Labor has backed an overhaul of the rules around political fundraising, including a limit on spending, a $1000 disclosure threshold and taxpayer funding linked to the size of parties.
The ALP national conference endorsed two motions on Friday seeking to limit the level of federal campaign spending to ensure Australia does not move down the American path of candidates raising and spending billions of dollars.
Transport Workers Union national secretary Tony Sheldon told the conference money was increasingly becoming the master and democracy the servant.
"Democracy has but one master - the people of Australia," he said.
"Democracy forced to serve money and greed is in fact no democracy at all."
Mr Sheldon initially intended to call for a national independent commission against corruption but his motion was dropped in favour of another endorsing a review of federal integrity bodies such as the Australian Crime Commission and auditor-general.
A Labor government will legislate for the disclosure of donations of more than $1000 and put in place a new scheme to regulate political financing.
Labor's electoral matters spokesman Gary Gray also won support for a motion seeking cross-party talks on real-time reporting of donations, harmonisation of state and federal disclosure laws and German-style public funding linked to party membership numbers.
Mr Gray said the system will still allow citizens, companies and others to donate to pet political causes.
"But at the same time (it) creates a stream of income from the Commonwealth to support the activities of our political parties so that our political parties are not beholden to vested interests," he said.
A new system might involve setting up a body separate from the Australian Electoral Commission to monitor donations and give out public funding.
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