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The best value Ebook reader at present for Aussies is the International Kindle + Amazon store at around AU$300 inc airmail.
The other option if you want epub capability and be able to purchase from ebook stores around the world is the Iriver Story now being sold by Harvey Norman stores for AU$399.
Have a look at the ebooks for offer at the Oz ebookstore readwithoutpaper.com where all the ebooks are available to Aussies. Also Whsmith ebook store in the UK has most ebooks available to Aussies(some are UK only).
If they sell what you like you may consider the Iriver Story. If you are happy with the Kindle store offerings you might consider the Kindle instead.
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