Aussie PM has a bible, the opposition leader too (4)
I believe the answer is:
arvo
'aussie pm' is the definition.
(Australian term for the afternoon - PM on a clock)
'a bible the opposition leader too' is the wordplay.
'bible' becomes 'rv' (Revised Version, revision of King James Bible).
'leader' indicates taking the first letters.
'too' is a charade indicator (letters next to each other).
The initial letter of 'opposition' is 'o'.
'a'+'rv'+'o'='ARVO'
'has' is the link.
(Other definitions for arvo that I've seen before include "PM in Canberra" , "afternoon in Sydney" , "Aussie PM" , "Australian PM" , "PM (Aus.); --- Part, composer" .)