The Australian Electoral Commission has released figures showing the election funding of parties and candidates in the 1996 Federal Election.

Election funding and financial disclosure was first introduced for the 1984 elections. The scheme has two main parts:

• public funding of election campaigns
• disclosure of certain financial details by candidates, registered political parties and other persons and groups. Disclosure is by way of returns which must be submitted to the Australian Electoral Commission and which then become public documents

To be eligible for election funding a candidate or Senate group must win at least 4% of the formal first preference votes in the division contested (House of Representatives) or the State (Senate). The amount to be paid is calculated by multiplying the number of votes won by the current election funding rate. The rates are indexed every six months to increases in the Consumer Price Index. The funding rate for the 1996 federal election was 157.594 cents per House of Representatives and Senate vote.

Payment procedures:

• for candidates and Senate groups endorsed by registered political parties are made directly to their parties after the election
• for independent candidates and Senate groups payments are made directly to their agent
• payment is made by cheque in the fourth week after polling day
• the AEC must pay at least 95% of funding entitlements based on the votes counted at the twentieth day after polling. Any balance (if full amount was not paid in 20 days) is paid as soon as the full entitlement is known.

 
Source: Australian Electoral Commission , Electoral Pocket Book 1996