I'm an American and I live and work in Sydney. I came in on the 457 subclass visa. Not sure if you're familiar with it. It's pretty much the same as the H1B (No E-3 equivalent in the other direction unfortunately). The employer has to prove the job can't be filled by a domestic worker. This particular visa program is also rife with abuse by employers looking to keep costs down [1]. A typical H1B visa holder in the USA would have their health insurance paid for by their employer. 457 visa holders are usually required to purchase their own since everyone else is covered under the national health care system. H1B visa holder's children in the USA can attend public schools for free. 457 visa holders in Australia have to pay public school tuition (~$5k/year/child) in Australia on top of paying normal federal and state taxes. Personally, I'm very satisfied with my situation but this isn't the case with all 457 visa holders.
Much like the US, Australia is a nation of immigrants. Most people I've met here are 2nd generation (i.e. their parents immigrated). Yet, there is a surprising amount of opposition to immigration[2].
[1]http://www.smh.com.au/nsw/employers-avoid-fines-despite-visa...
[2]http://www.smh.com.au/national/allout-assault-over-issue-of-...