Lib figure 'belled cat' on donors: Labor

Labor is calling for more transparency over political donations after a Liberal Party figure revealed banned donors were slipping through the system.

Labor wants more transparency in political donations after reports banned donors are still active. (AAP)

Labor claims a senior Liberal Party figure has "belled the cat" by confirming he knew banned political donations to its NSW branch were being funnelled through a federal foundation.

Michael Yabsley, a former federal treasurer of the party, told ABC's Four Corners program banned property developers donated to the NSW Liberals through the Free Enterprise Foundation in 2010.

Shadow Treasurer Chris Bowen told ABC radio on Tuesday Labor had long pushed for transparency in political donations and supports a $1000 threshold for disclosure.