A law banning political parties from receiving $1000 or more from foreign donors will take effect on January 1.
The law also prohibits foreign governments and state-owned enterprises from making gifts worth $100 or more to political parties and campaigners if the gift is being used for electoral purposes.
Other third party political actors will also be prohibited from using donations worth $13,800 or more from foreign sources to fund electoral expenditure.
Some changes from the FAD Reform Act have already come into effect in December, including the creation of a transparency register which has been touted as a "one-stop-shop" for publicly available information on political parties and their associates.
The law has been described as the "most significant change to funding and disclosure legislation in some time" by the Australian Electoral Commission.
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