You are using an older browser version. Please use a supported version for the best MSN experience.

Senator writes off $1.4 million party loan

AAP logoAAP 21/10/2016 Paul Osborne, AAP Senior Political Writer

Retiring Family First senator Bob Day has forgiven a loan to his party, as he deals with the fallout from the collapse of his housing group.

The Australian Electoral Commission on Friday published an update to Family First's political funding disclosure.

The update notes that Senator Day's $1.471 million loan to the party has been "forgiven".

The Greens raised concerns earlier this week about discrepancies in Family First's disclosures.

The AEC confirmed at a Senate hearing it was following up the issue with the party.

Senator Day on Monday announced he was resigning from the upper house to deal with the fallout from his Home Australia group of companies going into liquidation.

Senator Day apologised for the pain, stress and suffering caused to the group's clients and workers by the collapse.

Greens senator Lee Rhiannon said 2013/14, the period in which the loan was made, was the same year Senator Day's Home Australia group made a loss of $3 million.

"Forgiving this loan effectively turns it into a $1.4 million political donation," she told AAP.

"Coming the same year as Home Australia ran up a $3 million loss, it is especially galling for customers who rightly feel they've been ripped off."

She said it showed the need for stricter caps on donations to restore confidence in the system.

Supporters of Senator Day have set up a Go Fund Me web page, which to date has raised almost $29,000 in donations.

The funds are to go to subcontractors owed money by the collapse of Home Australia.

Meanwhile, liquidators McGrathNicol told AAP on Friday they had received approaches from "many parties" interested in the Home Australia assets for sale.

Meetings for creditors - who are owed at least $12.5 million - are planned for SA, WA, NSW, Queensland and Victoria for November 3 and 4.

image beaconimage beaconimage beacon