Buildev consultant Ann Wills has admitted she acted as the go-between for the development firm's funding of an anti-Labor campaign in Newcastle at the last election.

Ms Wills, who has also been referred to as "Joe Tripodi's eyes and ears in Newcastle", has been giving evidence before the Independent Commission Against Corruption, which is ostensibly examining alleged illegal political campaign donations in the Hunter.

Mr Tripodi, a Labor Party powerbroker and former NSW minister, was last week named at ICAC as having been involved in efforts to unseat former Newcastle MP Jodi McKay.

As part of the inquiry, ICAC has been examining the funding of a third party campaign, FedUp!, which targeted Labor in the lead-up to the 2011 state election.

Ms Wills was confronted with a string of incriminating emails that purported to show her liaising with the business lobby group, Newcastle Alliance, and Buildev executives about promised payments from the Nathan Tinkler owned company for the FedUp! campaign.

"You knew at all times that Buildev was funding an anti-Labor campaign in the seat of Newcastle, didn't you," counsel assisting the inquiry Geoffrey Watson SC asserted.

"Yes I did," Ms Wills replied.

"It's better to get it off your chest, Ms Wills," Mr Watson said.

Ms Wills said she knew that as a developer, Buildev was banned from making political donations.

But she said it did not cross her mind that it was illegal for Buildev to bankroll the campaign, because the money was being paid to the Newcastle Alliance.

"You knew that Buildev was up to its neck in an illicit program of funding, didn't you?" Mr Watson said.

"No, I can't agree with that," Ms Wills replied.

ICAC has also heard evidence about the extent Buildev went to to hide its involvement in an anonymous leaflet campaign, smearing Ms McKay.

A campaign entitled the Stop Jodi's Trucks Campaign badly damaged Ms McKay's attempt to hold on to the seat in the election.

Ms Wills has conceded that she organised for the leaflets to be printed by Mr Tripodi's Wetherill Park-based printer, Vincenzo Fedele from Mesh Media.

She eventually agreed that the printer was chosen to hide Buildev's involvement in the pamphlet campaign.

"There is no other reason, is there?" Mr Watson asked, continuing: "It's because they were ashamed of what they were doing."

"Correct," Ms Wills replied.

ICAC has heard that Buildev wanted to undermine Ms McKay because she supported a proposal to build a container terminal in Mayfield which would have threatened their own plans to build a coal loader at the site.