Cormack Foundation Pty. Ltd. is an Australian investment company established to raise funds for the Liberal Party of Australia. The company was set up in 1988 and used proceeds from the sale of former Melbourne radio station 3XY.
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", 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. In 2013-2014, it donated $4.26 million. The Foundation donated $4.46 million in 2014-15.
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.
- "Transparency means more than disclosure". The Age. 2004-02-04. Retrieved 2007-09-24.
- "Mysteries remain in political donations". ABC. 2004-02-02. Retrieved 2007-09-05.
- "ALP donations up to $46m under Latham". The Sydney Morning Herald. 2005-02-01. Retrieved 2007-09-05.
- "Associated Entity Disclosure Return - FINANCIAL YEAR 2014-15", Peter Matthey, 14 October 2016.
- "Political donations revealed". The Age. 2004-02-03. Retrieved 2007-09-05.
- "Political donations: Mining hits back at Labor". The Sydney Morning Herald. 2015-05-06. Retrieved 2015-05-06.
- Name Listed on Other Returns - 2014-15, Cormack Foundation Pty Ltd
- Independent Australia, 3 February, 2016, Alan Austin: Political party donations - what we know and what we should know
- Crikey, 18 February 2010, Stephen Mayne: Revealed: The $58m share portfolio that can topple Brumby
|This article about an Australian corporation or company is a stub. You can help Wikipedia by expanding it.|