and another thing....
Taxpayer subsidizing part of every $1500.00 donation.

C’mon Norm, a bit of jiggery pokery with statistics here.
What you are effectively saying is the following situation where two individuals each deal with $1500.00 of their before tax income.

If a rich man should otherwise spend $795 on food, lodgings, entertainment whatever, then for the privilege of such self indulgence he must, by current law, also fork out another $705 to the tax man. Similarly if a poor man should otherwise spend $1,245 on food, entertainment whatever, then for the same privilege he must fork out another $255 to the tax man.

However, now if at the last minute they change their minds, even after posting in their tax, and decide to donate to a registered tax-free political party, then the tax payer will subsidise them $705 and $255 respectively, which they will then add to their original amounts. So Flintheart Glomgold pays less than two thirds of what Peter Pauper pays.
Of course the question has to be asked: Why are you talking about “taxpayer funded” subsidies? Isn’t it their own money they are getting back? When you look at it they each actually pay $1500.00, not $795 and $1245.

The fact of the matter is, Norm, that every time Flinty earns $1500, he is only allowed to keep $795 compared to Peter being able to keep $1245. The one time he gets a break and is allowed to spend the full amount of his labour on a disinterested cause (exercising only the same right as Peter) you scream blue murder as though some outrageous corruption of a principle is being perpetrated.

Maybe we are heading for "the best democracy money can buy" scenario.
Closing the electoral rolls early and not allowing people in prison to vote has no place in a democracy.

Maybe we should aim for a system that would only allow people on the electoral rolls to donate, to only donate to their electoral candidate, and to cap the amount of the donation at a level that most voters can afford ($10).

Obtaining votes under false pretences should attract the same sort of penalty as obtaining money under false pretences.