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Property developers, political parties to be fined for donations

By Staff Reporter
25 November 2009 | 1 minute read

Under new legislation introduced into state parliament today property developers may be hit with $11,000 fines if they donate to political parties.

Political parties may also be fined up to $22,000 under the new laws.

The Election Funding and Disclosures Amendment (Property Developers Prohibition) Bill 2009 is intended to amend the existing law to prohibit political donations by property developers.

The laws were foreshadowed by the announcement of NSW Premier Nathan Rees at a conference earlier this month.

“The Australian Labor Party (NSW Branch) will not accept another dollar from developers.” Mr Rees had said.

Mr Rees also said he wanted to lead the nation in introducing legislation to extend the ban on developer donations to all parties, not just in NSW.

“NSW supports the need for national reform but we are determined to lead the debate,” Mr Rees said.

Property developers, political parties to be fined for donations
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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