The Health Workers Union masked losses of almost half a million dollars by counting a L’Oreal pandemic giveaway to hospital workers as revenue in its accounts.

The Victorian No 1 branch of the Health Services Union, which has faced past scrutiny over its solvency, valued 40,000 L’Oreal care packages it received in 2020 as a $1.9 million “donation” in its latest financial report despite no money changing hands.