The Australian Electoral Commission's release of the 2024-25 political financial disclosure reports has revealed a staggering influx of undisclosed funding to major political parties, totalling more than $138 million in so-called 'dark money'. This record amount comes just months before new transparency rules are due to take effect, raising significant questions about political integrity and donor influence.
Unprecedented Levels of Undisclosed Funding
Analysis of the AEC data shows that five major parties – Labor, the Liberals, the Greens, the Nationals and One Nation – collectively received $138,321,731 from sources that remain unknown to the public. This represents a dramatic increase from the previous year, when $67.2 million of $156 million in receipts to Labor, the Coalition and Greens came from undeclared sources.
The current electoral system allows donations under $16,900 to remain confidential, creating what transparency advocates describe as a significant loophole for political influence. This disclosure threshold will be lowered to $5,000 from 1 July, with donations to be reported monthly rather than annually. The reforms also introduce a $50,000 cap on the amount a party can receive from a single source, replacing the current unlimited system.
Party-by-Party Breakdown of Dark Money
The Liberal Party received the largest amount of undisclosed funding, with $74.7 million of their $205 million total receipts coming from unknown sources. Labor, which attracted $162 million in donations, received $36.7 million from undeclared donors. The Nationals reported $14.3 million in total donations, with $4.5 million classified as dark money.
Perhaps most strikingly, One Nation had the highest percentage of funding from unknown sources, with $2.6 million of their $3.2 million total – approximately 79% – coming from undisclosed donors. The Greens received 55% of their $36 million in donations from unknown sources, amounting to $19.8 million.
Major Donors and Their Contributions
While much funding remains hidden, some significant donors were identified in the disclosures. Clive Palmer's company Mineralogy emerged as the largest single donor, contributing $53.1 million to Trumpet of Patriots and $302,901 to Palmer's United Australia party. Despite this massive expenditure, neither party secured any seats in the federal election.
Labor's declared donations included $3 million from the Mining and Energy Union, two separate $1 million contributions from Pratt Holdings, and $500,000 from Fox Group Holdings. The Liberal Party reported major donations of $900,000 from Oryxium Investments, and $500,000 each from Doordash Technologies, Fox Group, Meriton Property Services and Pratt Holdings.
The Greens declared $600,000 from the CEPU's Electrical Division and $500,000 from Duncan Turpie. One Nation's disclosures revealed significant funding from elected representatives, including $245,000 from leader Pauline Hanson, $60,000 from senator Malcolm Roberts, and $40,000 from Warwick Stacey.
Transparency Advocates Call for Stronger Reforms
Clancy Moore, chief executive of Transparency International Australia, expressed concern that the upcoming reforms don't go far enough to address systemic issues. "The new legislation doesn't go far enough to reduce the risk of big money corrupting the political system," Moore stated. "Sectors such as gambling, fossil fuels and aviation will still be able to exert significant sway."
Moore highlighted how the current system enables large donors to make multiple smaller donations to avoid disclosure requirements, even when their total contributions exceed individual caps. He called for more comprehensive reforms, including full disclosure of all 'cash-for-access' payments, reducing the donation disclosure threshold to $1,000, and establishing a corporate transparency register.
The Path Forward for Political Funding Transparency
As Australia approaches the May 2025 election, the debate around political donations intensifies. While the new rules represent progress toward greater transparency, experts argue that significant loopholes remain that could allow continued influence from undisclosed sources.
The substantial volume of dark money flowing into political coffers raises fundamental questions about democratic integrity and the potential for hidden interests to shape policy decisions. With public confidence in political institutions at stake, the coming months will test whether the new transparency measures can effectively address long-standing concerns about money in politics.
