Seems to be the exact same deal as last year, not too bad compared to the current slim pickings: https://www.anz.com.au/personal/credit-cards/rewards/black/
150k points can apparently be redeemed for $650 in gift cards, $600 statement credit, or 75K VFF / 50K Asia Miles / 50K KRIS Miles.
With $150 cash back, the annual fee works out $225. So $425 profit if redeeming for gift cards.
$15,000 minimum credit limit / $65 annual fee for additional cardholders.
Edit 4/5: Now 180k points bonus instead of 150k.
I signed up for this back in November. I met the spending criteria in December. I received points, 150 credit and cancelled my card. When I cancelled I asked if I can get annual fee back. The CR did some internal chat for approval and they said I am eligible for 375 annual fee back. I was surprised since…I also got $150 credit. Overall, I was happy about it.