Tony Abbott has failed to declare a set of high-tech cycling gears worth about $3000 given to him by the Japanese Prime Minister.
When in Japan last month, Mr Abbott - a well-known cycling fanatic - was given Shimano Dura-Ace electric gears by Prime Minister Shinzo Abe.
The gears are used by the world's elite road racers, including Tour de France winner Cadel Evans.
Under parliamentary rules, MPs must declare within 28 days all gifts from "official sources" valued at more than $750. Should they keep the gift, they must pay the difference.
MPs can be found guilty of "serious contempt" of Parliament should they knowingly fail to declare gifts as required.
When _The West Australian _ asked about the lack of a declaration for the gears, a spokeswoman for Mr Abbott confirmed he had decided to keep the gifts and would pay the difference.
She said he would update his register of interests today to make clear he had accepted the gift.