Deputy Labor leader Tanya Plibersek says applying the 10 per cent GST to the 12 natural therapies such as herbalism and naturopathy would recoup the $30 million that would be lost.
"Because we are able to replace the money we believe we will be able to get the states and territories on board this time around," Ms Plibersek told the Nine Network on Sunday.
Foreign Minister Julie Bishop said the government already had the policy in place, but it was the states and territories - which must all agree to changes to the GST - that had stopped the change.
"The point is this: any change to the GST must be agreed by each state and territory government. And there is no agreement for the states and territories on this issue," she told Nine.
Australian women spend around $300 million on sanitary products each year with each item attracting the 10 per cent GST because they are not considered necessities, the opposition said in a statement on Sunday.
However, products such as incontinence pads, sunscreen, nicotine patches and even Viagra are exempt from the tax.
Opposition Leader Bill Shorten, is calling it a "tax on women".
"We'll do it if we get elected - but I hope Mr Turnbull will just adopt our solution in next week's budget," he said on social media.
