MALCOLM Turnbull is refusing to discuss claims he donated $1 million to the Coalition's election campaign because the Liberal Party coffers purportedly run dry.

Both Fairfax Media and News Ltd reported this morning that Liberal insiders said donations fizzled out after Mr Turnbull - who is believed to be worth about $200 million  - rolled Tony Abbott in the September leadership battle.

"Donations to the Liberal Party are disclosed in accordance with the requirements of the Electoral Act," a spokesman for the PM told the Sydney Morning Herald a short time ago.

Finance Minister Mathias Cormann said he was in the dark about the rumored donation.

"I'm not aware whether the report is accurate but there is a process of disclosure enshrined in legislation and that process applies to everyone," he said.

All parties have to reveal the names of donors who contribute more than $13,000 to them but the 2016 election campaign backers' names will not be made public until February. - ARM NEWSDESK


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