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.