Roger Harrison, WIA Director and VK2ZRH has written an article clarifying what types of transmitting equipment a radio amateur may legally possess.  Please read the full article here on the WIA website, but here is a concise summary of some key points:

• an amateur transmitter, while required to meet certain technical standards in the LCD, does not have to comply with an Australian Standard, or be ‘type approved’;
• an amateur (other than a Foundation licensee) may build a transmitter; 
• an amateur (other than a Foundation licensee) may modify a transmitter built for other services, so that it can work on an amateur band or bands; and
• all amateur licensees must operate any transmitter in accordance with the LCD, or any other condition printed on the licence issued to them.

Therefore, no matter what amateur licence (Foundation, Standard or Advanced) you hold, you may possess any piece of equipment manufactured specifically for the global amateur market, provided that you operate it in accordance with the type of licence you hold, even if the item of equipment is capable of operating in certain spectrum segments that are not available to amateurs in Australia.

Prohibited Equipment 
Should equipment manufactured for the amateur market be modified to operate outside amateur spectrum, it cannot lawfully be operated on the Citizens Band, Maritime Band, Land Mobile or other bands, as equipment used by these services is required to comply with specific Australian equipment standards.