It'll just mean every Australian will have to provide ID and lose the ability to remain anonymous online - no biggie!
I envision a state run identity provider which provides a limited number of non-resolvable identires to you. E.g. you log in with your personal identification card, then the website knows you as <some guid>. Your identity can only be resolved on court, e.g. if you commit online fraud.
Requiring everyone to give up their rights to online privacy is an incredibly drastic solution to this problem, and it's not clear that it would even work very well.
They have always been?