I am an Australian software developer. There is no way I am putting any backdoor into any software I write and I am willing to go to jail if needed. If all us Aussie developers tell the government to go jump this stupid law will fail.
The punishment for non-compliance is civil fines, not gaol time. However I believe it's technically possible for them to push you into bankruptcy by making many requests and revoking them after you refuse them (fining for each copy of the request they resend to you).
Well then bankruptcy it will have to be if it comes to this. A mass outbreak of civil disobedience is the only way to fight this.
Yep. This is what I'm leaning towards as well. They can't lock us all up!!