Party donors detailed
New AEC data exposes the intricacies of political funding in Australia.
While the ALP holds power, the LNP is fundraising furiously, amassing $125 million compared to Labor's total of $84 million for the 2022-23 financial year.
Political donations are seen as a means to gain access and potentially sway public decisions.
With Australia’s political parties collectively raising $259 million, and 81 per cent of donations going to major parties, it can be inferred that donors are getting value for that money.
Anthony Pratt, a paper and packaging magnate, emerging as the single largest donor to the Labor Party, contributing $1 million. This continues Pratt's tradition of substantial donations, which exceed $11 million over the past decade.
The biggest contribution to the Coalition's funding pool was $3.46 million from the Cormack Foundation.
Minor parties and external political action groups have also received significant sums. The largest came from Clive Palmer's Mineralogy making a $7 million donation to the United Australia Party.
There is a growing influence from “dark money”, or funds of unknown origin, which now constitute a quarter of all major party funding.
The fact that only 6 per cent of political parties' total income comes from declared donations could be a sign of a significant gap in the current disclosure laws.
The federal threshold for disclosure is currently set at $15,200.
Advocates for reform have proposed lowering the disclosure threshold, introducing real-time reporting, and capping election spending.
More analysis is accessible here.