the opinion polls translates to votes. One Nation will select it’s candidate this weekend, from a shortlist of three.

The Liberal and National parties are yet to select candidates but Milthorpe who polled 20% at the last election, is already campaigning.

The Liberals will hold a rank-and-file pre-selection in about a week. The Nationals’ candidate will be chosen on Sunday.

The key dates are:

• Issue of writ Wednesday April 1
• close of rolls Wednesday April 8
• close of nominations Monday April 13
• declaration of nominations Tuesday April 14
• date of polling Saturday May 9
• return of writ on or before Friday July 10