Malcolm Turnbull's $1.75M donation criticised, Labor argues he 'got out his wallet' to win election

Prime Minister Malcolm Turnbull’s donation of $1.75 million to the Liberal Party has been met with stark criticism. The figure was disclosed by the prime minister on Wednesday night.

Foreign Minister Julie Bishop has backed Turnbull over his donation. Turnbull said he revealed his donation 12 months before he was legally obliged to do so. His contribution had not been listed in the Australian Electoral Commission political funding disclosures for 2015-16 as they were made in the current financial year.

Speaking with ABC's 7.30, Turnbull said he and his wife Lucy “have always been generous” because they have done well in life and they believe it is part of their duty to give back.

He added, “I contributed $1.75 million, that was the contribution I made. It has been talked about and speculated about but there it is. That's a substantial contribution, I can assure you we make big contributions to many important enterprises and causes. I've always been prepared to put my money where my mouth is.”

Turnbull was backed by Bishop, who said the prime minister was “forthright” and “upfront” about his donation. “I’d welcome the fact our prime minister is prepared to invest his money in causes he believes in,” she said.

Meanwhile, she took aim at Opposition Leader Bill Shorten. She said Shorten should be the one answering questions about the millions that unions have funnelled into the Labor Party. “This is the same Mr Shorten who forgot a donation to him of $40,000,” she said.

The prime minister also saw support from Environment and Energy Minister Josh Frydenberg. “There is no inference of influence when a person makes a donation to their own campaign,” Frydenberg said.

However, Shadow Finance Minister Jim Chalmers said, with his donation, Turnbull had “bought himself an election.” “He couldn't win an election on his merits so he got out his wallet. Well no wonder Malcolm Turnbull was so desperate to keep this a secret. He’s basically bought himself an election,” Chalmers said.

Meanwhile, Greens electoral spokeswoman Lee Rhiannon described the laws concerning donations as “utterly inadequate.” “It seems Prime Minister Turnbull has used a loophole in the donations laws to avoid scrutiny for another 12 months,” she told AAP (via Sky News).

According to the most recent statistics gathered from AEC, the Liberals received $80.2 million over the year. On the other hand, the Labor Party received $61 million.