Electoral Act 2002 (VIC) amendments require both donors and recipients must disclose political donations worth $1,000 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 $1,000 or more.
Once the $1,000 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 $1,000.
Below is an example:
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 $4,000 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.
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.
This is a donation to the National Party of Australia.
The Commonwealth Electoral Act 1918 (Cth) prohibits the provision and knowing receipt of donations from foreign donors. A foreign donor is defined as:
(a) A body politic of a foreign country;
(b) A body politic of a part of a foreign country;
(c) A part of a body politic mentioned in paragraph (a) or (b);
(d) A foreign public enterprise;
(e) An entity (whether or not incorporated) that does not meet any of the following conditions: (i) the entity is incorporated in Australia; (ii) the entity’s head office is in Australia; (iii) the entity’s principal place of activity is, or is in, Australia;
(f) An individual who is none of the following: (i) an elector; (ii) an Australian citizen; (iii) an Australian resident; (iv) a New Zealand citizen who holds a Subclass 444 (Special Category) visa.
Disclosure: Under the provisions of the Commonwealth Electoral Act 1918, disclosure of the details of gifts and donations to the Federal Nationals is subject to a minimum threshold below which disclosure is not required. The current disclosure threshold amount from 1 July 2018 to 30 June 2019 is more than $13,800 (and $13,500 in 2017-18) Please note: donations are not refundable.