Prime Minister Malcolm Turnbull has confirmed he donated nearly $2 million to the Liberal Party for the 2016 election campaign.

Key points: Malcolm Turnbull has admitted donating $1.75 million to Liberal Party for 2016 election campaign

Malcolm Turnbull has admitted donating $1.75 million to Liberal Party for 2016 election campaign Says donation was in this financial year, so not included in publicly released records

Says donation was in this financial year, so not included in publicly released records Opposition said he had to "buy his way out of trouble" in campaign

Mr Turnbull has come under pressure to confirm how much money he put towards last year's federal election campaign.

There was no evidence of his donation in Australian Electoral Commission records released on Wednesday, but those records only covered the past financial year.

Mr Turnbull has told ABC's 7.30 he and his wife Lucy gave $1.75 million.

"I've always been prepared to put my money where my mouth is. Now, here's the difference: I put my money into ensuring that we didn't have a Labor government.

"I put my money into the Liberal Party's campaign."

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Mr Turnbull said the amount was not included in Wednesday's donation records because it was given this financial year.

When challenged on why he had not released the details of his donations earlier, Mr Turnbull said: "I think Australians are more interested in what I am doing with their money than what I am doing with my own."

He said he and his wife Lucy had always been generous because they had done well in life and "believe it is part of our duty to give back".

"And Bill Shorten wants to go after me all the time and he says I'm Mr Harbourside Mansion," Mr Turnbull said.

Opposition Leader Bill Shorten had criticised Mr Turnbull after he declined to name the amount he had donated during his speech to the National Press Club on Wednesday.

Labor MP and Opposition spokesman for finance Jim Chalmers said it was "no wonder Malcolm Turnbull was so desperate to keep his secret — he basically bought himself an election".

"I think the Australian people will be shocked by this admission — it stinks. Malcolm Turnbull had to buy his way out of trouble in the dying days of his disastrous election campaign," he said.