You can buy bitcoin on various websites like coinmama, coinbase, blockchain.info etc . I personally bought a few from localbitcoin and coinmama. On local bitcoin you can buy it in cash too, but you have to do your research before you meet that person and buy your coins. Secondly, once you buy your bitcoin you can transfer it on bittrex and start trading. Thirdly, If you trade for example NEO/ETH. You buy 1 NEO for 7$ worth ETH and sell it for 11$ you just made 11$ worth ETH on your trade. Hope this helped.
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You can create an account with coinjar.com.au trading platform and use BPAY or POLi to deposit money from your Australian bank account into your coinjar account.
If using BPay it can take up to 48 hours for funds to appear in your coinjar account. Once your money is in coinjar, you can buy bitcoin. Move your bitcoins from your coinjar wallet to your bittrex bitcoin wallet and trade.
www.btcmarkets.net is another trading platform popular with Australians.