After returning from Brisbane, Mr Rudd called in to meet the Governor General at around 3pm on Sunday afternoon.
'The time has come for the Australian people to decide on our nation's future. This election will be about who the Australian people trust', Mr Rudd said to reporters shortly afterwards.
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Mr Rudd attacked the Coalition's 'three word slogans' but said his government was not without fault: 'the key is to learn from experience', he said.
He said the Australian economy was in fine condition but said manufacturing must be invigorated, while the National Broadband was also an important development.
He said Labor would also 'responsibly' return the country's budget to surplus.
He also called on those who want to keep Tony Abbott and the Coalition from office to send the ALP 'ten bucks' to help with its campaign.
Mr Rudd said the Australian people knew him 'warts and all' and he would be 'deeply honoured' to lead after the election.
Watch: Voters know me warts and all, says Rudd
Meanwhile, Opposition Leader Tony Abbott said at last Australians are going to get a real choice about who they want to lead the nation.
The federal election will be a choice between the coalition's positive plans for the future and more of the same under Labor, he said.
"At last the choice is yours, it's not the choice of the caucus, it's not the choice of the faceless men, it's your choice," Mr Abbott told reporters in Canberra on Sunday.
"And the choice couldn't be clearer."
Mr Abbott said he and his coalition team were determined to build a "better Australia".
"We will build a stronger economy, so that everyone can get ahead," he said.
ONLINE BOOST
Mr Rudd's office sent an email to supporters confirming the date shortly afterwards.
'I have a positive vision about the country we can be. In this election I'll be talking with Australians across the county about better schools for our kids, investing so we can create good jobs, and about how the NBN can help keep our economy strong.'
Mr Rudd also took to social media, posting this image to Instagram of him preparing his speech.
'Just left Government House. It's time for Australians to decide. A positive plan for Australia's future or old negative politics. KRud', Mr Rudd tweeted.
