Organisation : Australian Electoral Commission
Facility : Election Funding
Country : Australia
Details : http://aec.gov.au/Parties_and_Representatives/public_funding/index.htm
AEC Election Funding
A candidate or Senate group is eligible for election funding if they obtain at least 4% of the formal first preference vote in the division or the state or territory they contested.
The amount to be paid is calculated by multiplying the number of votes obtained by the current election funding rate. This rate is indexed every six months to increases in the Consumer Price Index.
Amount Paid :
The amount of election funding payable is calculated by multiplying the number of first preference votes received by the rate of payment applicable at the time. The rate is indexed every six months in line with increases in the Consumer Price Index
Payment of Election Funding
Election funding is paid automatically as soon as possible after the 20th day following polling day. Any balance of entitlement will be paid following the conclusion of the count of votes.
Qualifying for Election Funding
Division 3 of Part XX of the Act deals with election funding. To be entitled to election funding a candidate must receive a least 4% of the formal first preference votes in an election in which the candidate stands. For a Senate group, the group as a whole must receive at least 4% of the formal first preference votes in the Senate election in that state or territory.
Amount of Election Funding
Sections 294(1) and (2) of the Act specify the amount payable for each first preference vote given for a candidate in a House of Representatives or for a candidate or group in a Senate election respectively.
Further, section 321 provides for these amounts to be indexed each six months in accordance with increases in the All Groups Consumer Price Index.
To determine the election funding entitlement that a candidate or Senate group will be paid, the number of formal first preference votes is multiplied by the indexed election funding rate applicable at the time of the election.
Direct Deposit into Party Bank Account
Section 299A(2) provides that a bank account nominated by a party for the purpose of payment of election funding entitlements must satisfy the following conditions
** the account must be maintained by the party
** the account must be with a bank or other authorised deposit-taking institution, a full list of which is available at apra.gov.au/ADI/ADIList.cfm
** the account must be kept in Australia
The account name must consist of, or include:
I. if the account is maintained by a registered political party—the name of the party as it appears in the Register of Political Parties; or
II. if the account is held by a State branch of a political party, and the branch is not a registered political party—the name of the State branch.
The AEC may require evidence that the nominated account meets the above mentioned conditions, for example an original account statement.
Where an account is not nominated, payment is made by cheque made out to the registered political party or State branch of the political party, and posted to the relevant party agent.
Section 299A(4) of the Act allows the AEC to approve special abbreviations of registered political parties’ names to be used for the purpose of clearly identifying the payee on cheques issued.