This is Oswald, a Guru here at Shopify!
Great question and hopefully some other Australian sellers can give you some guidance on this.
I would recommend checking to see if there are any local business agencies that can give you some information on this or even refer you to someone who is qualified to give such legal advice with running a business within Australia. Sometimes Government websites have some great resources also worth taking a look at.
Good luck with the new adventure! :)
Oswald | Shopify Guru1
I also am after an answer to this question. I am about to open my store and i am in Australia but mainly using other countries to supply product to drop ship. I am wondering if because my store is dropshipping, that insurance is even required.
Have you had any luck? Would really appreciate your feedback.
Beautiful Stranger 2020