I'm not a console person, so don't know much about this membership.
Looks like a decent price in comparison to previous deals.
From the website:
With Xbox Live Gold, you get the most advanced multiplayer, free games, exclusive member discounts up to 50-75% on games in the Xbox Store, and more.*
*IMPORTANT! Xbox Live Gold no longer required for some apps and features, including Netflix, Twitch, ESPN, Skype, and YouTube. Some apps require app provider-specific subscriptions and/or other requirements. See xbox.com/livefaq. Home Gold: Limited to 1 Xbox One in home; restrictions apply. Smart Match matchmaking and Cloud Hosted Multiplayer available in supported games. Media content and games, including Titanfall and Halo sold separately. Halo Spartan Assault available now on Xbox 360 and Xbox One. Halo 5: Guardians coming 2015. Multiplayer between Xbox One and Xbox 360 not supported.
~ $51 after you convert USD to AUD.