Clive Palmer's company, Mineralogy, was the single biggest political donor last financial year, pouring $116 million into the Queensland businessman's United Australia Party (UAP).
The record spend for the company was revealed in the Australian Electoral Commission's annual dump of political donations data, which takes in the 2022 federal election.
That election delivered just one seat for the UAP — a senator from Victoria.
Labor declared just over $124 million in donations and "other payments', with Anthony Pratt's company Pratt Holdings revealed as the ALP's single biggest donor, contributing $1.75 million towards the party's election campaign.
That was followed closely by the CFMEU and ETU which each tipped $1 million into Labor Party coffers.
Mr Pratt, Australia's billionaire cardboard king, spent nearly $4 million ahead of the 2022 election, making him one of the nation's biggest political donors, contributing $1.35 million to the Liberal Party and $250,000 to the Nationals.
The Liberals' fundraising vehicle, the Cormack Foundation, donated $3 million to the party, which declared more than $105.6 million in donations last financial year.
Other notable donors include Sydney restaurateur Justin Hemmes, who tipped $300,000 into the Liberal's unsuccessful re-election campaign.
The Greens received more than $22 million, with investor Duncan Turpie revealed as the party's single biggest donor, contributing $334,000 last financial year.
Climate 200, which helped bankroll several "teal" independents, chipped $856,382 into David Pocock's successful ACT senate campaign, which declared a total of $1.7 million in donations.
Senator Pocock used the release of today's AEC data to again call for electoral donation reform to limit the influence of cashed-up entities on political parties.
"Donations are necessary to run a campaign but I put guidelines in place for my campaign donations and who I would accept donations from," he said in a statement.
"Today we see that the major parties once again accepted hundreds of thousands of dollars worth of donations from fossil fuel companies, developers, banks, alcohol and gambling companies and their representatives — people with clear vested interests in key national policy debates."
Analysis by Market Forces — which aims to expose companies' links with fossil fuels — found oil and gas companies donated "a whopping" $2 million to the major political parties last financial year.
This money, according to research coordinator Axel Dalman was "clearly aimed at sweetening deals to expand coal, oil and gas production".
Centre for Public Integrity has also reviewed the data and found total campaign spending for the 2022 federal election topped $439.4 million, with Mineralogy, Climate 200 and Pratt Holdings rounding out the top 3 donors.
"Ten individuals have given 77 per cent of the donations to parties and individuals," centre director and retired judge Anthony Whealy KC said.
"Given the reliance that the major parties have on these top donors, there is a real risk that they receive special access and yield undue influence on our decision makers."
Political parties and associated entities are required by law to publicly declare any donations over $14,500, and by law they must disclose these donations annually and within 15 weeks of an election.
Parliament's Joint Standing Committee on Electoral Matters is considering a raft of changes to these rules, including forcing parties to declare any donations over $1,000, disclosing donations in real time and putting caps on the amount of money parties can spend.
While Mr Palmer's spending will likely fuel the push for spending caps, the proposal has previously been criticised by the Liberal Party and Climate 200 convener Simon Holmes a Court, who has warned it could keep out newcomers.
