The ABC has a good write up of it on their blog site
They point out that despite the laws, common sense should always prevail - just because a car has the right of way, does not mean he should drive into that pedestrian walking in front of him, and pedestrians should do everything in their power not to be an obstruction to traffic.
In regards to right of way:
In general, drivers are required by law to give way to pedestrians in
the following situations:
· At pedestrian crossings and in shared zones.
· When the driver is entering or leaving the road. For example:
when driving into or out of your driveway at home you must give way to
pedestrians on the footpath.
· When the driver is turning left or right at an intersection
the driver must give way to any pedestrian at or near the intersection
who is crossing the road the driver is entering. This provision does
not appear to apply to roundabouts, perversely.
· When the driver is doing a U-turn.
· When turning left in a slip lane the driver must give way to
any pedestrian on the slip lane.