AEC pays out $58m in electoral funding

The Liberal Party is the top earner in AEC electoral funding figures released on Wednesday, which also show Clive Palmer received $2.3 million.

Federal MP Clive Palmer insists his party spent far less than the Liberals in the last campaign. (AAP)

Billionaire Clive Palmer will walk away with more than $2.3 million in payments from the Australian Electoral Commission (AEC) after his party's federal election success.

After valuing each first preference vote at 248.800 cents, the AEC paid out a total of $58.1 million in electoral funding to 12 political parties and nine independents.

The Liberal party earned the most with $23.8 million, according to a final AEC payment figures statement released on Wednesday.

Labor received $20.7 million, the Australian Greens $5.5 million and the Nationals $3.1 million.

Political newcomer the Palmer United Party, led by Mr Palmer, earned more than $2.31 million.

To obtain election funding, candidates or parties must attract more than four per cent of the primary vote.

Cathy McGowan was the independent who attracted the highest payment from the AEC, receiving just over $69,000 after unseating Victorian Liberal Sophie Mirabella in Indi.