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You are not meant to register a .com.au domain unless you have a business name or a product that reflects the domain name. If you feel this person does not, you can lodge a complaint with http://www.auda.org.au/policies/audrp/ . I have not had to do this in the past so I am not sure what the process or turn around time is.
As was mentioned earlier it is easier to start with a name and domain that has not been squatted on.