Disclosure Warning
Electoral Act 2002 (VIC) amendments require both donors and recipients must disclose political donations worth $1,170 or more via the Victorian Electoral Commission (VEC) website within 21 days of giving or receiving that donation.
Donors must also disclose multiple donations given in the same financial year to a single recipient, which, when combined, add up to $1,170 or more.
Once the $1,170 donation disclosure limit has been reached, any additional donations given in the same financial year to that recipient must also be disclosed. This includes donations that are less than $1,170 .
Below is an example:
Prohibited Donors
As of 1 August 2018 political donations are banned from foreign donors. (i.e. any donor that is not an Australian citizen or resident, or a business with a relevant Australian Business Number)
Limits on donations
From 25 November 2018, there is a cap of $4,670 from any one donor to any one recipient within an election period. Donors also cannot donate to more than six third party campaigners during the election period.
Registered political parties, its endorsed candidates, groups and elected members and its nominated entity are all considered as one recipient for the purpose of the cap.
Further Information
The above is a summary only. For the complete requirements refer to the Electoral Act 2002 (VIC) VEC Website: www.vec.vic.gov.au
Tax Deductibility: Donations by individuals to registered political parties of between $2 and $1,500 in a financial year are tax deductible.
