Inman Grant, who once worked for Twitter, gave the company 28 days to show it was serious about tackling the problem or face fines of 700,000 Australian dollars ($476,000) for every day it missed the deadline.
https://www.aljazeera.com/economy/2023/6/22/australia-gives-twitter-28-days-to-sort-out-toxicity-and-hate
They won’t. Australia might impose a fine but twitter won’t pay. Australia will not ban the app so really nothing will happen.