AFP won't investigate Bishop

Federal police say they won't investigate Speaker Bronwyn Bishop's chartering of a helicopter for a Liberal fundraiser.

Labor has asked the Australian Federal Police to investigate whether Mrs Bishop made a false statement when she signed a Finance Department form stating the charter was claimed for "official business".

An AFP spokeswoman on Saturday said the matter will instead be investigated by the finance department.

The federal parliamentary Speaker is under fire for using a charter helicopter to take a 80-kilometre, $5,227.27 journey from Melbourne to Geelong last year.

In a statement released earlier this week, Ms Bishop said she did not believe she had done anything improper.

"Whilst my understanding is that this travel was conducted within the rules, to avoid any doubt, I will reimburse the full costs," the statement read.

It is believed she will also fork out an extra 25 percent as a penalty.

Ms Bishop had attended the Melbourne Cup the day before as a guest in the chairman's suite, which she declared on her pecuniary interest register.

On the same day as the races, according to Department of Finance figures, she took a commercial flight to Coolangatta before returning to Melbourne the next day, at a cost of $870.

She also claimed travel allowance of $435 for "official business" on the day she made the chopper flight.

Ms Bishop's entitlements also included $130,889 spent on overseas travel.

An $88,000 16-day trip to Italy, Belgium, Austria and Switzerland came as she unsuccessfully campaigned to win the presidency of the Inter-Parliamentary Union - an international organisation headquartered in Geneva.