Cormack Foundation

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Cormack Foundation Pty. Ltd. is an Australian investment company established to raise funds for the Liberal Party of Australia.[1][2] The company was set up in 1988 and used proceeds from the sale of former Melbourne radio station 3XY.[3]

Australian Electoral Commission records show that the Foundation is an "associated entity" of the Liberal Party. In 2014-2015, the Cormack Foundation received funds of over $12,800 (the disclosure threshold) from (among others) BHP Billiton, Rio Tinto, Telstra, each of the Big Four banks. In 2014-15, it had receipts of A$5,403,207, which were marked as "other receipts",[4] indicating that the receipts are not subject to the tax deductibility limits for political donations.

Since 2002-2003, the Cormack Foundation has been the largest single donor to the Liberal Party, donating A$1.8 million in 2002-03.[5] In 2013-2014, it donated $4.26 million.[6] The Foundation donated $4.46 million in 2014-15.[7]

The Foundation has distributed more than $25 million to the Liberal Party over 22 years to 2007-08 and also in 2008 had investments totaling $58 million spread across 16 blue-chip investments. In 2008 the directors were Charles Goode, Hugh Morgan and John Calvert-Jones.[8]

See also[edit]


External links[edit]