Donations and other payments to political parties fell by nearly half in the last financial year leaving each of the parties with substantial debts as they prepare for the upcoming campaign.

All political parties received a total of $125,035,599 in 2011/12 – down from $228,428,888 in 2010/11.

The Liberal Party banked the most money from political donations and other payments in 2011-12.

The last federal election was held in 2010 and donations and other payments typically drop off immediately after an election has been held.